Park County hears Mako renewal details as insurance contribution rises about 4.7%

Park County staff met with a Mako Property Casualty Trust representative on May 12 for a review of the annual renewal. The presenter said the county is facing a roughly 4.7% increase in its contribution this year, driven by a 7.9% rise in insured property values and elevated property loss ratios.

The presenter, a Mako representative, said the pool’s board voted to set the average pool increase at 3.5% this year but that Park County’s increase is higher because its insured values rose by about $3,654,123 (buildings, vehicles and equipment) and because the county’s three-year property loss-ratio average is about 99%. "You are looking at a 4.7% rate increase this year," the presenter said.

Why it matters: higher insured replacement values and recent claims history feed into the pool’s rate calculations. Mako explained it calculates contributions using the last three completed policy years; open reserves for the current policy year can still change loss-ratio calculations through June 30.

Details and coverage changes: the presenter told participants that three endorsements—zoning, ethics and floodplain—were previously optional but are now included for all counties at no additional cost, and that those changes are effective July 1. The fidelity and crime line rose from just under $19 per employee last year to $23.86 this year; Mako said that fidelity/crime pricing is on a three-year contract and will remain fixed for that period.

Examples and claims context: Mako reviewed specific claims that affected Park County’s loss ratios, including a mowing claim that closed for a bit over $136,000 and an earlier road grader loss cited by a participant (approximately $128,000). The presenter explained that reserves set for open claims can inflate a year’s loss ratio until claims are closed and final payouts are recorded.

Pool strategy and market comparison: Mako emphasized the pool’s stability goals and compared its terms with private-market options. The presenter noted private carriers often require much higher deductibles (examples cited as $50,000–$250,000), which can mean lower premiums but larger out-of-pocket exposure for counties when claims occur. Mako argued its lower deductibles and risk-management services yield longer-term stability for smaller counties.

Risk-management services and builder’s risk: Mako also described member services—jail/detention reviews, HR and finance guidance, and IT/cyber resources—and confirmed that builder’s risk coverage up to $5,000,000 is included in the policy; amounts above that would be calculated using the stated per-$100 rate.

Next steps: Mako said it will reach out to schedule property inspections and appraisals this summer. Park County did not record a formal in-meeting vote on renewal terms during this session; Mako will follow up with any required paperwork and scheduling.