Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee hears rising insurance costs; workers' comp mod rating improving but premiums still up
Summary
Staff reported an improving workers' compensation modification rate (from 1.7 to 1.48) but said insurance premiums and property/casualty costs have risen; the committee discussed deductibles, replacement‑cost coverage and whether to shop markets or self‑insure higher deductibles.
Finance staff told the committee the town’s workers’ compensation modification (mod) rating has fallen from 1.7 in 2024 to 1.48 for the next renewal, reflecting recent improvements in claims experience. "Our our mod rating actually went down this year...for '25, it went down to 1.48," the manager said.
Staff also walked members through larger…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
