Risk Management

About Us

Risk Management is a division within the City's Department of Finance. Risk Management's responsibilities have grown to include more than just administering and providing the most affordable comprehensive insurance coverage for claims associated with liability, workers compensation, health, life, dental, and disability.

Our Mission

  • Participated in the Medicare D reimbursement program, returning another $104,000 to the City for retiree medical expenses.
  • Successfully bid Medicare surround program that will continue with the same provider and same benefits under a self‐insured basis with an estimated annual savings of $140,000
  • Successfully bid Prescription plan which will consolidate with current health provider which will make administration more efficient and an estimated annual savings of $550,000 in Fiscal Year 2018 / 2019.


Cost savings measures that do not impact the quality of programs are reviewed every year.

  • Participation in the Health Savings Account health plans increased, creating savings for both the City and employees while continuing quality medical benefits.
  • The Risk Management Division continued participation in the Medicare D reimbursement program, returning another $116,000 to the City to reduce retiree medical expenses.
  • We've added features for the upcoming plan year to make access to medical and prescription services more convenient at lower costs, increase adherence to recommended treatments, and increase long term savings.

Insurance Contracts

Insurance contracts shall be purchased after consideration of informal proposals from at least three prospective insurers; provided, that prospective insurers are given an opportunity to submit their qualifications and estimates of cost to render the desired service.

A board of review composed of the risk manager, the director of finance, corporation counsel and the mayor, or their respective designees, shall, by majority vote, make all decisions regarding the proposals. In the event that the city seeks to purchase insurance contracts insuring the interests of the Danbury Board of Education, the board of review for such purposes shall include the superintendent of schools, or his or her designee. Such board of review may waive the requirement of obtaining at least three informal proposals where necessary due to unavailability or impracticability. Nothing herein shall be construed to prevent the Danbury Board of Education from acquiring insurance without regard to the provisions of this section if deemed by the board to be in the best interests of the Danbury School District.

(Ordinance Number 425, 9-4-91)