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Van Buren supervisors authorize chairman to renew Heartland insurance coverage after rate study
Summary
Heartland representatives told the board pool rates changed after a 2023 actuarial study; the board authorized the chairman to sign the annual Heartland insurance renewal and heard about safety‑committee requirements and a variable dividend plan tied to loss ratios.
Judy Hamaker, the new Heartland administrator, and Mary Griffin of broker Holmes Murphy briefed supervisors on the county’s insurance renewal and recent actuarial work.
Staff explained that premiums for the 07/01/2024–06/30/2025 policy year reflect updated exposures: modest property and inland marine changes, a drop in workers' compensation experience mod that reduced that premium line substantially, and a roughly 5% net premium decrease overall. The Heartland board had approved an actuary-led rate study in 2023; the county’s premiums were adjusted based on that study and exposure changes. Hampshire noted law enforcement liability numbers and workforce counts affected specific lines.
Heartland also told the board it is implementing safety incentives: counties that convene safety committees and meet reporting criteria can earn a 10% workers' compensation safety discount, and the pool added a variable dividend plan that returns premium to members if a low loss ratio is achieved. The board discussed adding equipment‑breakdown coverage (boiler/server protection) and was given cost estimates (example: roughly $1,500 for a $15 million property base for equipment breakdown coverage).
Supervisors moved, seconded and authorized the chairman to sign the Heartland renewal and related documents electronically. The motion carried.
