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Arapahoe County commissioners approve parameters to bind 2025 insurance program, decline terrorism coverage
Summary
At a county meeting, commissioners authorized parameters for the county's 2025 insurance renewals, accepted broker IMA's recommendation to decline terrorism liability coverage (saving roughly $20,000'$30,000), approved a two-year workers'compensation option with Midwest, and authorized staff to bind final property and other lines with the lowest-priced bindable carriers.
Arapahoe County commissioners on Monday authorized staff to finalize the county's 2025 insurance renewals after receiving recommendations from broker IMA and county legal staff.
The board set parameters allowing County Attorney Ron Karl and broker staff to bind policies later this month if final quotes match the ranges presented. Sydney of IMA told the board the overall market is showing more carrier capacity on the property side and improved pricing, while liability—especially law-enforcement liability—remains tighter. "We're seeing new capacity in the marketplace," Sydney said, "which gives opportunity to dilute rate increases."
Why it matters: commissioners were told the presented program would lower the county's overall cost by about $100,000 annually compared with the current structure and that some changes could cut costs further depending on final carrier quotes. The board's choices affect multi-million-dollar liability layers, workers'compensation retentions and term length, cyber limits,…
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