Cole County commissioners approve 2025 insurance renewals as premiums rise

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 contributed to the increase. Staff also said Travelers remained more competitive than other carriers for most lines of coverage.

Commissioners were told Travelers required increases to some deductibles. Staff reported the county's auto liability deductible would rise from $5,000 to $25,000 when the county is at fault for bodily injury or third-party property damage. For wind and hail, Travelers applies a 2% deductible (with a stated minimum of $250,000); staff recommended buying that down to a 1% deductible with a $100,000 minimum for qualifying losses. Staff gave an example that the buydown would restore a $100,000 deductible in some scenarios.

Staff reviewed the county's blanket building property value, reported as $99,938,404, and said values rose about 13% from the prior year in part because the new EMS building was added to the schedule. The old county jail currently carries a reported insured value of roughly $330,000 and an estimated premium of about $10,500; staff noted the commission could reduce or remove coverage on specific properties if it chose.

Discussion also covered loss-control measures. Staff and the broker described defensive-driving training, telematics or GPS monitoring, and other programs Travelers can provide to help reduce future losses. A commissioner urged closer involvement from the county's claims office (referred to in the meeting as Jill's office) so the county can pursue settlements or defenses more aggressively because of the higher deductibles.

On formal actions, commissioners approved three motions by voice vote: to continue cyber coverage through Cowbell; to accept the Travelers renewal and premium schedule as presented by staff (broker identified as Assured Partners of Missouri in the meeting); and to adopt the wind/hail buyback placement with Risk Placement Services. Each motion carried after the question "All in favor?" and voice responses of "Aye." The motions, seconds and votes were recorded in the meeting transcript as voice votes without named roll-call tallies.

The broker present told commissioners that Assured Partners of Missouri is in the process of being acquired by AJ Gallagher Company, which the broker said would expand carrier access but should not change local service or personnel in the near term.

The commission recessed at the close of the item and staff said the county would revisit insurance renewals again next year.