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West Deptford Changes Insurance Carriers, Saves $400K

The township committee approved a move to a Joint Insurance Fund Thursday night.

will save close to $400,000 with a switch to a Joint Insurance Fund (JIF) for property and casualty coverage for the next three years, a move that was unanimously approved by the township committee Thursday night.

The change comes after new insurance broker Anderson Jackson Metts (AJM) took the township’s coverage out for consideration, and got five offers, with Statewide Insurance Fund, a JIF that covers 73 public entities in New Jersey, beating out Traveler’s Insurance, the township’s former carrier, by the largest margin, according to AJM’s George Gravenstine.

Though Traveler’s had the contract with the township for roughly a decade, West Deptford treasurer Richard Giuliani said the township had explored moving to a JIF before, but the savings never approached the difference Statewide was offering.

The new property and casualty contract covers the township with a premium of $1.19 million, versus Traveler’s old premium of $1.58 million—a savings of $392,352.

The new coverage also offers some differences in coverage—including increases in flood and earthquake coverage, among others—according to Caroline Conboy, Statewide’s administrator.

“I think there are a lot of improvements,” she said. “West Deptford is definitely benefiting.”

Given the school board dumped one year-to-year JIF for health insurance coverage while she was serving on that board, committeewoman Denice DiCarlo raised concerns over the term and asked if there had been considerations for the long-term trends in the Statewide fund.

“We watched it, and it was going to be very costly, so we got out,” DiCarlo said of the school board’s decision.

Committeeman Sam Cianfarini said the analysis showed the yearly rate hike for Statewide is fairly small.

“On average, the increase would be in the 1.3-percent range,” he said.

Bryan Littel May 06, 2012 at 07:15 PM
That's inaccuate - Solvay Solexis gave money and volunteers, and several local companies donated food and drink for the folks who worked on it.
NJcorruptionsux May 07, 2012 at 04:22 AM
Really? I don't know what I'm talking about? I wrote: WD is hiring 5 new cops. You agreed, they are hiring 5 more cops. So get off your high horse. West Deptford does not need 40 cops. Oh wait, with all the violent crimes that are committed in WD, maybe we do -- NOT! Let me tell you something, I would not call them if my life depended on it! They totally suck. Someone I know was burgularized. He asked one of the cops, Are you going to check for fingerprints? The ignorant cop said to him, Who do you think we are, CSI? They also have a record, and they are notorious for assaulting women in the township, using excessive force, and not complying with OPRA, costing the township 15K, and then appealed it, lost again, and cost the taxpayers more money again! Do they think they are above the law, that they don't have to comply with OPRA? Oh yeah, that's right, they do think they're above the law. And by the way, if you have a gripe with denise decarlo, take it up with her. And look who's talking about how amazing it is how people don't know what they're talking about, there you are running your BIG mouth, I can tell, about no other businesses donating to Field of Dreams, and another business did donate, Solvay Solexis! What a hypocrite you are... are you friends with Anna? lol
WDNeedsHelp May 07, 2012 at 03:24 PM
I guess Sux does not understand how a budget works. If the Police Chief has done his homework and allowed for the new hires in his budget then the hires should happen. If not, I'm sure the new administration will strike it down. I love how there is intentional deflection from the fact that Sam Martin Insurance (IE Democratic supporter and political donor to Denice DiCarlo) was was kicked out as our insurance broker and we instantly save $400K. I bet this was a tough for Donna and Denice to vote yes on, guess they lost that contribution this election. Check the records for yourself. http://www.elec.state.nj.us/ELECReport/StandardSearch.aspx
enjoying life May 07, 2012 at 07:58 PM
Not being a [person that responds to any of these blogs,but this will be my first and last. I want to thank the township of west deptford for providing myself and my family with a great retirement package 4 months ago.Being an employee of the township for 34 years,I must say i'm going to miss this area.Sold my house in sherwood and go to settlement in wildwood crest to spend the rest of my retirement years,with my wife and children and grandchildren. GOOD LUCK TO ALL, and maybe 5 years from now GOD willing i will read that west deptford is one of the most properous twons to live.
NJcorruptionsux May 07, 2012 at 09:09 PM
I guess Help needs some reading glasses? It's NJcorruptionsux. because NJ corruption does sux. And don't involve me in ALL your democrat/republican BS. I'm neither. I vote for who I think will do the best job. You're reading much more into what I wrote. My opinion is WD doesn't need the 40 cops it has now. Let the seven retire, no new hires, and save the taxpayers lots of money, period....

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