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Workers'comp premium rises after payroll reporting correction; county approves renewal
Summary
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.
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.
"That premium is going from 221,000 to 275,000. That's a 25% increase," the broker said, explaining that prior quotes used payroll numbers that omitted one or two months. The broker noted Texas Association of Counties provided a higher quote ($316,000) and Texas Mutual declined to quote (preliminary rating above $800,000); another carrier had declined because of PFAS exposure concerns affecting fire department coverage.
Staff said the accruals for workers' comp had been kept current despite the reporting error, and the fund was not underfunded. Commissioners voted to renew workers' compensation with Deep East Texas as presented, 5-0. The court asked staff and the auditor to continue oversight of payroll reporting to avoid surprise renewals.
