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County staff recommend continued insurance placements; committee approves 1.29% overall premium increase
Summary
County officials reported a roughly 1.29% year‑over‑year increase in insurance premiums driven by expanded coverage values and select line increases; the committee approved updated placements following broker bids led by Gallagher.
County staff reported on bids for county insurance coverages procured through broker Gallagher and sought committee authorization to accept updated placements.
A county official told the committee overall year‑over‑year premiums rose by approximately 1.29% while county property values and some line exposures increased; the official described the 1.29% increase as “a really good value” given broader inflation in the insurance market and noted some lines (e.g., nursing home medical malpractice) increased while umbrella policies declined.
The committee moved and approved the recommended insurance arrangements. Staff said the cyber liability quote was still pending and expected to be at or below last year’s level; Gallagher continues to pursue the most advantageous pricing.
