Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Lake County weighs leaving PRISM for Golden State Risk Management Authority to retain primary liability coverage
Summary
After a PRISM presentation on rising liability costs and coverage changes, the Lake County Board of Supervisors directed staff to notify PRISM of withdrawal and to pursue joining the Golden State Risk Management Authority (GSRMA), a move recommended to preserve first-dollar primary liability coverage and eliminate the county's current $10,000 deductible.
PRISM Chief Executive Officer Gina Dean told Lake County supervisors that escalating litigation costs, social inflation and changes in PRISM's program structure mean the county may soon lose the primary first-dollar liability coverage it has purchased through PRISM since 1998.
"Your liability premiums have gone up dramatically year over year, almost 20% for the last several years," Dean said during a detailed presentation on the pool's operations, cost drivers and risk-control services. She described PRISM as a member-directed risk-sharing pool that uses a captive insurance…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
