Utah Local Governments Trust reports small net premium decline; Alta to schedule property appraisals

Josh McHale, risk finance consultant for the Utah Local Governments Trust, presented the town's insurance renewal covering workers' compensation, general liability, auto liability and physical damage, and property. McHale said the town's combined premium for the renewal was down roughly 2% compared with the prior year, a result of lower liability and some line decreases offsetting a property‑rate increase tied to the trust's reinsurance costs.

McHale highlighted that the town's experience modification (EMOD) and loss performance are generally strong and that workers' compensation losses were low over the past five years. He explained that the property premium increase reflects a trust‑level rate change to shore up reserves and higher reinsurance costs rather than local performance. He also confirmed that the recently acquired concrete community building will be placed on the town's property schedule and that the trust will perform commercial replacement‑cost appraisals on all town buildings (every five years and when new buildings are added).

Council members asked whether the new building had been included in the renewal invoice; staff indicated the building had been added and that any additional invoice for the building was small (under $2,000 per annum across coverages) and likely already accounted for. McHale offered that the trust provides loss‑prevention site assessments at no cost to members, including an OSHA‑style review that can identify risks and help reduce claims exposure.

Council thanked the trust for the overall result and asked staff to proceed with appraisals and to schedule a loss‑prevention review for the new building.