Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Government Finance topic
No spam. Unsubscribe anytime.
Board told insurers are limiting coverage for authorities; ACCG quote would cost about $6,500/year
Summary
County Clerk Jennifer Mahan told the Union County Development Authority on May 11 that many local underwriters have stopped offering insurance for authorities and the Association County Commissioners of Georgia (ACCG) could provide coverage for about $6,500 annually.
County Clerk Jennifer Mahan told the board that six local insurance companies were asked to provide quotes for board insurance; one issued a formal denial. Mahan said underwriters have broadly stopped offering coverage for authorities because of increased liability exposure.
Mahan said the Association County Commissioners of Georgia (ACCG) is able to offer insurance to the authority but at a cost of approximately $6,500 per year. There was brief public discussion about cheaper event insurance options; Sylvia Munson offered to share the Republican Party’s event insurance information with county staff for comparison.
The minutes do not include a final selection of a carrier or any board vote to purchase a policy; staff identified the ACCG option and at least one county vendor denial as items for further consideration.
