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Council approves $601,000 insurance renewal package; city switches cyber carrier to avoid higher deductibles
Summary
The council approved a property, liability and cyber insurance renewal for FY26 with an overall premium increase of roughly 8.1% (about $45,000), and staff recommended a carrier change for cyber coverage to keep deductibles reasonable.
The Warrensburg City Council voted to accept a proposal from Mike Keith Insurance to renew property, liability and cyber policies for fiscal year 2026. Assistant City Manager Kristen Dorman said the insurer-marketed renewal resulted in an 8.1% increase — approximately $45,000 — bringing the total premium to about $601,000, an amount that was included in the current budget.
Dorman and an insurance representative explained the notable change involved cyber insurance: the prior cyber carrier proposed ten‑fold increases in deductibles on some lines (from roughly $7,500 to $75,000, and $2,500 to $25,000). Mike Keith Insurance marketed the city's account to an alternative carrier offering lower deductibles and a similar premium; staff said the alternative provides pay-on-behalf coverage rather than reimbursement and is marginally less expensive than the high-deductible offer.
Council members thanked staff and the insurance representative for shopping the renewal; staff credited the IT department's multifactor authentication work for helping to obtain the better offer. The council moved and adopted the resolution to accept the insurance proposal.
The resolution was approved by recorded vote; staff noted the FY26 budget included the renewal amount and that more detailed policy documents are available through the administrative services office.
