City looks for insurance savings

Nov. 28--The city of Lenoir is checking on its insurance options in hopes of finding savings and better coverage.

Just as it reviewed its health insurance coverage last year, the city is hiring a firm to review its workers' compensation and property liability insurance, City Manager Scott Hildebran said at Tuesday's meeting of the Committee of the Whole.

The Lenoir City Council approved hiring McNeary Consulting Services, based in Charlotte, to study the city's options. The results would come in time for the fiscal 2019-20 budget, which takes effect July 1, Hildebran said.

When the city did a similar study of its health insurance, it switched providers and saved money.

Councilman Todd Perdue, who is also an insurance risk adviser, said the check-up on insurance coverage is well advised, even if the city stays with its current provider.

"I think it's a wise thing to do every five years or so," Perdue said.

The consultation will cost the city about $25,000.