Eastchester board approves two-year workers’ comp renewal with Perma

The Eastchester Board of Fire Commissioners voted on June 13 to renew a two‑year workers’ compensation policy with incumbent carrier Perma for the period July 1, 2024, through June 30, 2026.

Treasurer Jamie Hedstrom told the board the Perma quote for year one is $230,800, which includes a 2% discount if paid in full before July 1 and an expected dividend. Hedstrom said a year‑two premium is estimated to range roughly between $219,500 and $239,000 depending on the department’s loss ratio, New York state assessment estimates, and other variables; the two‑year total was presented as roughly $450,000–$469,000.

At the meeting Hedstrom said the district also received a competing one‑year quote from Comp Alliance for $248,300 but recommended Perma’s two‑year option for budgeting stability. She warned the board that breaking a locked two‑year contract early would incur a penalty equal to about 10% of the remaining highest premium on the policy.

A motion to renew with Perma for the two‑year term was moved and approved by roll call. The board’s roll-call responses recorded the motion as carried; the payment due date for the year‑one premium was stated as July 1, 2024.

Why it matters: The two‑year structure reduces year‑to‑year premium uncertainty and eases budgeting by avoiding annual full renewals, though it exposes the district to a termination penalty if the board later chooses to change carriers.

The board also heard that the district’s broader budgeting process must account for pending pension liability numbers (arriving in the fall) and healthcare cost figures (arriving in December). The board did not vote on those items; they will inform next year’s budget process.

The board adjourned other business after the vote and scheduled its next regular meeting for July 11 at Town Hall.