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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 />2024 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 12.69% increase due to PTSD Emergency Personnel Claims in 2022 and a larger work comp claim. The 2022 <br />premium was $51,722 versus $33,922 in 2021. The 2024 budget is estimated based on the 2023 premium and <br />having a 10% increase from 2023 invoice under General Liability. <br /> <br />Insurance Budget Summary 2021 <br />Actual <br />2022 <br />Actual <br />2023 <br />Budget <br />2024 <br />Budget <br />General Liability $25,570 25,960 $25,790 29,811 <br />Worker’s Compensation 13,360 12,830 19,600 21,339 <br />Total $38,930 $38,790 $45,390 $51,149 <br />Percent Change 12.69% <br /> <br />45