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Osage Beach staff recommend 15% property and liability premium increase after new appraisal
Summary
City staff told aldermen a recent building appraisal raised insured values substantially and recommended budgeting a 15% increase for property and liability premiums as a cautious planning estimate. Staff said the city remains in the NPR risk pool and will put coverage out to bid next year; the pool’s averaging mitigates the immediate full impact.
City staff told the Board of Aldermen that a recent building appraisal raised replacement and content values and that the appraisal, combined with recent claims experience, could increase property and liability premiums.
Staff said NPR (the city’s insurance pool) initially gave general guidance…
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