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Jefferson County hears ICAP renewal as property values drive significant premium increase
Summary
An ICAP representative told the Jefferson County Board that new third‑party asset valuations raised the county's insured property values and will increase the 2026 ICAP premium; the board discussed options including stated values, higher deductibles and raising excess liability to $15M before the Jan. 1 deadline.
An ICAP representative presented the county's insurance renewal and warned that HCA property valuations have driven a substantial year‑over‑year property premium increase.
The presenter said the county’s blanket insurance limit rose and the total insured value moved from about $45 million to about $60.8 million, and cited an example in which the courthouse's replacement cost was listed at roughly $18.69 million. He said those higher valuations — not a material rate increase — account for most of the higher premium. ICAP’s renewal is slated to take effect Feb. 1, 2026, and the presenter asked the board to commit to continued membership so invoices and payments can be handled within the typical January window.
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