by Brent Hovey
Aurora -- For the third consecutive year, the city will save money on its comprehensive insurance program, officials said earlier this week.
A new plan was unveiled at the May 21 finance committee meeting, and members favored it unanimously and passed it on to City Council. The policy period begins June 1.
Ben Sutton Sr., executive vice president of the E.H. Sutton Insurance Agency, said the city should see a nearly 4 percent reduction in its annual premium. The previous year, officials noted the city saved 2.3 percent.
Sutton said over the last three years, the city has saved nearly 13.5 percent on its insurance program, which covers all city land, vehicles, jobs, equipment, parks and law enforcement.
According to Finance Director Bob Paul, the total cost of the city's premium would be $142,208 next year. He noted the 4 percent reduction would save the city $5,710 over this year's figure, and it has shaved $22,301 off the premium in the last three years.
"We handle insurance for a lot of public entities -- governments, colleges, universities -- and 13.5 [percent] is the top savings I've seen," Sutton told the committee. "I'm happy for you and happy you've found a good program."
Sutton explained there are two main reasons the city continues to save money.
He noted the new policy would be the third three-year installment with the Municipal Insurance Alliance's program (HCC Insurance Co.).
He added Sutton Insurance and HCC Insurance officials have been im-pressed with the quality of the city's administrators and department heads.
"This is a good program and Municipal Insurance is a good company that will work well with the city," Sutton said.
"Mr. Sutton has lived up to his reputation as an excellent provider to the city," said Council President-finance committee member James Fisher.
Phone: 330-688-0088 ext. 3115