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Council debates insurance renewal and broker authorization as premiums, deductibles rise
Summary
Council reviewed a broker‑led renewal that raised property coverage and deductibles and added cyber liability; members pressed for claims history and higher umbrella limits before approving broker authorization and asked administration for follow‑up.
Councilors reviewed a proposed renewal packet for the city’s property, fleet and liability insurance and the broker authorization presented by the administration on Feb. 23.
Administration representatives said the renewal shows a single‑digit overall increase in premium relative to the expiring policy but noted a substantial rise in blanket contents/building limits and higher deductibles; the package also included a new cyber‑liability policy. The administration said the quoted annual premium in the current package is about $417,073 (the prior…
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