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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 structure, explaining that commercial-auto and excess/umbrella liability markets are still seeing upward pressure while cyber liability and workers’ compensation have shown improvement. Collins said the village’s renewal reflected that mix: overall net premium increased by roughly $26,000 (about 2.9 percent).
Collins pointed to the village’s positive workers’ compensation trend, which Alliant credited in part to sustained loss-control efforts by village human-resources staff. He also described the village’s coverage towers: a $1 million primary per-occurrence limit with $3 million aggregate, and $15 million in excess liability above that, plus property and cyber limits. Coverage for employee dishonesty and underground/above-ground storage tanks were discussed as ancillary policies, with an increase in tank deductibles because some carriers now require higher deductibles for older tanks.
Collins presented optional cost-saving scenarios: reducing excess liability from $15 million to $10 million could save roughly $60,000 in premium; increasing certain property deductibles from $5,000 to $10,000 would save a small amount, and raising the law-enforcement deductible could yield savings—but he framed such options as trade-offs between premium savings and retained risk.
Trustees asked for further benchmarking against similar public entities and for more detail on deductible-versus-premium tradeoffs. One trustee asked whether commissions influence the broker’s incentives; Collins said commissions vary by carrier and that he pursued lower premium quotes for the village even when that reduced his own commission. The board asked Alliant to follow up with comparative data and to provide more detailed deductible options.
Sources: Presentation by Thomas Collins, Alliant Insurance Services, Oct. 21, 2025; discussion with village staff.
