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Hoover council approves renewal of crime, cyber, drone and property insurance; small premium changes reported
Summary
Council approved four insurance renewals covering crime, cyber liability, unmanned aircraft and property; staff said the renewals were budgeted and mostly saw minimal premium changes or savings.
The Hoover City Council voted on June 23 to renew four municipal insurance policies covering employee theft and certain 911-exchange liabilities, cyber liability, unmanned aircraft (police drones) and city property.
City staff presented the renewals and advised the council that each renewal was budgeted. The crime-insurance policy with Travelers Casualty Insurance Company of America was renewed with a modest premium increase of about $829 but with a rate locked for a three-year term, staff said. The council approved the renewal by roll call.
Councilors also approved renewal of the city’s cyber liability policy (also with Travelers) after staff described expanded coverage added last year, including extortion protection for ransomware and privacy-breach notification costs; the net premium increase was about $391 for the year. The council approved renewal of the unmanned-aircraft policy for the Police Department’s 23 drones and three cameras; that premium fell this year producing a savings of about $5,217 despite the department acquiring two new drones. The property-insurance renewal with Alliant Insurance Services, covering buildings, contents and high-value vehicles (and including boiler, machinery and pollution coverage), came in under budget with a savings of about $14,977.
Staff told the council the policies were reviewed with an insurance consultant and recommended renewal. There were no public comments on the renewals and each resolution passed on a roll call vote.
The council’s action authorizes the mayor to execute the renewal agreements and keeps the city’s insurance coverages intact heading into the second half of the fiscal year.
