All right, I'll call the finance and taxation committee to order.

A roll call, please.

Older True Hart.

Older Tolman here.

Older Schaefer.

Here.

And older McGuire.

Here.

Okay, we do have quorum correction of minutes from July 27th meeting.

Looks like none.

They'll stand as presented.

Item C business and open.

We have discussion and possible action regarding civic auto insurance premium renewal options.

This is Administrator Rindi and bringing forward the renewal for your consideration as they've kind of shifted some of their process in the renewals and factoring and determining out those rates and proposing options for a change in our deductibles as that can impact the premiums.

So wanted to at least get committees input on the decision for that.

So the they've started to kind of evaluate performance over the last three years with number of claims and the lot year loss ratios to base what the kind of renewal premiums will be.

And obviously the numbers that are presented are based as if like there was nothing else that changed to our fleet.

We just kind of submitted updates, and so what this these numbers aren't final or exact, but could paint a picture of what the impacts can be.

We have a pretty outstanding and knock on wood um read low number of claims and year loss ratio over the last three years, which is really helping the premiums that they are presenting to us.

I think it's a little different than what a lot of other municipalities are seeing this year.

So we currently have a $2,500 deductible.

They are presenting if we would increase our deductible for all vehicles to $5,000.

If we maintain the same $2,500, we'd see an increase to $54,000.

So it'll be just just under a $4,000 increase.

So wanted to see your thoughts.

I did get some history from Director Jacobson that in years past, at one point, I believe maybe when Ron Marsh was mayor, we did increase to the $5,000 deductible.

They've said at so at one point it started to run into hitting our operational budget when there are some smaller claims or vehicles, which typically are most commonly are with either the police department or public works.

Um that there were more claims that way, and so maybe back around the 2020 era they went back to the 2500 deductible.

Um I did have another alder share suggestion of with the lot race lot race loss ratio that we do have of and to keeping at that same deductible, but trying to push them hard to give us um a decrease in our premium.

Um so I guess if you oh open to questions or thoughts that you have on the matter from what you're showing the last three years, we've had five claims.

I mean, we had four and twenty-three.

I don't know if it'd be nice maybe to see even more.

I mean, is that typical?

I mean, I don't know if twenty-three was just a bad year, or we've just had some good years in 24 and 25.

Because I I I've increased my deductibles because typically, yeah.

I mean, we hope we don't have very many claims, but you can save a lot of money that way.

But right.

I I could confirm, but I'm pretty certain that 24 and 25 are categorized more into like good, a little more good, unusual years.

Um, I feel like we if I look back in 22, I know there are a couple public works incidents and um that made that maybe a little higher at that point.

So we've trended in the better direction the last couple of years than we did maybe initially the rest of you guys.

The rest of you guys, I don't know.

You got your your recommending we go to the higher deductible or not really um I was maybe I'm um I'm not overly, I guess, concerned one way or the other, and also partly why.

In some ways the increase of staying at the the same amount is pretty manageable.

Um I guess it so I feel like it could be okay to stay there rather than having the other impacts if we do.

Um obviously there's that risk factor of where we're comfortable.

Um if we I guess continue to have better years and or aren't finding the need, we could always evaluate at a later time, but I'm also okay considering doing it now at this point, especially when we are trying to save money and or be tight with budgets and things of that nature as well.

Because that looks to me like you'd have to have at least three or more incidents where you would use up your whole deductible, then we would not be ahead, but right if I'm reading this right.

And I'm assuming a lot of times it's not necessarily like if a police car or um public works vehicle gets hit if it's another party they're responsible anyhow for the deductible right.

If they have insurance, yeah.

Or if you don't feel strongly one way or other, I guess you can also direct me to go with either round and continue maybe negotiating with SIMIC if they'll stay at the same and consider a reduction or or something as well, or or maintaining the Yeah, I guess I don't likewise I don't feel strongly in either direction, but um I mean the the uh splitting the fleet and the squad is an interesting interesting wrinkle to get a little bit of savings.

But also if you feel like you might have a little bit of negotiating ability continuing negotiating ability, I guess I would encourage you to do that too.

I mean I'm I'm okay with it, but I don't know what everybody else thinks.

Motion um yeah, preferably I guess a motion to either direct me to continue one way or the other or a specific direction that you'd like to go.

Oh yeah, okay, then I'll make a motion to uh go with the 2027 premium estimate with the option two got a motion.

Do we have a second on that?

Whole second.

Okay, a motion and a second.

Is there any other discussion?

I guess if we had a crystal ball, then we would know.

But I know that's the hard thing of it.