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Berwyn insurance broker recommends renewal after negotiating health increase to 22%
Summary
Berwyn’s insurance broker told the council that rising national health-care costs and a small number of long-running high-value claims pushed initial renewal quotes above 25%; after negotiations the broker said he cut the renewal to 22% and recommended renewing all existing lines of coverage.
Philip Toca, who identified himself as a representative of Berwyn Insurance and Financial Services, told the Committee of the Whole that rising national health-care costs and a handful of long-running, large claims have driven this year’s renewal quotes higher.
"Blue Cross came in with 25.8% to start," Toca said, adding that he negotiated the renewal down by 3.8 percentage points to 22%. He told the council that other large employers are seeing increases in the 12%–16% range but that groups of this size often face 25% or greater renewals.
Toca attributed part of the…
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