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District 88 insurance renewals: property/liability up slightly; workers’ comp premium drops after surplus refund
Summary
At the meeting the board heard that the 2025–26 CLIC property/liability renewal will total $427,283 (up 1.4%) and that the SELF workers' compensation premium will be $146,230 (about a 24% decrease), including a roughly $47,741 refund from prior year surplus.
District 88 staff presented the district's 2025–26 insurance renewals and a summary of factors driving the changes.
The district's coverage through the Collective Liability Insurance Cooperative (CLIC) — a self‑funded cooperative for Illinois school districts — will have an annual premium of $427,283 for 2025–26, a net increase of $5,983 (about 1.4%). Staff said the district's five‑year loss ratio fell from 99.8% to 27.9%, producing a premium credit of 15.9 percent; staff cited a prior large claim that fell off the calculation. Some lines saw larger percentage changes (excess liability increase of nearly 34 percent; general liability up 13 percent). Primary cyber liability decreased 9.3 percent from the prior year.
The School Employee Loss Fund (SELF), which covers workers' compensation in a self‑insured cooperative, showed a larger benefit: District 88's annual premium for 2025–26 will be $146,230, a decrease of about $47,000 (roughly 24 percent) from the prior year. Staff said SELF refunded $47,741 of prior‑year premiums to the district, which reduced the net cost. District staff noted ongoing loss‑control work with SELF, and that the district's recent claims have been driven primarily by slip/trip/fall and strain/exertion incidents.
Staff said the district routinely works with the pools on loss prevention training and grant‑funded safety equipment purchases and expressed satisfaction with the renewal results.
