The May meeting of the Litchfield Town Board was called to order by Supervisor Jim Entwistle.
A New York Municipal Insurance Reciprocal representative reviewed the Town of Litchfield insurance policy. He stated NYMIR was celebrating its 30th anniversary this year.
NYMIR is a not-for-profit organization that has grown to insure over 1,000 municipalities. NYMIR is an A-rated company, has $50 to $60 million in reserves, and 70% of its claims are settled with no payouts.
The company is run by its board, which is made up of municipal officials. He advised the Town of Litchfield was the first municipality he had, when he started with the company in 2004.
The increase in NYMIR insurance for 2023 will be 6%.
Entwistle reported on a phone call to Jerry Stacchi from JGK Associates. He was advised everything is a go…