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Council reviews $218,317 WesBanco letter of credit for workers' compensation surety

Huntington City Council · March 9, 2026

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Summary

Director Montgomery told the council that Resolution 2026-R-17 would authorize a WesBanco letter of credit for $218,317 to meet the West Virginia insurance commissioner's surety requirement for the city's self-insured workers' compensation program; Montgomery said the fee will be 1.5% (about $3,275) and the bank-issued letter is renewed annually.

Director Montgomery, the city comptroller, briefed the council on Resolution 2026-R-17, explaining that the City of Huntington self-insures for workers' compensation and that the West Virginia Offices of the Insurance Commissioner annually calculates…

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