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MCIT presents county insurance outlook; Stevens County praised for low workers'comp score
Summary
MCIT consultant Richard Meehee briefed the board on reinsurance costs, retention changes, cyber claims trends, and Stevens County's favorable workers' compensation modifier of 0.6.
Richard Meehee, a risk management consultant with MCIT (Minnesota Counties Intergovernmental Trust), presented an overview of MCIT's pool structure, recent program changes and loss trends and answered commissioners' questions on insurance costs.
Meehee told the board MCIT has adjusted retention levels to manage rising reinsurance costs and that the changes affected member contributions. He said the trust increased liability and workers' compensation retention levels, a move that MCIT leaders used to…
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