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Tollway committee recommends $2.57 million property‑insurance renewal, will send item to full board
Summary
The Finance and Audit Committee recommended that the full board consider a one‑year property‑insurance program with $200 million of coverage and an annual premium not to exceed $2,566,970; the committee also heard that a separate procurement for insurance brokerage services is underway.
At its March 20, 2025 meeting, the Finance and Audit Committee of the Illinois State Toll Highway Authority recommended that the full board consider renewal of the authority's one‑year property insurance program, with limits and pricing as presented by Chief Financial Officer Kathy Williams.
Williams said the current program — expiring April 1, 2025 — includes blanket property coverage for bridges and structures the authority owns and business‑interruption coverage for loss of toll income. The authority used the CMS master contract to obtain broker services from "Meso Insurance Services" for the renewal procurement, she said.
The proposed renewal would maintain $200…
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