Note to Council: Understanding Insurance.
I await the disclosure of further statistical information about the 2016 Fire Rescue Budget. I am particularly interested in the way in which the capital investment in a new fire station (circa $2.7 million +equipment) and some $2+ million a year in additional operating payroll in perpetuity will be covered. Is there an agreement with the companies which ensure Nanaimo’s homes and businesses against destruction by fire that they will reduce the rates charged to home and business owners if the response time is reduced to 6 minutes or better? Or are we simply reducing insurance company costs at our expense?
Certainly no one will dispute the need for fire and rescue protection. But neither will many dispute the fact that there are a great many risks to life, health and property all around us –earthquake, flood, traffic, asteroids– each of which commands our respect, our attention and to some extent or another, our financial support. The trick is to find balance. This is what insurance companies are all about. If it makes no difference to them, what difference should it make to the taxpayers of Nanaimo?