Highland Park joins three other suburbs in forming liability insurance cooperative
According to the city, the
Funds in the pool's own loss fund will be invested and can earn interest income. Surplus funds can be returned to member municipalities in proportion to their contributions once an actuary has determined the funds are no longer needed to pay claims.
"Right now, if you cut a
City Finance Director
"Currently, we go to market by ourselves basically and they just kick us up by five percent every year," Logan said.
She said some of the pools managed by Gallagher have gone for five and 10 years without increases.
___
(c)2018 Pioneer Press Newspapers (Suburban Chicago, Ill.)
Visit Pioneer Press Newspapers (Suburban Chicago, Ill.) at www.chicagotribune.com/suburbs
Distributed by Tribune Content Agency, LLC.
Webster Bank Donates $35,000 to Disaster Relief Efforts
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News