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Clay County staff recommends switching property coverage to Chubb; commission gives staff consensus to proceed
Summary
County staff and broker CBIZ presented a property and casualty insurance renewal that offered two options; staff recommended Chubb for property and inland marine, Travelers for casualty lines, and a new cyber provider. Commissioners gave general consensus to proceed and staff will return next week for formal approval.
County staff recommended that the Clay County Commission move the county’s property and inland marine insurance to Chubb while keeping Travelers for casualty lines and changing the county’s cyber coverage to a new carrier, after a presentation from insurance broker CBIZ.
“Right now we are still what's considered a hard market,” CBIZ account executive Nate Beyerly told commissioners, describing a marketplace marked by rising rates, shrinking capacity and carriers shifting more risk onto policyholders. Beyerly said reconstruction costs, local severe-weather activity and…
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