Sand Springs City Council Agenda Packet 2026-06-22
OMAG Workers’ Compensation Plan Renewal Sought for FY27
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Description
City staff requested approval of the FY27 OMAG Workers’ Compensation Plan renewal for the City of Sand Springs and the Sand Springs Municipal Authority, effective July 1, 2026 to July 1, 2027, with a total premium of $498,976. The renewal reflects a 3 percent premium decrease from the prior year.
Contract Details
Contract Amount
Total premium $498,976.00 (Net Premium $437,698.00 + OMAG Admin. Fee $61,278.00)
Vendor
OKLAHOMA MUNICIPAL ASSURANCE GROUP OMAG
Agency
City of Sand Springs, OK
Contract Type
INSURANCE
Document Date
June 22, 2026
Contract Term
From 7/1/2026 To 7/1/2027
Renewal Date
2027-07-01
Renewal Info
Renewal of OMAG Workers’ Compensation Aggregate Deductible Plan for 7/1/2026–7/1/2027, including escrow options and unchanged statutory coverage terms.
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