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Trust urges Utah County to hire full-time risk manager after high loss-ratio review
Summary
Utah Local Governments Trust presented loss-ratio and EMOD data showing elevated costs for Utah County and recommended creating a full-time county risk-manager position (estimated $200,000/year) and implementing chargebacks, incentives and oversight in the attorney's office to reduce claims and premiums.
The Utah Local Governments Trust told the County Commission that Utah County’s insurance performance is poor relative to peer governments and recommended a full-time county risk manager to reduce claims and long-term costs. "Your current loss ratio is 313% with an E mod of 1.35," Ryan Hatch, the Trust’s risk finance manager, told commissioners, citing data that translated into roughly $2.1 million in premium paid and $5.3 million in paid losses for the county on liability lines.
Trust presenters compared the county to St. George, Logan and…
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