News and Tribune

Clark County

December 20, 2012

Insurance plan approved for Jeffersonville

Increases to property cost were left off previous policies

JEFFERSONVILLE — An insurance renewal plan presented at a Board of Public Works meeting last week was brought back before the board Wednesday.

Public Works Coordinator Rick Lovan said he did not want to move forward with the vote last week because Mayor Mike Moore was not in attendance. The plan that was recommended by Jerry Rauck, agent of record with ISU Insurance and Investment Group, was through Travelers Insurance and totaled $1.14 million annually. The cost of the policy had increased from last year because Rauck said $42 million worth of additional property was added to the policy.

Moore explained the property was not new items purchased by the city, but items that had failed to be included on the insurance premium under the previous agent of record.

“Over the course of the last seven or eight months you all have discovered several entities, property ...   previously held by the city of Jeff, but were never insured by the city of Jeff?” Moore asked Rauck.

“That’s correct,” he said. “We added several locations, property at the locations that the city had previously that were not on the policy that we discovered through the process of meeting with department heads.”  

Rauck said at the beginning of 2012, the city insured $58 million in property and through upgrades and property additions, the total jumped to about $100 million.

“[The properties were] not purchased through this administration, they were just things that we had overlooked or needed to be upgraded,” Lovan interjected.

At last week’s board of public works meeting Rauck said the city added 34 vehicles that were not on the policy when it was renewed at the start of 2012 and throughout the year, Jeffersonville purchased 26 vehicles, increasing the net vehicles covered by 60.

“That’s what we had when we walked into this year with the city, we had vehicles that were driving around the city that have no insurance on them,” Moore said. “If I’m not mistaken, the street department building and the vehicle maintenance building, those buildings, we all knew they were there, but there was no insurance coverage on them, so therefore we weren’t paying a premium for it.

“It took a year-long audit to discover all of this stuff,” Moore said.

The Travelers insurance package included both property and workers compensation packages changed the city’s deductible on property from $5,000 to $10,000 and is set to go into effect Jan. 1.

The policy was unanimously approved.

Text Only | Photo Reprints

Easter 2014 photos

Click on any photo to purchase it.

Twitter Updates
Follow us on twitter
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
AP Video
US Airlines Cancel Israel Flights Obama Signs Workforce Training Law Crash Victims' Remains Reach Ukraine-held City Diplomatic Push Intensifies to End War in Gaza Obama Offers Condolences at Dutch Embassy Cat Fans Lap Up Feline Film Festival Raw: Lawmakers Scuffle in Ukraine's Parliament The Rock Finds His Inner 'Hercules' Michigan Plant's Goal: Flower and Die Raw: MH17 Passenger Remains in Kharkiv, Ukraine Raw: Israel Hits Gaza Targets, Destroys Mosques ShowBiz Minute: Hoffman, Oberst, Box Office WWII Vet Gets Medals, 70 Years Late Raw: Israel Bombs Multiple Targets in Gaza Veteran Creates Job During High Unemployment Raw: Cargo Craft Undocks From Space Station Widow: Jury Sent Big Tobacco a $23B Message New Orleans Plans to Recycle Cigarette Butts UN Security Council Calls for MH 17 Crash Probe Obama Bestows Medal of Honor on NH Veteran
2013 Photos of the year

Take a look at our most memorable photos from 2013.