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Committee waives uninsured-motorist and terrorism coverage; workers' comp renewal with LWCC projected to return dividends
Summary
The committee voted to waive uninsured-motorist and terrorism coverage to save money and heard a workers' compensation recommendation to return to LWCC with projected annual dividend checks rising from about $775,000 to roughly $2 million in later years.
At the Aug. 4 meeting, the finance committee approved a motion to waive uninsured-motorist and terrorism coverage as part of the insurance renewals. Mister Anthony made the motion and Miss Rose seconded; the motion passed with members recorded as voting "Yes."
Ryan Campbell discussed the workers' compensation program and recommended returning to LWCC. He provided projected dividend estimates: "we believe next year that our in around April, our dividend check from them is gonna be about $775,000," followed in the transcript by estimates of "about 1,200,000" the following year and larger amounts thereafter. Campbell said staff will continue efforts to reduce claims to lower premiums and improve dividend projections.
Mister Anthony initiated the separate motion on waivers, asking the committee to approve the administration's recommendation to decline the uninsured motorist and terrorism coverages to realize budget savings. Committee members subsequently voted in favor of the waiver motion.
