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Commission approves one-year insurance renewal after deductible increase tied to litigation
Summary
The commission approved a one-year renewal of the city's property and liability insurance despite a significant deductible increase attributed to ongoing litigation; staff will solicit bids and reevaluate coverage later in the year.
The Boyne City Commission approved renewal of its property and liability insurance for a one-year coverage period after staff said the insurer required a substantially larger deductible than in prior years, a change staff attributed in part to ongoing litigation exposure.
City staff noted the deductible rose significantly (staff referenced an increase from roughly $2,500 to $25,000) and that changes to employee-practices-liability coverage contributed to the cost. Commissioners agreed the city must remain insured and directed staff to include a vendor solicitation and a comprehensive review on the calendar for the coming fall to seek alternative options once the immediate issues settle.
The commission authorized staff to execute documents to bind coverage for the February 1 coverage period and asked for a scheduled review and solicitation of quotes in advance of next year's renewal.
