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MCIT updates Pine County commissioners on claims trends, reinsurance costs and cyber risk reductions
Summary
A Minnesota Counties Intergovernmental Trust (MCIT) representative told Pine County commissioners that rising property values and reinsurance costs are pressuring member rates, while cyber incidents appear to have trended down following member mitigation steps; MCIT urged continued investment in safety programs and contract review.
A risk management consultant from the Minnesota Counties Intergovernmental Trust briefed Pine County commissioners on MCIT’s financial position, reinsurance pressures and recent trends in cyber and workers’ compensation claims.
Joe Siminski, risk management consultant, summarized MCIT’s position as a joint powers entity that seeks cost‑effective coverage tailored to governmental operations and said the trust has faced rising reinsurance costs driven largely by increasing total insured values and higher construction and replacement costs.…
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