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October 21, 2014, 5:26 am
970 WMAY News

City's Self-Insurance Fund About To Take A Hit


The City of Springfield’s self insurance fund is ready to take a multi-million dollar hit because of a possible settlement before the city council.

 

An ordinance before the City Council would transfer $900,000 from City Water Light and Power as a deductible in the case… part of a proposed initial payout of $1.2 million for a debilitating injury suffered by a worker at the utility in 2010. The city would then make annual payments for a total of claim of nearly $3 million.

 

Corporation Council Mark Cullen says the city’s self insurance fund has accumulated around $10 million over the years and is there for these types of cases. Cullen says if the city took the case to trial, instead of settling, there’s no telling what kind of damage award a jury might grant.

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