FORT WAYNE, Ind. – In a year that has seen a number of turbulent meeting topics with TRAA and Red River, For Wayne’s city council breathed easy when the city financial status report was presented on Tuesday night.
The report was given by SG-Risk who concluded that ultimately Fort Wayne has managed insurance and workers comp claims so efficiently it has saved the city an estimated 25 million dollars since partnering with SG-Risk.
Jon Griglack of SG-Risk praised the city’s decision to self insure, and the risk management department for making claims fast.
“When the self-insurance program is really ran very well, risk management is great. You save a lot of money by not paying those premiums to insurance companies,” Griglack said.
The city decided to self-insure in 1989 and established the Workers’ Compensation Fund in 1991.
Both Griglack and Jim Stergiou of SG-Risk- who also presented to council- said that the city saving this much money on claims and workers comp is “nearly unheard of.”