INSURANCE FUND

The Insurance Fund accounts for resources required to pay liability insurance premiums and claims for the Village. The Fund also accounts for resources required to pay health, vision, dental, and life insurance for Village employees and retirees. Premiums are paid into the Insurance Fund by other funds and are available to pay for the costs of the Village’s insurance program. Funds are also transferred from the Liability Insurance Fund to pay a portion of the Village’s annual contribution to the Intergovernmental Risk Management Agency (IRMA) for liability insurance coverage.