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Gainesville council approves insurance contract

POSTED: June 26, 2014 11:32 a.m.

The Gainesville City Council unanimously approved a $551,000 contract with OneBeacon Government Risks for property and liability insurance coverage at a special called meeting Thursday morning.

The insurance coverage includes the operation of the Gainesville Connection public transit service.

BB&T Insurance Services canvassed for bids on behalf of the city and recommended OneBeacon.

Two other companies submitted bids.

Trident Insurance quoted a price for coverage at $603,000 while Travelers Public Sector offered coverage for $811,000.

The contract is good for one year, ending on July 1, 2015.

OneBeacon has guaranteed that it will not raise rates more than 3 percent annually over three years if the city agrees to renew the contract.

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