Title
Resolution to Accept Special Board of Insurance Administration Meeting Minutes for February 2, 2012
Memorandum
Attached for your review and approval are the minutes and resolution regarding the Insurance Board meeting which was held on February 21, 2012 for the purpose of discussing the City's property and liability insurance coverage renewal and making a recommendation to City Council.
Staff
Prepared by : Sarah Singleton, Management Assistant
Reviewed by: Tom Crawford, Chief Financial Officer and Abigail Elias, Chief Assistant City Attorney
Body
RESOLVED, That the attached Special Board of Insurance Administration Minutes of February 21, 2021 be accepted and that the recommended course of action therein be approved and authorized.
SPECIAL MINUTES
CITY OF ANN ARBOR BOARD OF INSURANCE ADMINISTRATION
FEBRUARY 21, 2021
2:30 P.M.
PRESENT: Tony Derezinski, Councilmember
Matthew Horning, City Treasurer
Matt Horning called the meeting to order at 2:35 p.m.
OLD BUSINESS
None
NEW BUSINESS
The insurance Board met to review insurance policy renewals effective March 1, 2012. The attached schedule illustrates detail of an overall 2.1% increase over last year's premium mainly due to higher property values, e.g. Justice center. The Board authorized binding of coverage as summarized on the attached schedule.
Matthew Horning made a motion to bind coverage as indicated in the attached schedule subject to council approval. Tony Derezinski seconded the motion. The motion passed.