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Peekskill council approves 2025 insurance package after manager presents higher premiums and revised figures
Summary
City manager reported a near-13% overall increase to insurance costs with notable rises in property and public‑entity liability premiums; council approved the 2025 insurance purchase as resolution j4 after the manager provided a revised document correcting last-minute changes.
Tony presented the city’s 2025 insurance renewals and said the city received market quotes through Alliant Insurance Brokers. He told the council that commercial property insurance rose from $202,698 to $223,499 (about 10%) and that the public‑entity liability group rose from $501,731 to $579,453 (about 15.5%).
"That is a significant change in this policy," Tony said, and he noted the SIR (self‑insured retention or deductible) for law‑enforcement, public officials, and employment practices liabilities had increased to $500,000 to keep premiums lower. He also listed smaller increases and flat renewals for cyber, flood, and active‑assailant coverages.
Council members raised questions about apparent discrepancies in the packet numbers. Tony acknowledged last‑minute adjustments — including newly insured vehicles and a $5,000 increase in the broker fee — and handed the council a revised resolution with corrected figures before the vote. Because the agenda materials were corrected at the meeting, the council moved and unanimously approved resolution j4 to purchase the 2025 insurance policies and allocate liability costs to the general, water, sewer, and Section 8 funds as presented.
The transcript contains transcription errors in one packet passage (an implausible broker‑fee figure) that the city manager addressed by providing a revised document; the article reports the corrected, council‑adopted outcome and the material figures Tony read aloud.
