To: Board of County Commissioners
Through: Ron Carl, County Attorney
Prepared By:
prepared
Jhanadu Garza, Risk Manager, County Attorney’s Office
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presenter
Presenter: Ron Carl, County Attorney, County Attorney’s Office; Writer Mott, Deputy County Attorney, County Attorney’s Office; Jhanadu Garza, Risk Manager, County Attorney’s Office; Carrol Riggs, Vice President, Account Executive with IMA; Sydney Sanchez, Senior Account Manager with IMA
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Subject:
title
1:15 PM *2025 Insurance Renewal Discussion
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Purpose and Request:
recommended action
The purpose of the study session is to update the Board of County Commissioners on the current insurance market for public entities and present the County’s insurance renewal options for 2025 insurance coverage. The County Attorney’s Office and Risk Management will further discuss liability insurance options previously presented to the Board of County Commissioners during the November 19, 2024, study session and request direction on insurance coverage for 2025.
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Background and Discussion: Insurance premiums for the County have increased drastically since 2020. IMA, the County’s insurance broker, sought alternative marketing strategies for coverage and methods to present the County’s narrative and loss history to carriers and potential carriers to reduce the County’s insurance costs in 2025. IMA will discuss the state of insurance market for public entities, and the County’s insurance program, renewal, and options for 2025 insurance coverage. The County Attorney’s Office and Risk Management staff will lead a discussion of the benefits and risks associated with the self-insurance options presented at the November 19, 2024, study session. Staff requests that the Board make a decision on the insurance coverage for 2025 based on the range of criteria presented.
Fiscal Impact: Future fiscal impact will depend on cost of insurance premiums, increasing County’s insurance deductible, or decreasing insurance coverage.
Alternatives: Alternatives will be discussed at the study session.
Alignment with Strategic Plan:
☒Be fiscally sustainable
☒Provide essential and mandated service
☐Be community focused
Staff Recommendation: Staff will provide a recommendation at the study session.
Concurrence: N/A.