Compelo Insurance is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

Wisconsin Regulators Consider Property Insurance Break For Governments

Hundreds of cities, towns and school districts insure their property with a state fund administered by the insurance commissioner's office

Some of the Regulators in Wisconsin yearn to give local governments a one-year break from paying their property-insurance premiums – reported in Insurance Journal.

Hundreds of cities, towns and school districts insure their property with a state fund administered by the insurance commissioner’s office. A recent review found that the fund had a $40 million worth surplus.

Peter Barca, Kenosha Democratic Assembly-man, said: “That’s enough money to keep the fund solvent for a year. He says its one small step toward helping during a time of financial crisis.”

The insurance commissioner’s office expressed that it comprehends the sentiments but is apprehensive about the fund dipping too low. It also stated that it is concerned about how the plan might affect future premiums.