Madison County commissioners renewed the county’s property and casualty insurance with OneBeacon Insurance Group Aug. 6 by a unanimous vote.
The premium for Madison County will be $194,728 for the next 12 months, up $9,000 over the previous year.
Madison County’s insurance representative Dan Horne noted that Madison County’s purchase of three buildings off Rock Quarry Road, which included a new home for the Fine Finish program for developmentally challenged adults, increased the county’s overall insured property. The Madison County Library also nearly doubled in size this past year and the county added several new vehicles, including some through donations. Horne noted that this year’s premium increase is tied to the county’s increase in insurable property from $19 million to $22 million.
“The premium increase was largely attributable to the growth the county had in assets,” said Horne.
Commissioner John Pethel questioned whether departments must come to the BOC before accepting donated items, such as vehicles, that lead to increased insurance costs.
County attorney Mike Pruett said that constitutionally elected officers have the authority to accept such donations without the board’s approval, but if they have to increase their budget to cover additional costs, such as increased insurance expenses, they need to approach the BOC for permission.