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City staff report $1.35M insurance renewal; property values and auto costs drive increases
Summary
Arthur J. Gallagher and city staff briefed the committee on the FY16–17 insurance renewal, reporting a total package of $1,354,414 with a large property valuation increase and mixed changes across coverages; the council moved the item to tomorrow's consent agenda.
Jeff Young of Arthur J. Gallagher and Kathleen Richland, Bettendorf's human resources director, presented the city's annual insurance renewal figures at the June 15 Committee of the Whole.
Young said the total renewal package for the city was set at $1,354,414. He attributed a 27.59% increase in the city's property-and-contents premium to a revaluation that raised insured property values by about $47.5 million; other line changes included a 21.96% rise in auto insurance, a 3.23% increase in general and law‑enforcement liability, and a 5.56% increase for excess coverage. Liquor liability and cyber insurance showed decreases, Young said, reflecting changes in exposure and additional protections implemented by the city.
On workers' compensation, presenters noted the city's mod factor is .80; that lower experience modifier yielded discounts that helped reduce the workers' compensation premium by about 7.09 (roughly $33,721). The speakers also described ongoing safety and training programs with IMWCA and partner jurisdictions intended to sustain favorable loss experience.
After discussion, Council members moved and seconded a motion to place the insurance renewal resolution on the next council meeting's consent agenda; the motion carried by voice vote.
No formal policy changes were approved in the committee meeting; the insurance renewal was presented for review and scheduled for consent consideration at the full council meeting.
