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TO: Mayor John Laesch
FROM: Brian Caputo - Director of Fiscal Integrity & Operations Management; Deborah Lang - Assistant Corporation Counsel III; Paola Hayes - Risk Management Administrative Aide
DATE: December 11, 2025
SUBJECT:
A Resolution Authorizing Purchase of Fine Arts, Cyber and Excess Cyber Liability, Crime, Special Events Liability, Excess Workers Compensation, and Liquor Liability insurance policies for the period of December 31, 2025, through December 31, 2026.
PURPOSE:
To obtain approval of the proposal from the City of Aurora's insurance broker, HUB International Midwest Limited ("HUB International") to purchase Fine Arts, Cyber and Excess Cyber Liability, Crime, Special Events Liability, Excess Workers Compensation, and Liquor Liability insurance policies for the period of December 31, 2025, through December 31, 2026.
BACKGROUND:
The City has historically maintained these types of insurance coverages as part of its overall insurance and risk management program totaling $35M in overall excess liability coverage excluding self-insured retention level of $2M. The 2023-2024 total program cost, including broker service fee was $2,526, 931.00. Last year's (2024-2025) total program cost, including broker service fee was $3,158,753.00.
DISCUSSION:
Our authorized broker, HUB International, reviewed our existing program and solicited additional market bids beyond renewal of the existing program. Hub conducted a full marketing of the city's Property and Casualty program to more than 20 carriers specializing in Public Entity Insurance. See Exhibit A (HUB Premium Summary). The overall bottom line premiums have decreased by approximately 3.78% or $119,551 over last year's insurance package.
HUB went out and sought quotes from numerous carriers. Exhibit A shows the premium/rates and the overall percentage changes from the prior year. The Exhibit highlights in yellow the exposures for the City which include a 1.96% decrease in total insured proper...
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