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
End
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 prope...
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