St. John’s insurance bill dips $32,148 to $2.76 million

St. John’s city council renewed the city’s insurance program for 2026-27 at a premium of $2,758,343, about $32,148 less than last year’s $2,790,491, the city said.

Council approved the renewal at its regular meeting on Oct. 20, according to the city’s meeting recap. The motion carried unanimously.

The program also covers the St. John’s Regional Fire Department, the St. John’s Transportation Commission and St. John’s Sports & Entertainment Ltd. It includes liability, fleet, property, environmental liability and crime coverage.

The city said the premium fell despite market-wide insurance rate increases, a higher broker service fee and an adjustment to property values. It said the decrease is largely due to lower commercial general liability and excess liability premiums.

Staff did not recommend reducing coverage to cut costs, the city said, because it would provide little savings while increasing the city’s exposure in the event of a significant claim.

The same meeting also dealt with housing. Council approved two rezonings that add 147 homes in split 6-5 votes, and it approved 28 grants under the heritage program, each trimmed by $142.27 to fit the budget. Council also set a Nov. 4 public hearing on the Cowan Heights neighbourhood plan.

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