INSURANCEAMENDED

Oak Brook Approves Conditional Withdrawal From IRMA Insurance Pool

The Village of Oak Brook approved an amended resolution to withdraw from the Intergovernmental Risk Management Agency (IRMA), its long-time municipal insurance and risk pool provider. The Village will receive refunds totaling approximately $1.23 million, including reserve and surplus funds, following official withdrawal effective July 1, 2026, contingent on IRMA approval. This action addresses insurance coverage concerns and ongoing litigation.

Status
AMENDED
Document date
May 29, 2026
Contract type
INSURANCE
Vendor
Intergovernmental Risk Management Agency
Agency
Oak Brook village (pt.) · IL

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$615,901 Members Reserve Fund; $283,244 Excess Surplus; $66,906.87 per month (July 1, 2026–Nov 30, 2026), totaling $1,233,679.35 refund
Contract type
INSURANCE
Contract term
Membership from 1979 to July 1, 2026 (withdrawal effective July 1, 2026)
Renewal date
2026-07-01
Renewal
Withdrawal is contingent on IRMA waiving notice requirements and approving refund terms per the resolution. If IRMA Board/Executive Board do not approve by June 9, 2026, withdrawal is null. No further renewals; coverage to cease July 1, 2026.
Document type
AgendaPacket
Source document
Village of Oak Brook AgendaPacket Special Meeting 2026-05-29

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the insurance contract by Oak Brook village (pt.)?

Intergovernmental Risk Management Agency was awarded this insurance contract by Oak Brook village (pt.), as recorded on May 29, 2026. The contract value is $615,901 Members Reserve Fund; $283,244 Excess Surplus; $66,906.87 per month (July 1, 2026–Nov 30, 2026), totaling $1,233,679.35 refund.

How much is the Intergovernmental Risk Management Agency contract with Oak Brook village (pt.) worth?

The Intergovernmental Risk Management Agency contract with Oak Brook village (pt.) is valued at $615,901 Members Reserve Fund; $283,244 Excess Surplus; $66,906.87 per month (July 1, 2026–Nov 30, 2026), totaling $1,233,679.35 refund, covering insurance work.

What type of contract is this?

This is a Insurance contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Village of Oak Brook AgendaPacket Special Meeting 2026-05-29 (AgendaPacket), dated May 29, 2026 from Oak Brook village (pt.). Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Intergovernmental Risk Management Agency hold?

Intergovernmental Risk Management Agency may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Intergovernmental Risk Management Agency's profile

What is Oak Brook village (pt.) currently buying?

Explore Oak Brook village (pt.)'s vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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