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Cochise County risk-management staff warn insurance premiums likely to rise after property reappraisal
Summary
Risk management staff told the Board of Supervisors the county's annual insurance premium could rise from about $709,000 to roughly $806,000 after a recent in-person property appraisal and noted continued debate over what the county's pool will cover for legal or prosecutorial claims.
Cochise County risk management staff told the Board of Supervisors in a work session that the county's annual insurance premium is expected to increase from about $709,078 last year to roughly $806,780 next year, largely because the pool performed an in-person appraisal of county property and found higher replacement values than prior estimates.
The board heard the change matters because the county buys liability, property and professional liability coverage through a counties insurance pool; higher property values and recent claims histories drive the premium. Risk management also flagged the county's $350,000 judgment and damages line, which covers settlements, deductibles and other general-fund losses.
Julie Morales, a risk-manage…
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