Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Members approve property, casualty and cyber insurance renewals and reject terrorism coverage
Summary
Meeting participants approved renewal quotes for property, casualty and cyber insurance, accepted changes to premiums and vehicle valuations, and voted to exclude terrorism coverage from the property package.
Members present at the meeting approved renewal quotes for the governing body's property, casualty and cyber insurance policies and voted to exclude terrorism coverage from the property package.
Brooke, an insurance consultant with Norris Insurance Consulting, told members the combined property and liability package she recommended would total $3,298,001.97, a $391,000 decrease from the current expiring package after adjustments. She said the liability renewal premium would be $741,290 — roughly a $130,000 increase — driven mainly by growth in the number and value of vehicles insured. "Right now, as of today, we have 461 units and we're gonna have, we're anticipating 17 more new buses before October 1," Brooke said, explaining the increase in auto liability exposure.
Brooke said the insurer and broker relationships on the package remain unchanged,…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
