TO: Mayor and City Council
FROM: Elizabeth Coronado Abrego, Director of Human Resources
SUBJECT:
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Approval of Property, Liability, and Workers’ Compensation Insurance Renewal
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BACKGROUND:
The City’s property, cyber, liability, and workers’ compensation insurance coverages are scheduled to expire on September 30, 2026. The City’s broker, Alliant Insurance Services, solicited renewal pricing from multiple carriers.
For this renewal period, the only changes to the coverages are the addition of terrorism coverage and volunteer coverage. All coverages are outlined in the attached packet. The coverage period will run from October 1, 2026, through October 1, 2027.
Renewal premiums reflect a moderate increase, rising from $2,330,797 to $2,375,395, or 1.91%. Contributing factors include continued liability claim exposure, increased drone program exposure, and a 9.54% rise in workers’ compensation payroll exposure.
CONCLUSION:
The City has successfully secured renewal pricing for its insurance program through Alliant Insurance Services. The moderate premium increase is primarily driven by liability claim exposure, expanded drone exposure, and increased workers’ compensation payroll. Coverage will remain in force from October 1, 2026, to October 1, 2027.
RECOMMENDATION:
recommendation
Based on the information above, it is recommended that the Mayor and City Council Approve the Property, Liability, and Workers’ Compensation Insurance Renewal.
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