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Council approves Chubb insurance renewal for power-plant engines at $69,322
Summary
The Meade City Council approved renewing a Chubb insurance policy covering power-plant engines at $69,322, raising the deductible from $50,000 to $75,000 and adding terrorism coverage ahead of the April 1, 2026 renewal.
City Administrator Dean Cordes presented options for the Chubb insurance policy that covers the city’s Power Plant engines and related equipment, which was due to renew on April 1, 2026. After discussion on coverage options, the council voted to increase the deductible from $50,000 to $75,000 and add terrorism coverage; council then approved the renewal for $69,322 on a motion by Council member Brian Kroth, seconded by George Lucas. Minutes record the motion as carried with all in favor.
Cordes led the presentation and answered council questions about coverage options and inspection requirements tied to insurer conditions. The renewal and deductible change were recorded as formal council action; the minutes do not list alternative premium figures or long-term premium impacts beyond the single renewal amount.
