Insurance premiums are going up in 2020. The County of Renfrew Finance and Administration Committee met on Thursday (January 16th) and Treasurer Jeff Foss says we’re in a better place than our neighbouring municipalities. Foss says fortunately the County of Renfrew will only see a 4% increase in 2020, however neighbouring Lanark County will see a 76.6% increase in insurance premiums.
Foss says Renfrew County is looking at a $20,000 increase for insurance costs this year, while other counties could pay upwards of $300,000. Foss says municipal insurance protects the employees, property, and covers all activities.
He adds staff were extremely concerned with insurance rates heading into this year given the current market conditions. Foss believes the lower increase locally can be attributed to how well staff are able to mitigate risks and by staying updated on training efforts.
