Township switches liability coverage to Torma after premium review; council adopts intergovernmental agreement

The Town of Quincy adopted a resolution authorizing an intergovernmental cooperation contract with Torma (Township Officials of Illinois Risk Management Association) to provide liability and related insurance coverage to the township.

Township supervisor Maggie Hoyt explained the township had previously been charged by MICA and that a mischarge increased the tentative budget. The supervisor said she solicited an alternate bid and that Torma's quoted consolidated cost of roughly $18,000 would replace the higher MICA estimate and would include the supervisor bond in its price. The council adopted the resolution by roll call vote, recorded as 14 ayes.

During discussion, council members asked about the township's claims history; Hoyt responded the township had not made claims under the coverage. The supervisor and staff clarified that last year the budget had line items split between MICA and a supervisor bond; the change to Torma consolidates those costs and avoids an additional separate bond payment.

Council members asked whether switching the township's insurer would affect the city's payments to MICA; staff said it would not affect the city's MICA payment. The change was described as a procurement decision driven by lower premium estimates and correction of the prior-year charge.

The resolution was adopted in the town-business portion of the meeting. The clerk recorded the roll-call vote as unanimous: 14 ayes.

The council instructed staff to file the intergovernmental cooperative agreement and to reflect the insurer change in the final budget documents.