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Committee forwards $39.5M insurance brokerage increase to board
Summary
The committee recommended a $39.5 million increase to the city’s Alliant Insurance Services brokerage agreement—bringing it to $74 million—to fund property insurance procurement for specified public facilities over the next three fiscal years.
The Budget & Finance Committee recommended that the Board of Supervisors approve an increase to an existing contract with Alliant Insurance Services by $39,500,000, bringing the not‑to‑exceed amount to $74,000,000. Matt Hanson, director of risk management in the City Administrator’s Office, said the amendment is intended to cover procurement of property insurance for specific public structures that are income producers or required to carry coverage by financing covenants.
The Budget Analyst Office confirmed the request and clarified that the legislation before the committee listed a 2020 end date while authorizations in the prior resolution allow multi‑year extensions; the parties agreed to forward the item to the board with a positive recommendation.
Hanson said most other public properties are covered under the city’s self‑insurance program and this contract specifically covers select enterprise and covenant‑required facilities.
