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INSURANCE <br /> <br />Overview <br />Insurance contains the property, liability, and worker’s compensation insurance premiums paid by the City of <br />Little Canada. Claims and losses are also paid from the insurance budget. <br /> <br />Service Areas <br />• General Liability • Worker’s Compensation <br /> <br />2023 Departmental Goals <br />• Continue to use the Internal Service Fund for Health Insurance, General Liability, and Worker’s <br />Compensation. <br />• Continue to analyze cost-saving measures for insurance <br /> <br />Budgetary Commentary <br />The 17.01% increase due to PTSD Police Claims in 2022 and larger work comp claims. The 2022 premium was <br />$51,722 in 2022 versus $33,922 in 2021. The 2023 budget is estimated based on 2022 premium. <br /> <br />Insurance Budget Summary 2020 <br />Actual <br />2021 <br />Actual <br />2022 <br />Budget <br />2023 <br />Budget <br />General Liability $24,640 25,570 $25,960 25,790 <br />Worker’s Compensation 9,740 13,360 12,830 19,600 <br />Total $34,380 $38,930 $38,790 $45,390 <br />Percent Change 17.01% <br /> <br /> <br />45