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Itasca to join Intergovernmental Risk Management Agency, approves retroactive tail coverage
Summary
The Village voted to join the Intergovernmental Risk Management Agency (IRMA), to appoint Jennifer Mitchell as delegate (with Cindy Slowinski as alternate), and to purchase retroactive 'tail' claims coverage effective 05/01/2022 through 04/30/2028 to cover occurrences prior to the new policy.
The Village Board approved joining the Intergovernmental Risk Management Agency (IRMA) and purchasing retroactive tail coverage for claims‑made policies at its Nov. 5 meeting.
Trustee Powers described the benefits of joining the pooled risk agency — including broader coverage and a projected reduction in premiums — and introduced an ordinance to authorize membership. The board moved, seconded and approved the ordinance; the board also approved a resolution appointing Jennifer Mitchell as the village delegate to IRMA with Cindy Slowinski as her alternate.
As part of the IRMA package, the board approved purchasing tail coverage retroactive to May 1, 2022 through April 30, 2028. Staff explained the tail coverage provides protection for occurrences that took place before the new policy became effective but which may be reported later; the board discussed that the tail would cover potential claims in the statute‑of‑limitations window.
Board members asked how panel counsel and outside counsel participation would work; staff said the pool uses panel counsel but the village can engage its own counsel on a case‑by‑case basis and would pay those fees separately.
What happens next: staff will finalize IRMA membership documentation, formalize delegate appointments, and complete purchasing of the tail coverage. The Finance Department and legal staff will coordinate contract acceptance and notify the board once coverage is in place.
