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Markle sees increase in insurance premiums

The town of Markle's insurance cost is on the rise, increasing by about $3,500 in both property and workers' compensation premiums.

The town council members learned of the hike at their regular meeting Wednesday, April 14. Richard Randol of General Insurance, in Bluffton, provided the update, saying part of the why the insurance companies raised rates is what he termed "experienced rated."

"Meaning, if you've had issues or losses during the prior year they take that into consideration," he said. "Also, the property portions were increased up about $160,000 or 2.4 percent increase in values because of cost of living."

Randol added that changing the policy's deductible from $1,000 to $2,500 would save the town only $295, which he said would not be beneficial.

Selective Insurance carries the town's property insurance policy, while Indiana Public Employer's Plan, a nonprofit, self-funded workers' compensation program for Indiana public entity employers, carries the workers' compensation policy. Together, the town's new annual insurance premium totals $27,503.

By comparison, Randol said, the neighboring town of Ossian just renewed its insurance at a premium cost of $48,000.
Randol explained that Markle is 14 percent below peer towns in what it pays in workers' compensation, which qualifies the town for a 20 percent discount, or $2,950.

"All the insurance that we take care of during the course of years and years is too much until we need it," he told the council, "but workmen's compensation takes care of job-related injuries, and we have had claims as high as $3 million in that particular area."

Randol also advised the council to obtain a certificate of insurance from the contractor when it hires a company to demolish the town council building to make way for the new library building construction. The certificate would list the town as an additional insured to protect it from mishaps that may occur during demolition.

The new policy will take effect May 14. The council approved the premium by a 2-0 vote. Councilman Mark Hamilton was absent.

In other business:

• The council approved tax abatement compliance statements from Novae Corporation, Mark E. and Rebecca D. Hauenstein, and K-K Tool and Design.

• Town Clerk-Treasurer Shelley Monticue asked for a special meeting to discuss the relocation of the town offices and police department once the town receives a demolition timeline from the Huntington City-Township Public Library.

"That will make some sense, as that will probably take some time to talk about, to go through the different options as to what we're going to do with the employees and where they'll be house while that project is going on," said Council President Jeff Humbarger. "Once we get a work timeline in place we'll have a special meeting to talk about how we're going to handle those things."

Monticue is working with the town attorney to draft the dual resolution on the agreement to sell the property for the new library for the council's meeting in May.

• Monticue reported the 2001 Crown Victoria that had been damaged in an accident has been sold for $2,600, plus about $2,145 in insurance payments for repairs to the vehicle.

• Monticue announced the town-wide garage sale is set for Saturday, May 17. Town cleanup will be Tuesday, May 20, for metal items and Tuesday, May 27, for everything else. Anything over one cubic yard will be subject to a surcharge per cubic yard. Tires will also be charged an additional fee.

The council also moved its next meeting date to Wednesday, May 28, at 7:30 p.m.