Broken Arrow City Council
Meeting of: June 1, 2026
Title:
title
Approval of and authorization to execute the purchase of Oklahoma Municipal Assurance Group (OMAG) Insurance Policies for Bass Pro property, General Municipal Properties including Battle Creek Property, and Auto/Mobile Equipment effective July 1, 2026
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Background:
Oklahoma Municipal Assurance Group (OMAG) currently provides property loss coverage to all major structures, facilities, buildings, mobile equipment, Battle Creek, and the City-owned building occupied by Bass Pro Shops.
The total property value associated with the coverage at Bass Pro Shops is $33,521,536. The policy premium for Bass Pro Shops, through OMAG beginning July 1, 2026, is $68,092, an increase of $6,609 from last fiscal year.
The renewal of the general municipal property policy through OMAG provides coverage for buildings and personal property (including Battle Creek) in the amount of $307,862,987. The policy premium for the general municipal property, beginning July 1, 2026, is $492,244, an increase of 12.23% from last fiscal year.
Renewal of the blanket mobile equipment policy is valued at $2,227,779 with a premium of $7,891 beginning July 1, 2026. The mobile equipment policy renewal decreased 34.31% from last fiscal year.
Staff recommends approval of these three policies with OMAG for the period of July 1, 2026, through June 30, 2027. The policy premiums total $568,227. OMAG is a quasi-municipal entity that was established by State statute in 1979 to provide insurance coverage and other products to Oklahoma municipalities.
Cost: $568,227
Funding Source: General Government 110-1700 and BAMA 220-1700
Requested By: Kelly Cox, Human Resources Director
Approved By: City Manager’s Office
Attachments: OMAG Cost Breakdown 2027
Recommendation:
recommend
Approve and execute the purchase of Oklahoma Municipal Assurance Group (OMAG) Insurance Policies for the Bass Pro property, Battle Creek property, mobile equipment, and general municipal property, effective July 1, 2026
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