NITRO, W.Va. -- Nitro City Council voted to change municipal liability insurance carriers to One Beacon Insurance at their meeting Tuesday night. The move from Garlow Insurance will save taxpayers $85,000, Mayor Dave Casebolt said.
"The lower premiums, lower deductibles and higher coverage available with the new vendor makes this simply a business decision," he said. "While the service the city received from Garlow Insurance and Travelers has been excellent, we have a responsibility to the citizens."
Atlantic Specialty Insurance Co., which operates under One Beacon, has an "A" (excellent) rating and $1 billion in reserves to pay out claims, said Buddy Butts, vice president of Public Entities of America, a brokerage firm that deals with liability issues.
"We write $6.5 million in premiums for West Virginia cities every year and operate in 32 states countrywide," he said.
When the new premium package from Garlow came in well over budget in July, city officials, on the recommendation of representatives from other local municipalities, obtained a quote from One Beacon, according to the mayor.
Council voted to use some of the money saved from this action to pave streets.
West Virginia Paving will resurface Smith Street, Easter Road, Eighth Street and Martins Court, according to Paving Committee Chairman Bill Javins. That will cost $113,615.