Sand Springs City Council Agenda Packet 2026-06-22
Council Weighs Renewal of Workers’ Compensation Coverage
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Description
Sand Springs is considering renewal of its FY27 workers’ compensation coverage through OMAG with CompSource Mutual Insurance Co. as carrier, for July 1, 2026 through July 1, 2027, at a total premium of $498,976. The plan provides statutory workers’ compensation and employers’ liability coverage for City and Authority employees.
Contract Details
Contract Amount
Total premium $498,976.00 (Net Premium $437,698.00 + OMAG Admin. Fee $61,278.00)
Vendor
COMPSOURCE MUTUAL INSURANCE CO
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 existing OMAG Workers’ Compensation Aggregate Deductible Plan for the 7/1/2026–7/1/2027 policy period, with a 3% total premium decrease ($15,989) from prior year and optional escrow usage.
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