Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Insurance topic
No spam. Unsubscribe anytime.
County reviews five‑year insurance loss runs and discusses raising deductibles
Summary
An insurance representative reviewed five‑year loss runs for Crawford County and recommended evaluating higher deductibles on select coverages (inland marine, auto) as a budget strategy; the board asked staff to continue discussions and bring specific deductible proposals back for consideration.
Kurt Miller (insurance presenter) reviewed Crawford County’s five‑year loss history and current premiums, saying the county logged 56 claims over five years with many small or zero‑dollar claim outcomes. He explained reserves and open claims and outlined the county’s current premium as budgeted, noting a recent modest increase in total premium costs.
Kurt told supervisors that raising deductibles on certain lines — for example inland marine and some auto coverages — could increase the county’s ‘skin in the game’ and potentially reduce premium expense. He said inland marine deductibles were very low (example cited $7.50) and suggested considering larger deductibles where sensible, while retaining catastrophic coverage for rare, high‑cost losses.
Supervisors asked for scenario analyses showing how different deductible levels would affect premiums versus out‑of‑pocket risk. One supervisor framed the discussion in budget terms: with roughly $375,000 in annual premiums, changing deductibles could alter both annual spending and retained exposure. The board asked Kurt and staff to return with specific deductible change proposals and estimated premium savings for FY27.
