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Insurance broker: ICAP premiums up; broker will research deductible options
Summary
Horak Insurance presented the county's ICAP premium increases, citing higher property values and claims; the broker said raising deductibles might help and will report back to the board.
Paul Horak of Horak Insurance presented the county's annual ICAP premium breakdown by department and told supervisors that premium increases stem from higher property values and increased claims activity. Horak said raising deductibles could help reduce costs and that he would research deductible options and report back to the board.
Chairman Brad Quigley asked whether raising deductibles might reduce the premium burden; Horak replied that it possibly would and committed to follow up. The board did not take a formal action at the meeting; the presentation was informational and placed on record.
The item supplies context for the county's budget planning as the insurance premium line—recorded in the special-claims list—represents a significant near-term expenditure.
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