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Commissioners select 10‑month insurance renewal with adjusted deductibles to manage storm risk
Summary
After reviewing loss-limit and deductible options, the court approved a 10-month renewal at a $30 million loss limit with reduced named-storm deductibles (option 2a) to manage near-term wind/hail risk while pursuing a longer-term renewal strategy.
An insurance consultant presented three primary options for the county's property insurance program, including raising the loss limit from $30 million to $40 million (additional premium) or reducing wind/hail deductibles for named storms and other wind events. The consultant explained that reducing deductibles and keeping a $30 million limit on a 10-month renewal would provide near-term financial protection while allowing more time to seek better rates later.
Commissioner Lopez moved to approve option 2a— a 10-month renewal at a $30 million loss limit with deductible reductions—citing the savings in potential out-of-pocket exposure in a major named storm. "If we have a named storm, just on the deductible itself, we will save over $5,000,000," a commissioner said in explaining the decision. The motion passed on a voice vote.
Why it matters: The court prioritized lowering the county's immediate exposure to wind/hail losses even though other options offered premium savings, choosing a conservative near-term posture to protect county assets pending a longer-term procurement strategy.
