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County hears insurance renewal figures; IAP premium up about $18,000, workers' compensation premium rises modestly
Summary
An insurance representative told supervisors the county's IAP premium rose roughly $18,248 (about 4%) due mainly to higher insured property and fleet values; workers' compensation renewal will increase roughly $2,600 to about $128,000 with an experience modification of 1.04.
An Iowa Communities Insurance Pool representative reviewed property, fleet and liability coverage renewals and recommended the board consider deductible options and expanded cyber coverage.
The representative said the county’s insured property is valued at roughly $77,294,976 and the fleet at about $4,586,371, for nearly $82 million in insured assets. Premiums increased in total by about $18,248 (approximately 4%); much of that change was attributable to higher scheduled property and fleet values rather than rate increases on specific lines. The representative noted the county currently carries a $250,000 cyber liability limit and offered an optional increase up to $1 million, citing growing cyber claims nationally.
On workers' compensation, the Iowa Municipalities Workers' Compensation Association renewal reflects an 8% increase in ratable payroll (about $662,000) and a modest overall premium increase of about $2,600 (around 2%) to about $128,000. The county's experience modification rose to 1.04; the representative said one poor claims year (noted in the transcript as 2023–24) will remain on the rating for a period and could be addressed by continued emphasis on medical‑only claims and safety committee work.
Supervisors approved the renewals and directed staff to provide department‑level breakout information to the clerk for finalization of payroll and premium allocations.
