County's property and liability insurance rates shoot up 15%

The Reno County Commission Tuesday approved continuing insurance coverage of county property and operations with a policy through Fee Insurance Group, despite a more than 15 percent hike in its rates next year.

Ongoing supply chain and labor challenges, as well as a claim for courthouse repairs stemming from a 2019 earthquake, were both blamed in large part for the increase.

Bob Fee, the county’s broker with Fee Insurance, said Travelers Insurance is the underwriter and it was hiking its rates.

Fee Insurance has been the county’s provider for about a decade.

“They looked at a couple of things to base their decision on,” Fee said. “Your three-year loss ratio is 159%, and your five years is at 106%. They look at it as they need to make money on the account, as well as making sure the rates are adequate.”

The county awarded a contract to Pishny Restoration Services in October 2020 for just over $1 million to make repairs to the Courthouse