Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Insurance topic
No spam. Unsubscribe anytime.
Oscoda County approves new workers’ compensation policy, cites roughly $32,000 premium savings
Summary
The Board of Commissioners approved a one-year workers’ compensation policy through Accident Fund for $58,885, with the county’s agent saying the replacement policy is expected to save about $32,000 in premiums and qualify for dividends after roughly 18 months.
Oscoda County commissioners voted unanimously Feb. 25 to approve a workers’ compensation policy through Accident Fund for $58,885, effective Jan. 1, 2025, through Jan. 1, 2026.
Greg Burroughs of Highstreet Insurance told the board the quote reflected the county’s 2023 audit figures, payroll and claims-loss history and was priced “on the high side to ensure accurate coverage.” He said the proposed plan “offers dividends, but that will take 18 months to qualify for the program.” County officials told commissioners the economy of the new policy represents about $32,000 in retained premiums compared with the prior policy.
Chair Charles Varner requested Burroughs attend in person so board members could ask questions directly. The board approved the motion to accept the Accident Fund policy and to amend budgets as needed (motion 2025-066); the roll-call vote was unanimous.
