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Santa Fe council approves $3.96 million renewal of city insurance program
Summary
On June 30 the Santa Fe City Council approved a $3,959,968.57 renewal of the city's comprehensive insurance program for plan year 2025'2026, authorizing broker Arthur J. Gallagher to bind coverages and restructuring excess liability and law-enforcement liability placements.
The Santa Fe City Council on June 30 approved renewal of the city's comprehensive insurance program for plan year 2025'2026, authorizing broker Arthur J. Gallagher to bind coverages totaling $3,959,968.57.
The vote came at a special meeting called at the end of the fiscal year to avoid a lapse in coverage. Councilors approved the renewal by roll call after staff explained changes to retention levels and carrier placement.
Andrea Phillips, who presented the item to the council, said the timing was driven by the fiscal-year end and warned a lapse would occur without approval. "This is the end of our fiscal year, and, unfortunately, the timing is such that we, will have a lapse in coverage unless this is approved this evening," she told the council. Phillips told members the city received quotes from about 14 carriers and that "the good news is that our insurance premiums have actually gone down." She said the city will move its excess liability from a $1,500,000 self-insured retention to a $1,000,000 retention and that law-enforcement liability will be placed with a different carrier than general excess liability.
Councilor Castro asked for clarity about how the separate law-enforcement placement would be handled and requested a follow-up after contracts are signed. In a question from the dais she asked, "Just bridal. So will that separate contract for law enforcement be approved separately?" Phillips replied that council was being asked to authorize entering insurance with each carrier through Arthur J. Gallagher and that the city will receive binders with the details once the agreements are in place. Castro also asked that staff provide a report back once the city signs the binders.
Mayor Weber and six councilors recorded affirmative votes; several members were excused. The motion passed and authorizes staff to bind the 2025'2026 program through the city's broker.
Staff said the city will provide the formal binders detailing each carrier and line of coverage after agreements are finalized. Councilors requested a report back to confirm final carrier placements and policy details.
