BRIEF: KACo rep answers questions [Glasgow Daily Times, Ky.]

July 11--GLASGOW -- The Barren County Fiscal Court took advantage of an opportunity to ask questions of a representative from Kentucky Association of Counties (KACo), the insurance company for all Kentucky counties.

KACo informed the Barren County government earlier this summer that its insurance premiums would go up $32,000 for the 2012-13 fiscal year, due to the county's high loss ratio with all the lawsuits filed against it the last few years. The majority of KACo members do not have more than a 100 percent loss ratio, said KACo representative Rob Brown.

"Typically, what is considered break-even in the insurance industry is 65 percent," Brown told the court.

According to numbers brought up by Magistrate Carl Dickerson, Barren County's highest loss ratio was 972 percent in the 2007-08 fiscal year. The following years were subsequently 871 percent, 206 percent, 224 percent and 110 percent. In the 2006-07 fiscal year, the loss ratio was only 48 percent, which is more typical, Brown said. Such a high loss ratio means the insurance company is paying out more money than its getting paid, Brown explained.

For the full story, read Wednesday's print or e-Edition of the Glasgow Daily Times.

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