Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Insurance topic
No spam. Unsubscribe anytime.
CORSA reports 7.3% Athens County renewal increase; county receives $40,186 in credits
Summary
CORSA reported an Athens County insurance renewal increase of about 7.3% driven by exposure increases; the county received $28,256 dividend credit and $11,930 loss-control incentive credit (total $40,186).
Sherry Barbosky, CORSA underwriting manager, and Mallory Swaim with Mathews Insurance briefed the Board on the county's insurance renewal. CORSA reported a 5% overall pool increase for the year and noted Athens County’s renewal was about 7.3%, driven by higher property values (more than $7 million), payroll increases (nearly $5 million) and slightly higher deputies and detainee exposure. CORSA cited improved county loss experience and said a new captive insurance structure helped reduce reinsurance costs.
Barbosky told commissioners the county earned $28,256 in dividend credit and $11,930 in loss‑control incentive credit, for total credits of $40,186 to be applied to the renewal invoice. CORSA described cyber coverage as tied to questionnaire responses (especially multi‑factor authentication) and noted some covered boards will need to submit additional cyber questionnaires. A $50,000 sublimit for law‑enforcement vehicle equipment was added to replace equipment on a replacement‑cost basis in totaled cruisers.
