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Insurance briefing flags rising liability claims; county to keep $50,000 deductible and consider coverage changes for heavy equipment
Summary
Presenters told the board that workers' compensation trends are improving but general liability reserves and open claims have risen sharply, producing a projected 13% mod-factor increase; staff recommended holding a $50,000 liability deductible and asked the board whether to shift some rolling stock to liability-only coverage to lower premiums.
Insurance consultants reviewed the county’s workers’ compensation and property/liability programs and warned that rising general-liability reserves and reopened claims will raise the county’s experience modification and premiums.
“...we're sitting at about 3.943 in reserves,” one presenter said when describing current reserves for open claims, and noted…
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