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Lake City Council approves PGIT as property and casualty insurer in 3-2 vote
Summary
The Lake City Council voted 3-2 on Sept. 29 to approve Resolution 2025-141 selecting Preferred Governmental Insurance Trust (PGIT) as the city's property and casualty insurer effective Oct. 1, after a presentation from broker Gallagher and debate over whether long-term incumbent FMIT would match PGIT's price.
The Lake City Council on Sept. 29 voted 3-2 to approve Resolution 2025-141, selecting Preferred Governmental Insurance Trust (PGIT) as the city's property and casualty insurance carrier starting Oct. 1, 2025. The resolution authorizes the city manager to direct payment of premiums and take steps to finalize the policy.
Council members debated a competitive presentation from broker Gallagher, which solicited quotes from three carriers and reported hard-dollar premium reductions of roughly $440,000 to $625,000 compared with the expiring policy. Justin Terry of Gallagher told the council the review produced three full proposals and that PGIT appeared to be the lowest-cost option with slightly stronger coverage in the firm's analysis.
The discus…
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