INSURANCERECOMMENDED

City of Mount Clemens Agenda Packet 2026-05-18

City Plans Stop-Loss Insurance Renewal with Sun-Life

Stop-loss premiums expected to increase 9.5%, or approximately $42,200, for July 1, 2026 – June 30, 2027; advanced July 1, 2027 renewal includes 9.0% increase, or $43,800, over 2026 renewalCity of Mount ClemensSUN-LIFEMay 18, 2026

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Description

Mount Clemens administration recommends renewing the City's stop-loss insurance coverage with Sun-Life for July 1, 2026 through June 30, 2027, with premiums projected to rise about $42,200, or 9.5%. The City is also offered an advanced July 1, 2027 renewal with a 9.0% premium increase and a higher individual deductible of $85,000.

Contract Details

Contract Amount

Stop-loss premiums expected to increase 9.5%, or approximately $42,200, for July 1, 2026 – June 30, 2027; advanced July 1, 2027 renewal includes 9.0% increase, or $43,800, over 2026 renewal

Vendor

SUN-LIFE

Agency

City of Mount Clemens, MI

Contract Type

INSURANCE

Document Date

May 18, 2026

Contract Term

July 1, 2026 – June 30, 2027, with advanced renewal commitment effective July 1, 2027

Renewal Date

2027-06-30

Renewal Info

Fourth renewal since joining the Pareto Health Legend Re captive in 2022. Proposed action would renew coverage for July 1, 2026–June 30, 2027 and lock in an advanced renewal for July 1, 2027 with a higher specific deductible.

Issuing Agency