Jun. 7—OSKALOOSA — The City of Oskaloosa will increase its insurance coverage for fiscal year 2023.
The Oskaloosa City Council approved a resolution adopting a proposal for the new fiscal year for property, liability, automobile equipment and workers compensation insurance at a cost of $275,595.
The proposal was approved during their regular meeting Monday, when Margaret Ratcliff, of Ratcliff & Blake Insurance Professionals, addressed the city council at their meeting and briefed Mayer Krutzfeldt and the city councilors on Ratcliff & Blake's recommendations for the city's coverage.
One of the biggest changes in fiscal year 2023 will be an increase in cyber liability coverage from $250,000 to $1,000,000.
"One of the most valuable items this service provides is immediate access to forensic experts who can take over with the first phone call, providing staff guidance on what to do, what not to do and to assist in the recovery of lost data and systems," Ratcliff told the council.
This latest increase in coverage follows an incremental process over the past two years. Last year the city's cyber liability coverage was increased from $50,000 to $250,000. Costs for this service will increase from $2,201 in 2021 to $12,900.
This year's increase is the next — and final, for the foreseeable future — step in bringing Oskaloosa up to the standard in cyber liability insurance.
"We live in an electronic world," Ratcliff said, "and the exposure warrants a million dollars in coverage."
The entire insurance program including property, liability, automobile equipment and workers compensation was presented by Ratcliff and approved by the council.
"We feel it's a much more robust program," Ratcliff said as she concluded her presentation to the council.
In other news:
— A bid by JKAT Integrity Team LLC. of $11,250 was accepted by the council for a property located at the 900 block of D Avenue W.
— A bid by Justin Munger of $5,000 was accepted by the council for a property located at 209 N Eighth St.
— A resolution accepting completion of division two of the phase three sanitary sewer system improvements project was approved by the council. The final contract amount will be $2,021,247.02.
— A resolution approving additional revisions to Mahaska County Solid Waste Management Commissioner 28E agreement and a follow up to the council's March 27, 2022 resolution, which accepted the changes at that time to the 28E agreement, was accepted by the council.
— The city budget book is now available on the city's website.
Channing Rucks can be reached at crucks@oskyherald.com.