Mako risk pool presentation: Treasure County sees net 8.7% decrease in property/casualty renewal; officials urged to update vehicle and tool inventories

Hope Barker, the property-casualty trust administrator for the county's pool, presented the county's insurance renewal at the May 20 meeting and described why the county's overall premium fell by approximately 8.7% despite an increase in insured property value.

Barker told the board that the county's liability experience improved and that recent large property losses in the national market are being managed by the pool's actuary and reinsurance arrangements. "We will eat those reinsurance shocks so you will continue to see stable rates tied to your loss-mod factor," Barker said. The presenter recommended the county reduce premiums by ensuring vehicle insured values match current market cash values and by compiling a list of employees' tools stored in county shops so individuals are not undercompensated in a total-loss claim.

Commissioners and staff were asked to review the schedule of vehicles and to update counts of full-time equivalents, which affect workers' compensation and other rate components. The pool representative also described member services available for public-safety risk management, HR and legal guidance, and a forthcoming member cybersecurity offering.

The county's renewal documents show the county's property values increased but liability exposures fell, producing an overall premium decrease. Barker recommended adding small, missing items to the property schedule at modest annual cost rather than risking a large uninsured loss.

The board asked staff to provide updated vehicle values and a brief inventory of intensive-tool users in county shops so the county's schedule can be adjusted before the next renewal.