City of Marion Agenda Packet City Council Work Session 2026-06-16
Marion Plans FY26-27 Insurance Renewal With ICAP
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Description
City of Marion staff recommends continuing with ICAP as the primary insurance carrier for FY 2026-2027 at a total premium of $666,319 covering property, liability, auto, cyber, and excess lines. The proposal reflects a modest overall 2% increase in insurance costs compared to the prior year.
Contract Details
Contract Amount
$666,319
Vendor
ICAP
Agency
City of Marion, IA
Contract Type
INSURANCE
Document Date
June 16, 2026
Contract Term
Fiscal Year 2026-2027
Renewal Date
2027-06-30
Renewal Info
Annual renewal of the City's primary property and liability insurance coverage with ICAP for FY26-27, with line-item premium changes ranging from -14% to 8% across coverages.
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