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Commission approves wind-and-hail coinsurance for jail and maintenance building at roughly $8,991 annually
Summary
Commissioners approved county coinsurance to cover the deductible gap for wind and hail damage on two county buildings; staff described the cost as expensive relative to the insured band but urged prudence given recent storm activity.
St. Francois County commissioners approved coinsurance to cover wind-and-hail deductible exposure for two county buildings, including the jail and a maintenance building, at an annual cost the county recorded in the meeting as about $8,991.30.
County staff explained insurers raised deductibles on the two buildings from $100,000 to $250,000; staff sought reinsurance to cover the gap between the new $250,000 deductible for the pair of buildings and the county's self-insured layer. Staff reported a quote of approximately $8,900 to cover that intermediate layer.
In discussion, a commissioner said the premium seemed high for the coverage band but noted the county has a fiduciary responsibility to protect public assets and that a $250,000 hit to either building would be substantial. Another commissioner observed the county is experiencing a very active tornado season and that recent weather increases the risk of significant storm damage.
A motion to approve the coinsurance for wind and hail damage was made and approved by voice vote; the transcript records the amount discussed and the motion but does not list a roll-call tally.
