Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Insurance topic
No spam. Unsubscribe anytime.
Abbeville approves $429,117.62 insurance renewal, adds cyber liability coverage
Summary
Council approved renewal of a multi-line insurance package totaling $429,117.62 and agreed to add cyber liability coverage as the city upgrades accounting and GIS systems.
The Abbeville City Council approved a $429,117.62 renewal of the city's insurance package, covering auto and equipment, airport general liability, boiler and machinery and property lines, and added a new cyber liability policy line as a precaution for upgraded city software and hardware.
Ruben Rivera, an insurance representative, presented the renewal and noted mixed changes across lines: an increase tied to total insured value for new vehicles, a specialty three-year airport package with a modest rise, a significant rate decrease for boiler and machinery coverage, and a decrease for property insurance compared with prior years. Rivera recommended adding cyber liability now that the city is rolling out new accounting and GIS systems.
Councilman Hardy moved to accept the renewal as proposed; Councilman Tuchet Mouton seconded the motion. The council voted in favor and the motion carried. Councilmembers praised staff and the insurance committee for competitive shopping; one councilmember noted the convenience of renewing with a local firm. Council discussion included how the city previously reduced property sublimits in prior years to manage premiums and that reducing sublimits increases the city's retained exposure.
