The County's announcement of settlement in the AtPac Case was quoted by The Union as stating:
"With resulting insurance coverage, the County's total economic exposure is limited to the County's self insured retention of $100k."
Supervisor Scofield was quoted by KNCO as saying :
"there is a possibility that the county's insurance rates will go up, but by how much is not known at this time."
This is an exact reproduction of what is stated in the County's CSAC Excess Insurance Authority summary of the General Liability I Program for the period that the County's Risk Manager considers applicable to the AtPac case, from the Conditions section headed 1. Premium:
The premium designated in the Declarations as "risk premium" is a deposit premium only, and shall be adjusted annually in accordance with the provisions for "risk premium adjustments" as adopted by the board of directors of the Authority.
The County's risk manager Peter Cheney insists that there is no document in existence that provides any information that would assist anyone in ascertaining the approximate impact that the AtPac claim settlement might have on the County's future premiums.
Please remember, this so called insurance policy is in fact a pool consisting of all the entities that are members, controlled, structured and administered, by the members. I was told by Mr. Cheney the he is a proxy voter of the board.
Question: Does any of this information raise any questions to anyone just now becoming aware of this information?
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