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Wednesday, May 4, 2016

City gets insurance refund

Monday, February 20, 2006

The City of Storm Lake has received a refund of $13,414 on the city's property and liability coverage and worker's compensation insurance policies.

This refund is due in large part to the continued vigilance and care that employees in Storm Lake and other communities that partner in the group plan take in making sure that they are following safety guidelines and are following safe work practices, according to a city statement.

"This cost reduction payment is a direct result of employees being diligent and careful in their jobs. We are pleased with the overall care given by employees to use safe work practices in their job duties," said Patti Moore, city administrator.

The cost reduction payment has an additional direct benefit to the citizens of Storm Lake as well. Since the city is a taxing agency, the costs from premium payments are paid for with tax revenues. This cost reduction payment will go back into the insurance fund to cover a portion of the upcoming year's premium costs and lessen the burden on the taxpayers in the upcoming year.

In addition to the cost-reduction payments, cities involved in the joint program will receive training coupons that will allow city employees to attend further safety training programs.

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