Big jump in insurance for City of Elliot Lake

Elliot Lake’s Ad Hoc Budget Committee was a bit taken aback to find out the city’s insurance for the year in taking a hefty jump.

Following insurance claims for the Lester B. Pearson Civic Centre and others, and the effect of the pandemic, increases were expected, but city treasurer Amy Sonnenburg says the insurance carrier has quoted the city a substantial increase over the $784,000 it paid in 2020, an additional cost of nearly $275,000.

She says that it was difficult to find carriers for the city with the quote being achieved only by their carrier spreading out the costs of liability between several insurance companies.

Council was dismayed with the 43% increase and passed a motion to have the finance department come back in March with a report for a Request For Proposals to look at alternatives for 2022, adding it looks like they have no choice but to accept the hike in this year’s 2021 budget.

This entry was posted in Local, News. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *