Workers'comp premium rises after payroll reporting correction; county approves renewal
Broker told commissioners that Potter County's workers' compensation premium rose from $221,000 to $275,000 after an annual payroll figure was corrected to $39,989,000; the court approved renewal with Deep East Texas despite a 25% premium increase.
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County insurance staff briefed the court on workers' compensation renewal and a payroll reporting issue that materially affected the renewal price. The broker said proposed premium was rising from $221,000 to $275,000 — a 25% increase — because the county's annual payroll was corrected to $39,989,000 after months of underreporting.
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