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City insurer briefs Gulfport council on renewals; cyber liability and broader coverage proposed
Summary
AJ Gallagher told the City Council that Gulfport’s pooled insurance program is seeing a modest 1–1.2% increase on casualty and comp lines, potential small savings on work-comp quotes, and recommended adding cyber liability while broadening coverage without increasing the city’s premium.
The council heard a briefing from AJ Gallagher representative Frank Bordeaux about the city’s insurance-renewal status. Bordeaux told the council the casualty program shows a roughly 1.2% increase and that work-comp market options could result in nearly 1% savings on casualty overall; he described Coast Gov Pro property pooling as producing opportunities to broaden coverage and lower some deductibles.
Bordeaux recommended adding cyber liability coverage to meet bond-underwriter expectations and to protect the city’s operations; he also said equipment-breakdown coverage produced a 30% premium reduction on that smaller policy line as a result of the pooled program. Councilmembers asked detailed questions about how particular assets (sports complex fields, scoreboards, fences, leased equipment) are included in the property program and whether netting or turf pellets should be insured. Bordeaux said the team will work with staff to identify what was removed historically and what might be added back, and confirmed a May 1 renewal timeline for some lines.
Council response was generally favorable; staff and the council agreed to have Bordeaux and administration finalize coverage options and return with concrete proposals prior to May renewals.
What's next: Administration and AJ Gallagher to finalize the package and present final renewal terms to the council before the May 1 renewal window.
