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Village reviews insurance renewal; liability costs pressured while workers' comp trends improve
Summary
Alliant Insurance presented the village’s insurance renewal for the Dec. 1 policy year. The overall premium increase was small (about 2.9%); law-enforcement and umbrella/excess liability lines remain pressured while workers’ compensation premiums declined on improved loss history.
Vernon Hills — The village received an insurance renewal briefing Oct. 21 from Alliant Insurance Services covering property, liability, cyber and workers’ compensation lines ahead of the Dec. 1 policy renewal.
Why it matters: Insurance premiums and deductibles affect annual operating costs and budget planning. Law-enforcement liability and excess-umbrella coverage were identified as the most challenged lines in the marketplace; workers’ compensation improved for the village because of a favorable recent loss history.
Alliant broker Tom Collins reviewed market conditions and the village’s coverage…
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