Central Wyoming College faces $15,200 hike in property, liability insuranceOct 13, 2012 By Katie Roenigk, Staff Writer
Property and liability insurance coverage for Central Wyoming College employees will cost 8 percent, or about $15,200, more this year according to a report last month by Ron Granger, CWC's vice president for administrative services.
Last year the total annual insurance premium was $196,389.
Granger said he would speak with representatives from one more insurance company before finalizing his recommendation, but regardless of the outcome of that conversation he said the college should be able to cover the increase.
"We kind of foresaw this when we did the budget," he said during the Sept. 19 board of trustees meeting at CWC. "This amount is in our budget, so we won't have to make adjustments for that."
Trustee Scott Phister asked about the process Granger uses to select the best coverage for CWC through the group Hub International. Granger said Hub employees research six or seven companies on behalf of CWC, and an insurance company is chosen within a couple of months.
Next year, Granger said, the decision may take longer so that members of the public have time to offer input.
"We're looking at ... opening it up completely," he said. "I've gone through this in other places where it's not just a one- or two-month process, it's six or seven months to go through that process."
Granger said Hub International again recommended providing workers compensation for CWC employees in nonhazardous positions, but he advised the board to disregard that suggestion.
"It's about $60,000 for nonhazardous employees," Granger said. "And what we pay now for anybody injured in that category hasn't come close to that amount. ... I don't see where it would be a benefit to us to do that."
The board voted to approve Granger's continued work with Hub International to find coverage with the best possible insurance companies.