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City attorney and finance brief council on rising insurance and litigation costs
Summary
City Attorney and finance staff told the retreat that excess insurance costs have grown substantially over the last decade and that next year's premium outlook could increase the city's excess coverage costs materially; litigation and claim values have also risen since the pandemic.
The city attorney and finance office briefed council on March 8 about trends in claims, litigation and insurance costs and urged attention to rising liability and compliance costs.
City Attorney Lawson (title in transcript) and interim Finance Director Sharif Edmond said that claims and litigation values have increased since the pandemic, even when the number of claims remains similar. The city attorney's office noted that litigation activity rose after…
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