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Harrison County hears update on multi-jurisdiction property-insurance pool; administrators to finalize terms before May 1
Summary
An insurance broker told the Harrison County Board of Supervisors that a multi-entity property-insurance pool has increased coverage limits and equipment-breakdown protection. Board members asked staff and county counsel to finish policy language and allocation rules before May 1.
Frank Bordeaux, representing Gathering Insurance, updated the Harrison County Board of Supervisors about changes to a multi-jurisdiction property-insurance pool and said those changes would increase the pool's coverage and reduce premium costs.
Bordeaux told the board that "long story short, all of your limits are increasing" and that carriers had agreed to revised policy terms and conditions. He said equipment-breakdown coverage that had previously been at or near zero would now show $100 million in limits and that the pool's total property limit has been raised to $375,000,000. He…
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