Board approves workers' comp renewal despite 39.2% premium increase

The School District 45 Board approved renewal of the district's workers' compensation policy for Dec. 1, 2024–Dec. 1, 2025, after staff advised the board that the proposed premium is $266,447, an increase of roughly 39.2%.

Mr. Regan said the district's insurer is the Illinois Public Risk Fund, which pools municipal entities. He told the board the insurer and brokers review three years of claims experience when setting premiums and noted that the district's claims history included approximately $180,000 (2020–21), $325,000 (2021–22) and $214,000 (2022–23) in claims. "The total estimated premium that is being proposed for this renewal is $266,447. This represents a 39.2% increase," Mr. Regan said, explaining the market had limited competing quotes and some firms declined to quote.

Board members asked whether claims are reviewed earlier in the safety process; administration said accident reports and the safety committee review incidents and that some claims are being actively managed. The board voted by roll call to approve the renewal and asked staff to continue safety and loss-prevention work to reduce future premiums.