Council reviews Gallagher presentation; approves property‑casualty insurance renewal for FY 2025–26

The city’s insurance broker, Gallagher, presented the property, casualty and liability insurance renewal for fiscal year 2025–26 to the Forest Park council on June 16, reporting improved city loss experience and proposing a renewal structure that keeps retained-loss budgeting steady.

Matt Simmons of Gallagher told the council the city moved in the prior year from a guaranteed-cost deductible program to a protected self-insured program because of historical loss trends; Gallagher’s 10-year review shows losses in the current year (2024–25) have declined significantly. Based on exposure changes and market conditions, Gallagher projected fixed insurance costs and estimated a modest net rate increase from premium-exposure dynamics. Gallagher presented a proposed total fixed-cost increase that included a small claims-administration fee increase and left the retained-loss budget unchanged at the previously recommended amount.

Staff emphasized they had engaged an underwriter directly to obtain improved terms and presented the renewal analytics. Gallagher asked the council to budget the fixed insurance cost line consistent with the renewal materials and to maintain the currently recommended retained-loss budget figure. Council members had no substantive objections in the public session; the governing body approved the renewal as presented.

Council members and staff noted the city recently added a dedicated risk manager, which staff and the broker said should further reduce the city’s total cost of risk over time if current loss trends continue. Staff also noted the renewal takes effect July 1 and that the original renewal came back much higher before broker and underwriter engagement.

The council voted to approve the renewal package and to continue the city's risk-management focus.