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Council approves $2.22 million in city insurance premiums, increases Truckee Meadows deductible
Summary
Sparks City Council unanimously approved renewal of property, casualty, cyber and workers' compensation policies with estimated premiums of $2,222,404 plus $30,000 for cybersecurity services and agreed to raise the Truckee Meadows Water Reclamation Facility deductible to $100,000 to reduce premiums.
The Sparks City Council on July 6 authorized the city manager to execute renewal insurance policies covering property, casualty, cyber liability and excess workers’ compensation with an estimated total premium of $2,222,404 plus $30,000 for cybersecurity services, to be charged to the IT security budget.
Risk Manager Mike Payne presented the renewal,…
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