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<br />'1.0(, <br /> <br />LEAGUE OF MINNESOTA CITIES.INSURANCE TRUST (LMC-IT) W AIVERFORM- <br />CONSIDER WAIVINGINOT WAIVING THE STATUTORY TORT LIMITS <br />By: Heidi A. Nelson, Deputy City Administrator/Director of Community Development <br /> <br />Background: <br /> <br />As a part of the annual renewal of our property, casualty, and liability insurance coverage for the City <br />of Ramsey, the City Council is required to pass a resolution waiving or not waiving the statutory tort <br />limits for its liability coverage. Attached to this case is the LMC-IT form that is required to be <br />completed and signed after council approval of a resolution indicating whether the City chooses to <br />waive or not waive the statutory tort limits for liability coverage. If Council were to waive the <br />statutory limits, additional insurance coverage would need to be purchased by the City to cover the <br />increased liability the City is assuming. <br /> <br />In recent years, Council has considered waiving the statutory tort limits and purchasing additional <br />insurance coverage. Staff obtained rates for the increased coverage in 2008. Council subsequently <br />approved not-waiving the statutory tort limits for 2008. If Council were to decide to waive the <br />statutory tort limits and purchase additional tort liability coverage, staff would request rates for the <br />increased coverage for 20 1 0 and bring them back tor Council consideration at a future regular meeting <br />of Council. Attached to this case, is a League of.rvrN Cities memo re: Liability Coverage Limits. <br /> <br />Staff Recommendation: <br /> <br />Staff recommends that Council adopt a resolution as last year not waiving the statutory tort limits for <br />liability coverage. <br /> <br />MN state liability limits are $500,000/$1,500,000, effective July1, 2009. <br /> <br />Council Action: <br /> <br />Adopt Resolution 10-01-_ Not Waiving the Statutory Tort Limits for League of Minnesota Cities <br />Insurance Trust Liability Coverage for the City of Ramsey. In the alternative, the Council may adopt a <br />resolution waiving the statutory tort limits for League of Minnesota Cities Insurance Trust Liability <br />Coverage for the City of Ramsey. <br /> <br /> <br />~~~i~;:i~i~~rator: ./~~ L' 9 <br /> <br />Attachments: <br />Resolution <br />LMC-IT Waiver Form <br />League of.rvrN Cities Memo re Liability Coverage Limits <br /> <br />CC: 01112/2010 <br />