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MCIT warns of volatile reinsurance costs, rising cyber claims and emerging PTSD liability during county briefing
Summary
Minnesota Counties Intergovernmental Trust told Wright County commissioners that property reinsurance and cyber claims have become more volatile, and the pool is monitoring potential increases in PTSD-related law enforcement claims following recent statutory changes.
Garrett Claybaugh, executive director of the Minnesota Counties Intergovernmental Trust (MCIT), briefed Wright County commissioners on Tuesday about insurance trends affecting county governments, including rising property reinsurance premiums, variable cyber losses and early signals of PTSD-related liability in law enforcement. Claybaugh explained that MCIT is a joint powers public risk pool covering 81 counties and about 400 other local entities. He said the pool is not-for-profit, governed by a nine-member board of county peers and…
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