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Lamar council approves $582,411 insurance renewal, expands cyber coverage
Summary
The Lamar City Council authorized renewal of the city's property and casualty insurance with the Iowa Communities Assurance Pool at a total annual cost of $582,411, a 7.03% increase driven primarily by newly itemized cyber coverage. Council and staff discussed the higher cyber limit before approving the renewal.
The Lamar City Council on Nov. 4 authorized renewal of the city's property and casualty insurance with the Iowa Communities Assurance Pool at a total annual cost of $582,411, following a presentation from the pool's representative.
City staff and Matt Susumil of Perspective Insurance told the council the overall premium is up 7.03% from last year, largely because cyber liability was removed from the bundled general liability line and offered as a separate item with an increased…
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