Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Insurance topic
No spam. Unsubscribe anytime.
County switches property/casualty business to Bliss McKnight and Cincinnati; commissioners approve renewal
Summary
The board approved moving the county's property and casualty coverage from Liberty Mutual to Bliss McKnight (with Cincinnati Insurance for part of the package); commissioners discussed a one-time tail fee and budget implications.
Adams County commissioners voted 2-0 to renew the county's property and casualty insurance package with Bliss McKnight (for crime, auto, general liability, law enforcement and public-officials liability) together with Cincinnati Insurance for part of the program.
The county's broker (Bixler Insurance) and staff presented renewal figures showing Bliss McKnight's quoted portion at $350,724 and Cincinnati's portion at $106,140. By contrast, staying with Liberty Mutual would have produced a combined quote of about $547,091. Bliss McKnight offered an option that includes a one-time tail coverage fee of $104,782; commissioners discussed payment timing options (two-thirds now/one-third next year) and budget treatment.
County counsel and staff said the total Bliss McKnight plus Cincinnati package would be $456,864 if the board proceeds with the Bliss McKnight option and the Cincinnati portion. Commissioners noted the county has a $500,000 line budgeted for insuranceary items and that a special appropriation or budget adjustment may be required to absorb timing of the tail coverage payment.
After discussion, the board moved to change insurers and approved signing contracts to proceed with Bliss McKnight and Cincinnati. Commissioners also directed staff to work with counsel on payment timing and any necessary budget adjustments; a motion to approve the change passed 2-0.
