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Board approves liability insurance renewal; premium rises about 8% to $37,007.47
Summary
After reviewing renewal quotes and schedule updates tied to recent capital work, the board approved renewing liability coverage at a total premium of $37,007.47, an increase of roughly 8% from the prior year.
The Delaware County Regional Wastewater District approved a liability insurance renewal at a premium of $37,007.47, a roughly 8% increase from the prior year's $34,091, the board heard Sept. 25.
Jason (staff member) told the board the increase reflects updates to insured schedules — new generators and an extension on Overlook Drive — and other exposures. He said last year’s solicitation and changes to carriers had produced a roughly 30% savings compared with an earlier renewal. For the coming year, the renewal with Grundy was recommended despite the 8% increase.
"Last year's cost was $34,091. And they came in at a overall price increase of 8% to take us to $37,007.47," Jason said. The board approved the recommendation on a voice vote.
Staff will proceed with the renewal and return any additional documentation requested by board members at a subsequent meeting.
