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County explores adding arts venues to property insurance pool to cut premiums for small organizations
Summary
Risk staff told the Board adding arts venues into the county's insurance pool could lower individual venue premiums from 'hundreds of thousands' to roughly $1,500–$2,000 per year, but county exposure on pool premiums after a loss and the $25,000 deductible are important tradeoffs.
Risk services staff outlined an option to allow local arts venues to apply to be added to the county's property schedule administered through the Prism pool. Britney Inks said each venue would apply through the county broker, be appraised, and—if accepted—be folded into the pool’s annual premium schedule. She estimated that smaller venues…
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