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Insurance renewals push Lockport premiums higher; Horton Group cites claim spike
Summary
Horton Group consultant told council renewal rates are up ~14% year-over-year, driven by increased workers' comp and auto liability claims; staff and council discussed safety practices and market timing for going out to bid.
Tony Evans of Horton Group briefed the Committee on the city's property, liability and workers' compensation renewals and told council that market conditions and increased claims pushed renewal costs higher.
Evans summarized exposures and drivers: insured property values rose, payroll and vehicle counts increased, and law-enforcement-related civil claims and auto liability losses have put pressure on…
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