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Commission approves $1.09 million property/casualty renewal with Travelers and Chubb
Summary
After staff and broker briefings, the commission authorized the city manager to execute insurance renewals with Travelers ($567,499 liability/commercial auto) and Chubb ($523,975 property/inland marine) for a total of $1,091,474; staff noted a roughly 12% overall premium increase and limited carrier options for municipalities.
Nancy Schussler, Salina’s risk manager, presented the property-and-casualty renewal and said the market remains constrained for municipalities. She recommended authorizing the city manager to execute two contracts: Travelers for liability and commercial auto ($567,499) and Chubb for property and inland marine ($523,975), a combined $1,091,474. Schussler said Chubb’s property deductible is 1% per location with a $100,000 minimum and that TPEC has a 2% / $250,000 minimum.
Mark Skidmore of Iron Insurance Partners, present to answer questions, described a narrow municipal marketplace and why staff used broker and consultant resources. After brief public questions about deductibles, Commissioner 1 moved and Commissioner 7 seconded the motion to authorize the city manager to execute the agreements; the motion passed 5–0.
