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Wisconsin County Mutual Insurance Corporation plans to lower the county’s property and liability insurance from $10 million to $1 million. At Monday’s Monroe County Board meeting, the Finance Department said there is work to be done on the issue.

“Dropping coverage from $10 to $1 million is not our choice, but the insurance company’s,” said Finance Department Chairperson Teresa Pierce. “Their rationale is something we disagree with, and is a decision we are not supportive of.”

Preliminary estimates show that the price for coverage would stay about the same. The county pays approximately $200,000 for umbrella insurance, but some years the payment isn’t nearly that much.

Wisconsin County Mutual presented its Board of Directors’ decision to the Finance Department July 23. At the meeting, it explained that the County had two significant payouts in the past 20 years. Those large payouts occurred in 1993 and 2002.

The Finance Department said the insurance company is only required to give 60 days notice of changes, but that it has given the county six months notice, which is appreciated. The Department plans to meet with the company again and further investigate possible changes in the policy.