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County insurer reports asset walkthroughs, valuation updates; some departments behind on submissions
Summary
Insurance Northwest updated the board on quarterly work including building walkthroughs, a pending redlined renewal policy and valuation adjustments that may reduce future premiums; staff-level data delays at the Sheriff's Office and other departments could affect next year's renewal.
John Getty of Insurance Northwest presented the company's quarterly insurance report to the Kootenai County Board of Commissioners on Aug. 26, describing progress on building walkthroughs and property valuations and identifying remaining items that could affect premiums.
Getty said he has submitted the renewal documents to the county and is awaiting a redlined renewal policy, expected in September, to complete the review. He told commissioners that Jeff Smith will handle day‑to‑day processing in September and that both agents will manage county business beginning Oct. 1.
Getty described recent valuation work: after reviewing a solid‑waste schedule, he said he removed roughly $2,000,000 of reported value from the county assets list based on actual cash values, which will not materially lower this year’s premium but may affect next year’s renewal. He urged departments to provide timely, accurate inventories so valuations and premiums can reflect actual exposures.
Getty also said several building walkthroughs remain undone and the Sheriff's Office has not submitted change‑of‑valuation information; he noted ongoing discussions about contents valuations for certain county facilities. Commissioners urged staff to escalate missing submissions so the insurer can incorporate corrected values before renewal.
Getty offered to assist by reviewing contracts for insurance clauses, including course‑of‑construction or builder’s‑risk provisions, and said the agents provide additional value by observing construction activity in the field. No formal action was taken; the item was presented for discussion and information.
