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Cole County commissioners approve 2025 insurance renewals as premiums rise
Summary
At a Dec. 12 meeting, Cole County commissioners approved renewal of property, casualty and liability insurance with Travelers, separate cyber coverage with Cowbell, and a wind/hail buyback through Risk Placement Services after staff reported steep premium increases and a high loss ratio.
Cole County commissioners approved renewal of the county's property, casualty and liability insurance for 2025 and authorized separate cyber and wind/hail buyback placements during a Dec. 12, 2024, commission meeting.
County staff presented a recommendation to remain with Travelers for most coverages, to retain Cowbell for cyber insurance, and to purchase a wind/hail deductible buydown through Risk Placement Services. Staff said the county faces a roughly 27% to 30% overall premium increase for 2025 and described a difficult underwriting year driven by claims.
The recommendation reflected staff's review of multiple markets and competitive quotes. Jeff (last name not specified), a staff presenter, said the county is "currently running about a 240% loss ratio," and that pending litigation…
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