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GJEM reviews Ridgefield Park coverage, board to add soccer and July 4 committee
Summary
GJEM representatives reviewed the village's insurance program, confirmed the $50,000 cyber deductible and recommended adding the Ridgefield Park Soccer Association and the Fourth of July Citizen Committee to quasi-entity coverage.
Ezio Altamura of GJEM presented the Village's insurance portfolio and coverage details to the Board of Commissioners, saying the firm has been Ridgefield Park's risk manager since the 1980s and that the Village "became a member of the South Bergen Municipal Joint Insurance Fund since 1993."
Altamura told commissioners the village currently covers the Ridgefield Park Youth Football Organization and Ridgefield Park Baseball Organization and that the Board would like to add the Ridgefield Park Soccer Association and the Fourth of July Citizen Committee to that list. He identified rising health benefit costs as driven by "NY/NJ hospital and doctor fees along with weight loss drugs."
On cyber insurance, Altamura noted the village must notify GJEM immediately in the event of a breach and said, "There is currently a $50,000.00 deductible on the cyber security policy." The presentation concluded and the GJEM representatives left the meeting.
