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Board approves FY27 workers' compensation renewal; premiums estimated to fall
Summary
Des Moines County accepted a workers' compensation renewal that projects a decrease in estimated premiums for the next fiscal year and reported $37,955 in dividends returned this year, with an improved experience modifier driving roughly $16,344 in estimated savings.
Des Moines County supervisors voted June 2 to accept a FY27 workers' compensation renewal after a presentation from Hub International.
Adam Kernman of Hub International told the board the county received $37,955 back in dividends this year and estimated current-year premiums at $152,051 and next fiscal year premiums at $135,707. Kernman said the county's experience modification — a measure of claims performance — improved from 0.91 to 0.86, producing an estimated savings of $16,344 compared with last year.
County safety staff were credited for strong performance that reduced the county's claims experience; the renewal structure and dividend option were unchanged from prior years, Kernman said. A board member noted the county budgeted $150,000 for the program and moved to approve the renewal; the motion was seconded and approved by roll call.
The renewal covers the county's July 1–June 30 policy year; the board was told the final premium will be trued up after payroll audits and the annual experience calculation.
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