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Board approves $720,008 property and liability insurance renewal through MASV
Summary
Nolan Andrews of Home Insurance Agency presented Washington County's property and liability renewal through MASV at about $720,008, a roughly 3% increase from last year, and the board voted to approve the renewal.
County officials heard a report from Nolan Andrews of the Home Insurance Agency in Leland on the county's property, liability and related coverages. Andrews said coverage is offered through MASV (the carrier the county has used for eight years) and recommended renewal.
Andrews reported the county's prior-year premium was just under $700,000 and the renewal premium for the new term is $720,008.75 — roughly a 3% increase. He said carriers declined some exposure because of the county's jail/prison risk and coverage complexity; the county insures about $160 million in property values, roughly $10 million in auto coverage and $5 million in equipment coverage. Andrews noted claims paid during the MASV term totaled about $3.3 million, with a favorable claims year last year at about $130,000 paid.
After the presentation the board moved to approve the insurance renewal and the motion carried by voice vote.
Ending: The board approved the insurance renewal through MASV at the stated premium; staff or the clerk will complete the renewal paperwork and ensure coverage continues uninterrupted.
