WATERLOO — The county board of supervisors approved a nearly $34,000 increase in what it will pay its insurance company for property and casualty risk as a result of the derecho and other recent weather events.
The Black Hawk County Board of Supervisors unanimously approved the $33,962 increase, a 14% increase over their current payment, for the 2021-2022 year, at its Tuesday meeting.
The county gets coverage from PDCM Insurance through the Iowa Communities Assurance Pool, or ICAP, which provides property and casualty coverage to hundreds of public entities across the state. Black Hawk County was not alone in seeing its rate increase, county finance director James Perry said.
18-24 age group not getting COVID-19 vaccine, county health director says
“A lot of municipalities are seeing an increase in their insurance rates,” Perry said, with the company citing “a lot of the weather and the derecho” in setting the rates.
The increase was only 9%, but a voucher typically received from ICAP would not be forthcoming this year, Perry added, making the increase jump to 14% instead.
“Unfortunately, it’s how it is, and how it’s been kind of throughout the year,” he said.
Black Hawk County starts discussion on what to do with $25.5M in federal funding
The county will pay a total of $445,426.84 for insurance as a result of the increase.
In other county business, the board:
Credit: Source link