County insurance premiums increased by 18.4%!

liveinsuranceinfo.com confirmed the news, saying County insurance premiums increased by 18.4%!. Wayne County will now have to pay approximately $130,000 more in insurance premiums over the next 12 months than in the last 12 months. The county’s insurance runs from July 1 through June 30, and county commissioners reviewed a presentation by Andy Brown of Gregory & Appel Insurance of Indianapolis during their June 26 meeting. Commissioners unanimously agreed to use Travelers Insurance with the condition that they would stay with the Indiana Public Employers’ Plan for worker’s compensation insurance. Travelers replaced Liberty Mutual, which stopped insuring the counties.

County insurance premiums increased by 18.4%!

The plan accepted by the commissioners has a premium value of $833,403.61. It is approximately $129,692.43 (18.4%) more than the premiums paid in the 12 months ended June 30.

Brown praised the Wayne County Sheriff’s Office for its enforcement and jail accreditations and credited it with leading to two carriers competing for the county’s general liability coverage. Travelers reduced its cost to get the business by about $35,000. Law enforcement and jail liability lead companies to opt out of county insurance and encourage them to do so.

Currently, during the South G Street project, additional concrete repairs have been explored outside of the bid price. The commissioners have agreed to repair only the arches and then the piers instead of fixing the entire bridge. The work would add about $222,000 to the cost of the bridge, which is already over $3.7 million. Richmond Community Schools has requested fencing around the bridge to reduce suicide attempts and as a safety feature. The additional fencing would nearly double the cost.

Also Read: The Washington Insurance Commissioner fines Unite Health $500,000!