November 16, 2016

The OIG found the City made improvements to its property and casualty insurance program since hiring a Risk Manager in June 2014. Specifically, the City:

  • secured an updated Insurance Commissioner Certification for property and flood insurance coverage to make sure that city properties would be eligible for future FEMA assistance;
  • corrected formatting problems and completed missing information on the list of insured properties identified in the original report; and
  • issued requests for proposals to solicit producer of record services that included cost and additional standards for comparing and evaluating proposer qualifications.

However, evaluators found the City did not develop a complete and accurate list of insured properties or obtain appraisals on any insured properties. Successful completion of these tasks could allow the City to achieve additional savings on insurance premiums.
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