FORT ANN  A change in policy by the New York Municipal Insurance Reciprocal will result in the town switching to a local agency, according to Town Supervisor Richard Moore.

NYMIR, which focuses on insuring municipalities, charged the town $27,173.55 in 2015, but that did not include downstream liability coverage in case the Hadlock Pond Dam failed again.

To include downstream liability, NYMIR’s renewal offer was for $40,452.96. Cool Insuring Agency of Glens Falls offered the insurance, including downstream liability, for $30,629.24.

The Town Board voted earlier this month to accept the Cool Insuring Agency proposal. Moore, Dennis Fletcher, Floyd Varney and Deb Witherell voted in favor of the decision, and Gretchen Stark voted against it.

Moore said the policy covers buildings and personal property, contractor’s equipment, commercial general liability, law enforcement liability, automobile and umbrella liability. There are numerous coverage limits.

The savings between the NYMIR and the Cool offer is $9,823.72.

“The major difference in premium is NYMIR now charges an additional premium for downstream liability,” Moore said.

The town went without liability insurance for the dam between 2008 and earlier this year because of an unexplained miscommunication between NYMIR and the town. The dam, which was rebuilt after a 2005 collapse, was repaired and the pond refilled in 2008. But if the dam had collapsed again between then and Feb. 18, the town would have been insured for damage to the dam, but not for liability.

Moore said liability coverage — for downstream claims only — went back into effect Feb. 18, so the town is now covered for both damage and liability.

You can read Bill Toscano’s blog at poststar.com/blogs or his updates on Twitter, @billtoscano_ps.

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