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Actuary: LaSalle County insurance trust faces multimillion‑dollar shortfall under 2032 projection
Summary
Actuary Stephen Glicksman told the LaSalle County Insurance Trust that, under a draft actuarial study projecting claims through 2032, the trust would need roughly $20.4 million plus a $1 million contingency to be fully pre-funded; trustees discussed bonds, shorter funding horizons and accepted the draft report for the record.
Stephen Glicksman, an actuary, presented a draft actuarial study to the LaSalle County Insurance Trust on March 18, saying the report projects outstanding and future claims through 2032 and lays out associated reinsurance and administrative costs.
Glicksman described a "table one" face-value total for outstanding and future claims and then added accompanying reinsurance and administration expenses. He reported a combined funding need shown on the committee's exhibit SU-3 of about $20,425,000 and recommended adding a $1,000,000 margin for catastrophic contingency. According to the figures discussed in the…
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