City of Lake Forest City Council Agenda December 2025
City Increases IRMA Deductible for Reduced Insurance Costs
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Description
The City Council authorized an increase in the deductible with the Intergovernmental Risk Management Agency (IRMA) from $25,000 to $50,000 for 2026, reducing the City's insurance contribution to $1,598,463.
Contract Details
Contract Amount
$1,808,787 (2026 contribution, reduced to $1,598,463 if deductible increased)
Vendor
INTERGOVERNMENTAL RISK MANAGEMENT AGENCY (IRMA)
Agency
City of Lake Forest, IL
Contract Type
INSURANCE
Document Date
December 1, 2025
Contract Term
Annual, 2026
Renewal Date
2026-12-31
Renewal Info
Annual reauthorization with potential for future adjustments to deductible and premium contribution.
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