The City of Sedalia has awarded a three-year contract to IMA Financial Group to handle the city’s insurance and worker’s compensation programs.

The city council voted Monday, Nov. 18 to go with the recommendation of the city’s human resources department. City administrator Kelvin Shaw says managing insurance costs has become a more significant issue in recent years.

The city received ten bids and identified their top four before ultimately going with IMA. Shaw says the company will not receive a commission but rather a flat fee.

Sedalia will pay $80,000 each of the first three years and then $85,000 for each the fourth and fifth year of the contract.