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MCIT briefs Isanti County on rising reinsurance and cyber claims, offers risk‑management services
Summary
A Minnesota Counties Intergovernmental Trust (MCIT) representative told Isanti County commissioners that reinsurance and property‑value increases are driving contribution pressures and that cyber claims have spiked, while membership efforts on training and email filtering have reduced ransomware losses.
A representative of the Minnesota Counties Intergovernmental Trust briefed Isanti County commissioners on July 1 about national trends affecting county insurance and risk management, including higher reinsurance costs, rising property valuations and an uptick in cyber claims.
"We're not an insurance company. We're a joint powers entity in a risk sharing pool," Joe Seminski, risk‑management consultant for MCIT, told the board. Seminski said MCIT's membership model is governed by county officials and seeks to keep public dollars stable while providing risk and…
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