INSURANCEONGOING

Marsh Insurance Contract Spurs Search For Cheaper Coverage

Marsh Insurance currently provides the Town of Prescott’s property, liability, and automobile insurance under a contract awarded after a 2023 RFP that initially cut premiums by about $68,000. Subsequent premium increases of up to 20% on property and projected 5% for 2026/2027 have prompted staff to recommend switching providers.

Status
ONGOING
Document date
August 10, 2026
Contract type
INSURANCE
Vendor
Marsh Insurance
Agency
Town of Prescott · Canada

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
prior decrease of 19% (approximately $68,000 savings) in 2023; approximately 20% increase on property in 2024; 3%–5% increase on liability and auto in 2024; approximately 4% increase in 2025; anticipated 5% increase over current rates for 2026/2027 if renewed
Contract type
INSURANCE
Contract term
Coverage since 2023 RFP award through 2025/2026 policy term; potential 2026/2027 renewal
Renewal
Original award followed a 2023 property and liability insurance RFP, replacing Intact Public Entities at that time. The policy has been renewed annually with premium increases in 2024 and 2025; staff now recommend against renewing for 2026/2027 due to anticipated additional 5% increases.
Document type
AgendaPacket
Source document
Prescott Town Council AgendaPacket 2026-08-10

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the insurance contract by Town of Prescott?

Marsh Insurance was awarded this insurance contract by Town of Prescott, as recorded on August 10, 2026. The contract value is prior decrease of 19% (approximately $68,000 savings) in 2023; approximately 20% increase on property in 2024; 3%–5% increase on liability and auto in 2024; approximately 4% increase in 2025; anticipated 5% increase over current rates for 2026/2027 if renewed.

How much is the Marsh Insurance contract with Town of Prescott worth?

The Marsh Insurance contract with Town of Prescott is valued at prior decrease of 19% (approximately $68,000 savings) in 2023; approximately 20% increase on property in 2024; 3%–5% increase on liability and auto in 2024; approximately 4% increase in 2025; anticipated 5% increase over current rates for 2026/2027 if renewed, covering insurance work.

What type of contract is this?

This is a Insurance contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Prescott Town Council AgendaPacket 2026-08-10 (AgendaPacket), dated August 10, 2026 from Town of Prescott. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Marsh Insurance hold?

Marsh Insurance may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Marsh Insurance's profile

What is Town of Prescott currently buying?

Explore Town of Prescott's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View Town of Prescott's profile

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