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City hears insurance renewal presentation; overall premium rises about 5.8%
Summary
An insurance agent summarized 2025 renewal trends and recommended carrier BMC; the city’s overall property/ liability renewal premium rose from $2.22 to $2.35 (approximately a 5.76% increase). Auto costs were called out as up about 20%.
Jeff Kronister, an insurance representative for the city’s risk manager, presented the proposed 2025 liability, property, auto and cyber renewals and recommended the carrier BMC, noting that BMC is Midwest-focused and has limited exposure to coastal storm losses.
Kronister outlined industry pressures: an above-average named-storm year in 2024 (staff cited…
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