Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Insurance topic
No spam. Unsubscribe anytime.
County hears CORSA insurance update; premium rise under 5% but cyber risk growing
Summary
Representatives from CORSA and Peoples Insurance told commissioners the county’s liability premium increase this year is a little under 5% and noted a rising cyber threat; Commissioner Schilling said he is optimistic about long-term premium stabilization through CORSA dividends.
John Brownlee of CORSA and representatives from Peoples Insurance briefed the Washington County Board of Commissioners on April 23 about liability insurance trends, premium movement and emerging cyber risks.
Brownlee said inflationary pressure is easing and CORSA is seeing smaller rate increases, though cyber threats are an area of growing concern. He said the county’s premium increase this year is "a little under 5 percent." Brownlee also described CORSA’s long-term approach of creating its own insurer to return dividends and reduce premiums over time. Commissioner Charlie L. Schilling, who serves on the CORSA board, said he was optimistic about the prospects for flat premiums in the future.
The briefing noted Washington County’s participation in CORSA law enforcement and cyber grants; no formal action was required at the meeting.
