Carroll County Electric Board Approves 2025-26 Insurance Coverages

HUNTINGDON (July 31) — The Carroll County Electric Department Board approved insurance coverages for 2025-26 during Thursday's regular meeting, including one renewal with a rate increase and one provider change for a rate decrease.

General Manager Ryan Drewry and S&S Insurance agent Jacob Smothers provided an overview of the policies.

First, they addressed the renewal of property-casualty coverage through the Tennessee Valley Public Power Association Distributors Insurance Program, which covers categories such as workers compensation, general liability, equipment breakdown, commercial crime, property and management and fiduciary liability.

The cost of the annual premium is increasing by 12 percent, of which four percent is a rate increase and the other eight is increases in coverage due to higher equipment and property values.

Board members approved the proposed policy unanimously.

Second, two options were presented for cyber coverage insurance. Renewal with the current provider, Coalition, would come with a 19.7 percent increase. The deductible would remain $5,000. The alternative, Cowbell, a company the department has used before, would be a 26.1 percent decrease in premium, but with a $10,000 deductible.

Board member Chris Gurley made a motion to accept the Cowbell policy, which was approved unanimously.

Drewry reported that the Silicon Ranch solar farm in Trezevant was online.

He also updated the board on the progress at the Leach substation. There are several items still to be bid out with lead times of six to eight months. The target to get the substation online remains November 2026.

The meeting adjourned after eleven minutes.

The board next meets on Thursday, August 28 at 2:30 p.m.