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Vendor details Ohio Plan renewal; council told cyber coverage added
Summary
Highland Administrative Services presented the Ohio Plan Risk Management renewal, reporting a modest overall premium increase tied to exposure adjustments and the addition of expanded cyber/social-engineering coverage; the council later adopted the emergency resolution to renew coverage.
Carrie Novacell, client service executive with Highland Administrative Services, presented the city's Ohio Plan Risk Management renewal and explained the drivers of the change in premium. Novacell told council the city has been a member for decades and said the plan's advantage credit and the city's loss ratio contributed to favorable pricing.
Novacell cited the expiring premium before advantage credit as $101,005.41 and said the Advantage Credit shown on the summary was $13,001.39. She described underwriting exposure adjustments (a community-center replacement-cost increase was noted) and an overall premium increase she characterized as about $3,067. Novacell identified an increase in the cyber premium tied to enhancements to the Ohio Plan's cyber coverage and emphasized a new social-engineering coverage component; she said social-engineering losses can be significant and described that coverage as important for municipalities.
She said the plan's target rate for the year was essentially flat as long as the city maintains good loss history, and she praised the city's loss ratio (she reported a recent four-year loss ratio of 19 percent and a historical figure noted as 72 percent since 1992). Novacell also said the underwriting performed an inflation adjustment on building and contents replacement cost and increased the community center's replacement value (she cited a per-square-foot replacement-cost change during the presentation).
Council asked no substantive questions during the presentation. Novacell closed by urging the council to reach out if questions arise and reminded staff she is local and available for assistance. The council later considered and adopted Emergency Resolution 2026-1 to authorize renewal with Ohio Plan Risk Management Inc.
Quote: "By doing the right things, our rate increase basically for the plan itself this year, the target is flat," Novacell said, summarizing how the Advantage Credit and loss history influence pricing.
The council adopted the resolution to renew liability coverage later in the meeting.
