Impact
WARD / COUNCILMEMBER: Ward / Citywide
$ IMPACT: $675,567
Title
Approval of Property/Liability Insurance annual renewal with Georgia Local Government Risk Management Agency (GIRMA) for $675,567 and authorize Mayor to execute related documents
Ward / Citywide
Body
ISSUE AND BACKGROUND:
The City maintains property and liability insurance with an annual coverage period of May 1 - April 30. Rates are based on a 5-year look back period. Total premium represents a increase in premiums of 6.8%. GIRMA did not increase base rates so the rate change can be attributed to losses and exposures.
RECOMMENDATION / REQUESTED ACTION: Staff recommends approval of Property/Liability Insurance renewal effective May 1, 2022 with Georgia Local Government Risk Management Agency (GIRMA) for $675,567 and authorization for Mayor to execute related documents.