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Town and PWA staff report OMAG insurance review; old water tower liability capped
Summary
Town Administrator reported results of an OMAG insurance review: coverage exists for both water towers, the older tower has a $75,000 liability limit that cannot be increased, and staff will remeasure building square footage for valuation corrections.
Administrator Jeff Wilbourn briefed trustees on the annual OMAG insurance review, saying OMAG confirmed coverage for both water towers and that the older, out‑of‑service tower is covered for liability purposes with a limit of $75,000. Wilbourn said "this coverage cannot be increased" and that the cost to maintain the liability coverage is minimal. He also reported discrepancies in reported square footage for certain buildings (police department and library) and said he will remeasure and submit corrected figures to OMAG for reevaluation under the policy's 30% margin clause.
PWA staff later confirmed the Public Works Authority's property insurance mirrors Town coverage through 2027 and that the same valuation issues apply to the PWA building and sewer plant. Trustees did not take formal action beyond directing staff to correct reported measurements and follow OMAG guidance.
