The Hays City Commission will be asked to renew the city’s commercial insurance policy during its 6:30 p.m. meeting Thursday at city hall.
There only was one bid submitted, coming from the city’s current carrier BRIT Insurance in the amount of $196,220. Six other carriers were asked for quotes but declined to bid, said Christina Pyle with Arthur J. Gallagher, the city’s insurance broker.
“We did go out to market this year for the insurance renewal, which hasn’t happened in a couple of years,” Pyle said at last week’s city work session. “We wanted to make sure we were doing our due diligence to be sure we’re getting the best price for the city, and we approached six carriers. … All did decline, simply because they could not compete with the pricing.”
BRIT Insurance’s bid reflects a 4.9-percent increase from this year’s policy. The increase is partly due to a few property and auto claims submitted by the city this year, Pyle said.
The price had dropped the previous two years.
Other agenda items will include an update regarding water conservation incentives and rebate programs, as well as a financial report for the month of May.