Title
An Ordinance approving the FY2025 Property and Liability Insurance program, authorizing the City Manager to enter into agreements with Chubb Insurance and Travelers Insurance for FY2025; and appropriating funds therefore, and authorizing the City Attorney to approve claim settlements in amounts not to exceed $20,000.00 per claim and the City Manager to approve claim settlements up to $75,000.00 per claim all as an Emergency Ordinance pursuant to Sections 3.13 (f)(1) and (3) of the Charter for the City of Lee's Summit, Missouri.
Body
Key Issues:
• Each year the City Council considers and approves the City’s property and liability insurance program.
• In 2024, the City changed carriers for its liability coverage from States Self-Insurers Risk Retention Group, Inc. (“States”) to Travelers and Chubb insurance companies
• Travelers Insurance and Chubb Insurance has submitted a package for FY 25 with the following coverage:
1) Property Value $320,000,000 total value
2) General Liability $2,000,000
3) Automobile/ Auto PD $2,000,000
4) Umbrella $10,000,000
5) Employment Practices $2,000,000
6) Public Officials E&O $2,000,000
7) Law enforcement/legal $2,000,000
8) Crime $1,000,000
9) Cyber ...
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