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Coffeyville renews liability and power-plant policies with modest premium change amid market constraints
Summary
The commission authorized R-25-69 to renew the city's liability insurance and a separate policy for electric operations; staff said the renewal produced only a 1% increase and described market reluctance from some insurers because of levee and geographic risk factors.
The Coffeyville City Commission approved Resolution R-25-69 on June 24 to authorize issuance of purchase orders for the city's liability insurance and a separate policy covering the power plant. Director of Finance Martin Cummings presented the renewal and said the combined premium rose about 1% to $674,599 for the year beginning July 1, 2025.
Cummings and other staff explained the city has faced difficulty attracting competing bids in recent market cycles. Staff said an insurer that previously underwrote the city dropped coverage in 2023 and that many firms declined to quote in that procurement round. The broker and staff recommended continued participation in a municipal risk pool, Midwest Public Risk, with Gallagher as broker, noting that municipal pools can provide coverage where private markets are unwilling to quote because of actuarial concerns tied to geography and the city's levee risk.
Commissioners also asked about cyber-liability options and employment-practices coverage. Staff said the city is updating IT protocols and plans to seek cyber-specific underwriting once controls are in place; they indicated limited value in certain terrorism or EMP riders and described market limitations for those coverages.
The commission approved the resolution by recorded vote. Staff said follow-up steps include executing purchase orders and continuing discussions with the broker about future rebidding and coverage options.
