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Council ratifies small insurance increase to avoid lapse; questions terrorism coverage line
Summary
Staff reported a $351 unplanned increase tied to terrorism coverage on the town’s insurance policy; the council ratified payment to prevent a lapse and asked staff they may seek to remove the optional coverage with the insurer later.
Staff told the council that the insurance policy renewal came in $351 higher than expected after a terrorism coverage box was included in the policy calculation. Counsel explained that terrorism coverage would only trigger if an event were deemed a terrorism attack and encouraged the council that the town must avoid an insurance lapse.
Committee member (Speaker 4) moved to ratify payment for the additional charge to maintain coverage and Speaker 5 seconded the motion; the council ratified the payment and staff said they would explore whether to remove that optional coverage in future communications with the insurer.
