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Newington council approves three‑year insurance rate‑lock, authorizes assistant town manager to sign
Summary
The council voted unanimously July 8 to accept a three‑year rate stabilization plan with the town’s insurer, holding this year’s premium to flat (0% increase) vs the budgeted 1.5% and saving roughly $15,000; the council authorized Assistant Town Manager Lauren Ryan to sign the agreement and named USI Insurance Services as agent of record.
The Newington Town Council on July 8 approved a three‑year budget stabilization (rate‑lock) plan with the town’s municipal insurer and named USI Insurance Services of Meriden as the town’s agent of record.
Staff told the council the insurer offered to treat the current year as the first year of a new three‑year rate‑lock, which reduced the immediate premium increase to 0% instead of the 1.5% the budget had anticipated. Town staff estimated the change will save about $15,000 in the current fiscal year.
Council asked for clarification on the arrangement. Staff explained the insurer requested a signed commitment (a waiver to allow action tonight) to formalize a new three‑year agreement; in exchange the carrier provided a rate cap and the town agreed to remain with the carrier for the term so the insurer secures multi‑year business.
The council read and approved a resolution directing USI Insurance Services of Meriden to place workers’ compensation, general liability, automotive liability, professional liability and umbrella coverages with the Connecticut interlocal risk management agency, effective July 1, 2025 through June 30, 2028. The council also authorized Assistant Town Manager Lauren Ryan to sign the associated three‑year rate‑lock agreement.
Councilors thanked members of the town’s standing insurance committee for quickly convening to evaluate the offer. The resolution passed by unanimous voice vote.
No specific insurance premium dollar totals beyond the estimated $15,000 annual savings were read into the record. Council amended an internal date in the draft resolution (the effective year) prior to the vote; staff confirmed the effective date as July 1, 2025.
