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County hears Mako renewal: modest overall rate decrease, coverage additions
Summary
Mako presented the county’s insurance renewal, reporting an overall rate decrease, added defense coverage for zoning/ethics/flood-plain at no extra premium, and summary loss statistics; commissioners asked clarifying questions about vacancy clauses and builder's-risk coverage.
The county received a multi-page renewal presentation from Mako, the county risk pool, detailing premiums, coverage changes and loss ratios.
The presenter (speaker 6) said the county’s pool premium would reflect a 2.74% rate decrease overall and noted line-item adjustments: decreases in building and contents and vehicle coverage partially offset by a liability increase. The presenter cited a net dollar decrease of approximately $257,836 for the county’s property schedule and described inclusion of zoning, ethics and flood-plain defense coverage at no additional cost this year. "You are getting a 2.74 rate decrease this year," the presenter said while walking through the renewal pages. Commissioners asked about vacancy clauses, builder's-risk coverage and how the pool treats large liability claims; the presenter confirmed a $5,000,000 builder's-risk limit is available for county projects and recommended prompt filing practices for abuse-related claims.
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