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City staff seeks two‑month insurance extension to allow new broker Alliant to solicit bids
Summary
City staff asked the council to approve a two‑month extension of property and casualty coverage (about $338,088.57) so new broker Alliant can gather additional carrier bids after the city replaced long‑time broker Gallagher.
City staff asked the council during the pre‑council meeting on Aug. 4 to authorize a two‑month extension of the city’s property and casualty insurance coverage while the new broker, Alliant, seeks additional bids from carriers.
A city staff member told the council the change follows a May 20 decision to replace Gallagher as the city's insurance broker after approximately 15 years. “We went with a new broker by the name of Alliant,” the staff member said. The staff member said the proposed $338,088.57 figure represents roughly two months of the city's current premium and that the extension ‘‘isn’t an increase. There’s no change,’’ while Alliant continues outreach to carriers.
Why it matters: The extension preserves continuity of coverage while the new broker completes what staff described as an expanded market presentation intended to secure more competitive pricing and additional carrier interest.
Details presented: Staff noted market pressure on municipal insurance—citing a publicized 27% rate increase at State Farm—and said municipal accounts are not the most desired risk for some carriers. The extension was described as a short rollover so Alliant can “make a much better presentation” of the city’s risk profile and solicit additional bids.
On the agenda: Council memo 4 25 25 is listed as authorization to award a contract extension for property and casualty insurance coverage in the amount of $338,088.57. The pre‑council remarks did not record a subsequent vote.
