The Marshall County Commissioners received some good news from Brian Kubicki from Gibson Insurance during their meeting this week.
He said, “I get to deliver good news today,” referring to the insurance renewal. The total program cost for your insurance program is reducing by just over $32,000.” The cost in 2017 was $530,800 and for 2018 went down to $498,000.
Kubicki said most of the reduction was driven by the work comp premium, claims management and prevention of losses and injuries to employees. He noted that the county’s Safety Committee meetings have been beneficial to the process.
While the county’s exposure went up a little bit most of the other rates decreased pretty much across the board.
The replacement cost value of some of the county’s buildings increased and the commissioners agreed to have the building reappraised since it has been over 5 years since the last appraisals.
He noted the vacancy of the Shady Rest building is a concern to the current carrier, Travelers Insurance. They’ve asked to have it removed within 6 months of the renewal date which will be January 31st. The comment was made that the county is currently working on finding a use for the building. Kubicki said the building is being insured for actual cash value instead of replacement cost value.
County Attorney Jim Clevenger asked is cyber security was included in the premium. Kubicki said there is some “throw-in” coverage but a separate policy may be something to consider.
The commissioners unanimously approved the renewal agreement.
