Local News: Cape Girardeau County Commissioners Hear Insurance Renewal Options (12/22/20)

Sarah Yensel ~ Southeast Missourian

Cape Girardeau County commissioners plan to review the insurance renewal information presented at Monday’s meeting and vote on what to renew at the December 28 meeting.

WE Walker Lakenan Insurance Executive Vice President Doug Mueller presented Commissioners with options to renew insurance for property and equipment and cover commercial crime.

Mueller explained that there is a significant increase in electronic data processing coverage, from $ 948,826 in 2019 to $ 4,833,673 in 2020.

“I’m kind of applauding everyone’s efforts to get that, because that’s a very good coverage,” Mueller said. “Electronic data processing equipment contains some unique coverages needed in the event of a loss, including the additional expense covers included in it.”

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According to Mueller, the total insured values ​​in the county have increased to $ 56,740,841 due to the construction of the new courtroom and the updated electronic data processing equipment.

Commissioners will have the option to renew earthquake coverage offered by Cincinnati insurers, which will cover the entire $ 56 million property value in the event of a devastating earthquake.

“Most insurance companies want to offer only $ 5 million,” Mueller said. “Then we have to go out and get the extra earthquake from other carriers, which is something that we haven’t had to do for several years since Cincinnati had a full earthquake. Their rates went up, but when I went and asked for alternative quotes the insurance companies came back and indicated that they wouldn’t even try Citation because it cannot compete with the Cincinnati earthquake rate. “

Cincinnati also implemented a wind deduction for each building in the County Renewal Option, which would cover the Administration Building, the Old Jackson Courthouse, the Sheriff’s Building and a new court. This implementation is due to changes in industry trends in the Midwest, according to Mueller. However, in his proposal, Mueller provided alternative quotes for the county, including a purchase quote for wind and hail damage.

“The bottom line is, for example, that the new court has $ 50,000 deductible from wind and cold,” Mueller said. “This is the only one that has that level. I have a separate quote from an insurance company that’s going to fetch this deductible from 50,000, through Cincinnati if there’s a wind and hail claim, to $ 5,000 through this insurance company, and they charge a premium for that. I have the same.” The thing happens to the other four buildings as well. “

The commissioners decided to wait before making a decision on the renewal.

“We’re going to take this under supervision,” said Presidential Commissioner Clint Tracy. “We’re going to take a look at it and then on the 28th, if we have any other things specifically that you need to let us know about, we’ll look at it.”

In other business on Mondays, the Commissioners:

* A Ford F350 diesel engine truck is approved for US $ 37,001 and truck bed from Viking-Cives Midwest, Inc. For $ 19,085.

* Approved payment of $ 21,900 to the forensic office for the second, third, and fourth quarter expenses.

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