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Committee punts decision on SIVMEC membership for 2026–2028, asks staff to seek alternatives
Summary
The Finance Committee agreed to defer final action on continuing membership in SIVMEC for policy years 2026–2028 and asked staff to seek comparative quotes, including from the League of Municipalities program, before the next meeting.
The Wausau Finance Committee on Aug. 12 deferred action on a three-year membership renewal with SIVMEC, the city’s mutual insurance carrier, and asked staff to obtain comparative information on other options before the next meeting.
Staff noted the city has historically been presented a three-year contract option with a self-insured retention and aggregate levels; staff said the 2026 premium under one option would be about $220,000. Committee member Tierney asked whether staff or the League of Municipalities offered an alternative insurance program, and committee members asked staff to follow up. “Rather than just going full bore ahead with this, it would be wise to get some other quotes,” said a committee member.
Committee members instructed staff to contact the League of Municipalities and other potential carriers and return the item with additional information at the next Finance Committee meeting. If staff does not receive alternative proposals in time, the committee indicated it will revisit the item at the next scheduled meeting rather than approve renewal without comparison.
Speakers on this item included staff and committee members who requested further quotes; no membership renewal was approved at the Aug. 12 meeting.
