Cleve­land buys con­ven­tion in­surance

The Daily Herald - - HERALD BUSINESS JOURNAL -

Cleve­land plans to spend $9.5 mil­lion to buy $50 mil­lion in in­surance to cover it against claims for in­ci­dents dur­ing the up­com­ing Repub­li­can Na­tional Con­ven­tion. Cleve­land’s Board of Con­trol on Wed­nes­day ap­proved buy­ing var­i­ous poli­cies through a bro­ker that rec­om­mended the city in­crease its planned cov­er­age. The board in March ap­proved spend­ing $1.5 mil­lion for $10 mil­lion in cov­er­age. City Fi­nance Di­rec­tor Sharon Du­mas said the threat of ter­ror­ism and volatil­ity dur­ing the Repub­li­can pri­mary cam­paign caused bro­ker AON Risk Services to is­sue a higher risk as­sess­ment. She said AON polled 40 in­surance com­pa­nies be­fore rec­om­mend­ing the in­creased cov­er­age.

From Her­ald news services

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.