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Polk County commissioners approve insurance renewals after property and cyber premium changes
Summary
Polk County Board of Commissioners unanimously approved renewal of general liability, property, automobile and expanded cybersecurity insurance, noting about a $60,000 overall increase driven by property values and added excess cyber coverage.
Polk County commissioners on May 28 unanimously approved renewal of the county's general liability, property, automobile and cybersecurity insurance policies after staff reported an overall premium increase and recommended purchasing all coverages in the memorandum.
County staff told the commissioners the renewal package represents roughly a $60,000 increase from last year, driven mainly by property insurance. "The biggest change is in the property insurance. We have an increase of about almost 50,000 over last year," staff member Mr. Hanson said, citing higher replacement values and recent construction costs for county facilities. Hanson added that other coverages held steady or declined.
The memorandum presented to the board also calls for expanded excess cybersecurity limits. "So we technically have the normal cybersecurity and then, excess cybersecurity of up to 2,000,000 now. We we were rolling with 1," Hanson said. Hanson said the increase in excess cyber coverage added about $2,000 in premium cost.
Commissioners asked whether multiple quotes were obtained for the policies. "Says, Mr. Woods received us 1 quote. Is that typical?" a commissioner asked. Mr. Woods, a county staff member, responded that receiving a single quote is less typical for workers' compensation (not part of this renewal) and that a different vendor structure now handles that coverage: "CIS used to do the workers' comp themselves, then they basically subbed it out to, SAFE, and now SAFE completely runs it." Woods also said some commercial insurers have withdrawn from public sector markets.
After discussion, a commissioner moved to approve staff's recommendation "as proposed" and the motion was seconded. The board voted aye and the motion passed unanimously.
Other routine business during the meeting included unanimous approval of the agenda, approval of minutes from the May 21 meeting and approval of the consent calendar.
At the end of the public portion of the meeting the board announced it would not meet in executive session at this time; the agenda referenced ORS 192.660(2)(d) and (e) as the statutory authority that would apply to any potential labor-negotiation executive session.
