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County staff: FY26-27 workers'comp premium rises to $492,920, driven by payroll and loss history
Summary
Human resources director Melissa Thomas and insurance representative Josh Nichols told the board the county's IMWCA premium for FY26-27 will be $492,920, up from last year mainly because of payroll increases and recent high loss ratios; the item was informational only.
Woodbury County officials presented an informational update on the county's FY26-27 Iowa Municipalities Workers' Compensation Association premium, which will total $492,920.
Melissa Thomas, the county's human resources director, said the increase of roughly $60,000 over the prior year was "mainly due to a payroll increase." Josh Nichols of the Hoffman Company said the premium rise is tied to payroll increases in high-rated class codes (police and secondary roads) and the county's loss history; he noted several recent years of elevated loss ratios and said the county's safety committee work is improving outcomes.
Nichols said that if the county posts stronger loss ratios in the current year, discounts and experience-rating adjustments could reduce future premiums. Board members asked whether the county had solicited other carriers; staff said they did seek quotes but IMWCA remained the primary viable option because some carriers are reluctant to insure police and fire classes. The item was informational; no vote or formal action was taken.
