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WeGo approves liability and catastrophic auto insurance renewals; liability moves to Obsidian
Summary
The WeGo board approved liability and auto damage/catastrophic insurance renewals June 25; staff recommended moving the liability program to Obsidian Insurance Company with an annual premium of about $1,051,750 and retained a $50 million auto catastrophic policy with a proposed premium of $1,174,008.32.
The WeGo board approved two insurance renewals on June 25: a liability-policy renewal placed with Obsidian Insurance Company and an auto damage/catastrophic coverage renewal that retains a $50 million policy limit.
Vince Malone, presenting on insurance renewals, said the authority's liability program (general liability and auto liability) had been shopped nationally by broker Gallagher. The incumbent carrier Chubb proposed a renewal with a substantial increase; Obsidian (formerly Ohio Insurance Company) provided a lower quote. Staff recommended a one-year liability program with Obsidian with…
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