City staff recommended the City of Lockport renew property, liability and cyber coverage with Obsidian Insurance Holdings and to continue workers’ compensation coverage through the Illinois Public Risk Fund (IPRF) for the 2026 policy year.

Lisa and Maggie (city staff) told the council the broker Horton Group (now part of Marsh McLennan Agency) went to market for 2026 and obtained renewals the staff described as favorable. Tony Evans of Marsh McLennan, who said he has “been doing this 35 plus years,” presented comparable market context and underwriting drivers, including higher replacement costs for buildings and rising law‑enforcement liability and auto liability exposures.

Evans said Obsidian is a newer, financially rated program the broker evaluated and that the city’s property/liability/cyber placement with Obsidian and IPRF for workers’ comp combined to a roughly 5.5% net increase over the current program. He described the property and liability component as “a 1.04 increase” and said the workers’ compensation portion with IPRF showed about a 10% increase, noting that the combined effect was modest compared with recent years.

Staff requested placement of two resolutions (Resolution 25098 and Resolution 25099) on the next meeting agenda for action or consent to finalize the renewals and allow Purchasing/Finance to complete the process.