INSURANCEAWARDED

Village of Fox Crossing Board of Trustees Regular Meeting Agenda May 2026

Village awards multi‑year insurance contract to CVMIC

Estimated annual premiums totaling approximately $316,306 (CVMIC portion within total)Fox Crossing villageCITIES & VILLAGES MUTUAL INSURANCE COMPANYMay 3, 2026

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Description

The Village of Fox Crossing Board awarded a multi‑year municipal insurance contract to Cities and Villages Mutual Insurance Company, providing $10 million liability coverage with a $10,000 deductible. The agreement allows coverage for up to ten years, subject to annual rate increases not exceeding 10% excluding workers’ compensation and valuation adjustments.

Contract Details

Contract Amount

Estimated annual premiums totaling approximately $316,306 (CVMIC portion within total)

Vendor

CITIES & VILLAGES MUTUAL INSURANCE COMPANY

Agency

Fox Crossing village, WI

Contract Type

INSURANCE

Document Date

May 3, 2026

Contract Term

Up to ten (10) years beginning with a seven‑month bridge policy in 2026 followed by calendar‑year policies, subject to annual rate increases not exceeding 10% (excluding workers’ compensation and valuation/item changes)

Renewal Info

Board authorized purchase of coverage for up to ten years with annual rate increases capped at 10% per year (excluding workers’ compensation and property valuation/equipment changes); CVMIC policies are on a calendar‑year cycle with an initial seven‑month bridge policy for the remainder of 2026.

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