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Finance Committee backs three-year CIRMA insurance proposal with capped increases
Summary
The Finance Committee supported a proposed three-year insurance agreement with CIRMA that guarantees a 0% rate increase in year one and limits increases to a maximum 5% in years two and three, a move staff said would stabilize premiums for the district's budget.
Julia Cardillo, Chief Financial Officer for Regional School District No. 20, told the Finance Committee on May 4 that the district is considering a three-year agreement with CIRMA (Connecticut Interlocal Risk Management Agency) to cover liability, auto and property insurance. Cardillo said the agreement "guarantees a 0% increase in year one and a maximum 5% increase cap in years two and three," and described the proposal as a tool for budget stability and protection against premium fluctuations.
Committee members voiced support for the plan during the brief special meeting. The transcript records staff seeking committee feedback rather than recording a formal vote on the insurance agreement; the committee indicated consensus to move forward. No specific implementation timeline or final authorization step was recorded in the minutes provided.
