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Woodbury County told workers' comp premium will rise to $492,920; insurers cite payroll and loss history
Summary
Human resources director Melissa Thomas and insurance representative Josh Nichols told the board the county's FY26'7 IMWCA premium will be $492,920, up about $62,000 from the prior year, driven mostly by payroll increases in high-rate classes and recent loss-ratio history.
Woodbury County officials were briefed on a $492,920 FY26'7 workers' compensation premium the county will pay to the Iowa Municipal Workers' Compensation Association (IMWCA).
Melissa Thomas, the county's human resources director, introduced the renewal and said the county solicited market options before the renewal. Josh Nichols of the Hoffman Company said the increase is primarily driven by payroll growth in higher-rated job classes, notably law enforcement and secondary roads employees, and by recent variations in the county's loss history. "Some of it is due to payroll of course," Nichols said, and he added the county's loss ratios in recent years (including years at 107% and a year at 168%) have pushed the experience factor upward.
Nichols told the board the premium for FY26'7 is $492,920 and that the county's prior-year premium was $432,920, an increase of roughly $60,000'$63,000. He said county safety efforts and improved loss ratios could reduce future premiums: "If we end up this year around that 75% range, we're looking to see this thing significantly tick down."
Thomas said the county sought quotes from multiple carriers and that some insurers decline to quote on classes with police and firefighter exposures. Board members asked whether opioid or other restricted funds could be used for specific programs; the HR presentation was informational and no board action was taken on the premium itself at the meeting.
The board was told the IMWCA policy renews July 1; staff said they will continue to pursue loss-reduction measures and long-term premium discounts tied to experience and safety programs.
