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Olney accepts 2025 insurance renewals; combined increase roughly 5%
Summary
Council accepted renewal proposals for liability, property, workers' compensation and auto coverages for 2025; staff said the combined increase was about 5%, lower than earlier expectations and favorable compared with some individual lines that saw larger hikes.
The council reviewed proposals to renew municipal insurance programs for 2025, including liability, property, workers' compensation and auto coverages. Staff summarized the renewal memo and said the total increase across lines was roughly 5%, a better outcome than anticipated given market pressures — though staff noted some individual coverages (e.g., property and auto) saw higher increases.
Council moved and approved the renewals after the staff presentation. The action is administrative and intended to maintain continuous coverage for city operations.
Representative detail: staff said, "It's increasing about 5%, which is actually really, kind of under the mark where we thought the renewals were going to hit."
