A major storm and settlements of inmate lawsuits contributed to a nearly $20 million increase in the West Virginia Board of Risk and Insurance Management’s claims expenses.
The agency’s annual report shows that claims expenses claims for the fiscal year that ended June 30 totaled more than $53 million. About $4 million of the expenses were due to the derecho on June 29, 2012.
Director Chuck Jones told the Charleston Gazette that most of the state’s 55 counties had damage claims because of the storm.
He said that the storm also hit the state park system hard.
Jones said the agency settled claims on about 100 regional jail lawsuits and 75 Division of Corrections lawsuits.
He said the agency remains fiscally sound, despite the increase in claims
Was this article valuable?
Here are more articles you may enjoy.
Here Are Some AI Doomsday Scenarios Researchers Say Could Put Humanity at Risk 
Takeaways From AP Analysis on the Flaws in National Flood Insurance 
McKinsey Rebukes Partner Who Questioned Challenges Facing Women CEOs 
AXA XL Launches Insurance Company, AXA XL E&S 
