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County hears plan for multijurisdiction property insurance pool; board appoints interim representative
Summary
A representative for a proposed 13-entity property insurance pool briefed Hancock County supervisors on coverage changes and projected savings; the board authorized an appointment (Jimmy Langer) as the county's representative contingent on final formation documents and attorney review.
Frank Bordeaux, identified in the meeting as representing a property insurance pool effort, told the Hancock County Board of Supervisors the pool proposal would broaden coverage and could reduce costs across 13 participating entities.
Bordeaux said carriers agreed to include storm surge in the definition of wind and that the pool would add wind-driven rain coverage, cover outdoor equipment, and avoid previously used onerous roof exclusions. He said the pooled structure includes a $1 million-a-year loss fund to buy down deductibles and that the pool's organizers expect collective savings of about $3 million across the 13 entities. Bordeaux told the board buyable quotes were expected by March 20 and asked the board to appoint a county representative to the association committee.
County attorney and staff discussed finalizing bylaws and engaging the insurance commissioner and the attorney general's office. The board discussed which elected official or staff person might serve and noted availability and meeting schedules would affect the choice. The board moved to authorize the county attorney to work with the proposed pool formation documents and appointed Jimmy Langer as the county's representative to the pool contingent on finalization and county attorney review of the documents; the motion carried 5-0 as recorded.
The board requested that final bylaws and agreement documents be returned for final approval once counsel completes its review.
Why it matters: the pool would change the county's property coverage structure, could reduce premiums and out-of-pocket deductible costs through a shared loss fund, and would create an ongoing governance role for the county representative.
What remains: official bylaws, buyable quotes expected by March 20 and approvals by state insurance and attorney general offices were described as next steps; the board's appointment is contingent on acceptance of the final formation documents by county counsel and by the pool organizers.
