County sees savings in insurance premiums

By APRIL KELLEY
DAKOTA CITY - Scott Curran with the Abens-Marty-Curran Agency in Humboldt presented the annual insurance update for the county during the Board of Supervisors’ regular meeting on Monday, June 30.

Curran informed the Supervisors that the total premium had actually gone down this year from $279,521 in 2024-25 to $275,857.00 for 2025-26.

“We are down $3,664 over the expiring premium. Workers' compensation has been our hero over the last couple of years and you will see a reduction of over $15,000 in our workers' compensation premium,” Curran said.

“This is a great testament to all of you. Ever since we put a safety committee in place who have been having regular meetings, it has been driving that premium down,” Curran said.

Over the last five years, the workers' compensation premiums have gone from $96,000 and this year is just over $32,000.

This is helping to offset the costs of increases in insurance in other areas. The amount of property covered by insurance has increased with the addition of the multi-departmental building in Dakota City. The total amount of replacement cost for county property is $24,127,918.

Business Auto coverages also increased due to several new vehicle purchases for the Sheriff’s Department and Secondary Roads.

Other areas such as crime, commercial general liability and commercial liability remained at constant coverages.

Curran spoke with IT Director Chris Madsen regarding cyberliability. In the past, the coverage for cyberliability has been capped at $250,000. Curran informed the Supervisors that a $1,000,000 policy is now available.

Madsen stated that any issue regarding a cyber breach would more than likely easily cost over $250,000 in repair and containment fees and that it would be prudent to insure for the higher amount.

“With the environment out there, it can be bumped up to the million-dollar amount for just $2,672.00,” Curran said.

With adding in the extra for cyberliability, it will bring the premium back up to just under what the Supervisors were paying last year.

Supervisor Bob Rasmussen questioned if there is a policy between the $250,000 one and a one million dollar one.

Curran didn’t know the answer but will get back to the Supervisors before they approve the renewal.

Over the last year, the county had only two workers compensation claims, but for minor amounts of less that $1,000 combined.

Read the full story in this week's issue of the Humboldt Independent!