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Board authorizes annual insurance renewal; premium rises by $486.92
Summary
The town board voted to authorize the supervisor to bind the annual insurance policy. The supervisor said the premium rose by $486.92 over last year and described the total policy at roughly $31,000 with slightly increased cyber coverage.
The board voted to authorize the supervisor to sign paperwork to bind the town's annual insurance policy after the supervisor described the coverage and a modest premium increase. "We had a we call it a small increase from what I've seen, $486.92 from last year," the supervisor said, and noted overall policy cost is "31,000, roughly." The coverage was described as the same as last year with a slight increase to cyber coverage.
Board members reviewed the policy in their folders and the supervisor said the packet contains approximately a 30-page policy document reviewed with the insurance agent. The motion to authorize the supervisor to sign the authorization passed; the supervisor said the signing would happen the following day. The supervisor also said the insurer has been responsive and the town has the option to shop coverage in future years.
No additional changes to coverage were reported at the meeting; the board noted the payment timing and that the balance is due upon completion for other contracted work discussed later in the agenda.
