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Christian County approves liability insurance renewal after review showing higher-than-desirable loss ratio
Summary
County commissioners approved renewal of multiple insurance policies, including liability coverage, after an insurance representative reported the county's property/liability loss ratio at about 83% and carriers proposing roughly an 11.5% premium increase.
Commissioners on the Christian County Commission approved renewal of the county's liability and other insurance coverages after hearing a routine annual review from the county's insurance representative.
The presenter identified in the meeting as Amber told commissioners that a healthy loss ratio is about "35% or lower" and that the county's property and liability loss ratio currently sits at "about 83%," driven in part by recent hail and vehicle claims. Amber said HCC reduced one property deductible from $50,000 to $25,000 and that carriers had requested an increase of roughly 11.5% for the coming renewal cycle.
"A good ratio is about 35% or or lower. And so, right now ... we're sitting at about 83%," Amber said during her presentation.
Amber told the commission that most deductibles would remain the same and praised the county's policies and procedures as "very tight and maintained and updated," recommending approval of the renewal. Commissioners moved, seconded and approved the liability insurance renewal.
The commission did not record a roll-call vote in the transcript; the clerk called for "All in favor say I," and the motion passed. The insurance review and vote were presented as routine, with commissioners asking no substantive follow-up questions during the public portion of the meeting.
Next procedural steps noted in the meeting: signatures were gathered immediately after the vote to finalize the paperwork.
