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County hears pitch for multi‑entity property insurance pool and appoints interim representative
Summary
A vendor and county staff outlined a proposed 13-entity property insurance pool that could save participants roughly $3 million collectively; supervisors authorized the county attorney to finalize formation documents and conditionally appointed Jimmy Langer as the county’s representative.
A proposed multi‑entity property insurance pool drew a presentation and a conditional appointment from the Hancock County Board on Feb. 18.
Frank Bordeaux of the Property Insurance Pool told the board the pool would broaden coverage, include storm surge in the wind definition and add wind‑driven rain coverage; he estimated collective savings of about $3 million across 13 participating entities and proposed building a $1 million‑a‑year loss fund. Bordeaux told supervisors the pool’s bylaws are still being finalized and that buyable premium quotes were expected by March 20.
County staff asked the board to authorize the county attorney to work with the pool’s legal team to finalize formation documents. The board approved a motion 5–0 authorizing the county attorney to proceed with finalizing formation documents and conditionally appointing Jimmy Langer as the county’s representative to the pool, contingent on final bylaws and approval of the formation documents.
County counsel and staff will continue to negotiate bylaws and confirm approvals from the state insurance commissioner and the attorney general’s office before final enrollment.
