The city of Pearland checked off a housekeeping item ahead of hurricane season.
Pearland City Council at its May 23 meeting approved a resolution greenlighting a $899,010 policy for wind, hail and wind-driven rain damage with AmRisc Carriers that will last from May 26 of this year to May 25, 2023.
According to agenda documents, the $899,010 premium comes with a $75 million-per-occurrence limit and a 3% named storm deductible. The contract is an increase of $144,000 over last year's deal in which the city paid $755,010 premium. It was also with AmRisc Carriers.
Through the help of McGriff Insurance Services, the city conducted a study of global insurance carriers and found the city’s choice provides the best overall value and combination of risk transfer and retention, agenda documents said.
