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Lincoln County officials flag instability in public-entity insurance market
Summary
Risk manager Cory Wadsworth told the Lincoln County Board of Commissioners that several commercial insurers have withdrawn from Nevada and that leaving the public-entity POOL could jeopardize the county’s future coverage; county staff are exploring alternatives but recommended caution.
Lincoln County risk manager Cory Wadsworth told the county commissioners on Jan. 5 that the commercial insurance market for public entities in Nevada is “in a state of upheaval,” with six commercial lines withdrawing from the state over the past five months.
Wadsworth said the county’s exposure has increased, particularly for the Sheriff’s Office liability coverage, and that market restrictions make it difficult to find alternative carriers. “Once we leave the POOL, we can’t just go back,” he said, warning that the county could be dropped by other carriers if it leaves the Nevada Public Entity POOL without a reliable replacement.
Recorder/Auditor Amy Elmer told the Board that the HR services provided through POOL/PACT have improved and are helping county operations, but she said PACT’s claims-side service remains problematic and that a single PACT staffer has complicated communications. Wadsworth and Elmer said Travelers offers a public-entity program but with heavy underwriting restrictions in Nevada, making it a risky immediate alternative.
The Board took no formal action. Wadsworth said he would continue to gather renewal information and explore options while acting as the county’s lead communicator with carriers to try to minimize disruption.
Why it matters: local governments face rising costs and shrinking market capacity for liability and property coverage. For Lincoln County, gaps or sudden changes in coverage could affect county services, budgets and the ability to respond to claims. The commissioners heard the officials’ recommendation to proceed cautiously and to continue monitoring renewal options and service performance from POOL/PACT.
