Mokena Fire District Faces 14% Insurance Hike, Renews Policies

The Mokena Fire Protection District is grappling with significant increases in insurance costs, with its property and liability policy renewal rate jumping by approximately 14%. The Board of Trustees unanimously approved the renewal along with several other insurance policies during its June 10 meeting.

Fire Chief Joe Cirelli recommended renewing the property and liability policy despite the sharp increase, noting that the new rate also reflects a 5% increase in the value of the district’s buildings and contents.

The district also renewed its accident and health (A&H) and workers’ compensation policies. The total renewal rate for these is $266,570. Chief Cirelli highlighted that this includes an optional cancer benefit of $10,000 per occurrence, which he called “important” as the district plans to offer cancer screenings as part of its annual physicals for members. The A&H policy is bundled with workers’ compensation coverage through the Illinois Public Risk Fund (IPRF), which saw a 5% premium increase. Cirelli noted this was “the lowest increase we’ve experienced in recent memory, likely due to the transition to a higher deductible.”

In contrast to the other rising costs, the district’s cyber liability insurance policy renewed at a flat rate of $5,916 for the year.

The board approved each of the three insurance packages in separate, unanimous roll call votes. The rising premiums reflect a broader trend of hardening insurance markets impacting municipalities and public safety agencies across the country.

In a related move to secure its finances, the board also authorized rolling a maturing $538,000 U.S. Treasury Bill into a new one-year T-Bill. The new investment will capture a 4% yield at a time when, according to Chief Cirelli, interest rates are anticipated to drop in the coming quarters.