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Trustees approve renewal of fiduciary liability policy; premium drops slightly
Summary
The board approved renewal of the fiduciary liability insurance policy procured through the city; staff said the premium decreased by $27.12 for the same coverage and trustees approved renewal by roll-call vote.
Staff reported the city's procurement process had produced quotes for fiduciary liability coverage and recommended renewing the policy. The staff update said the premium would decrease by $27.12 for the same coverage compared with the prior term.
A trustee moved to approve renewal of the fiduciary liability policy; the motion was seconded and passed by roll-call vote with affirmative votes recorded. Staff will proceed with the renewal through the city's procurement process.
