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I <br /> I <br /> I <br /> I <br />I <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />I <br />I <br />I <br />I <br /> <br /> FC CASE # ~ <br /> <br />.RENEWAL OF AGREEMENT WITH T.C. FIELDS AS AGENT OF RECORD AND <br />RATE INCREASE PROPOSAL FOR T.C. FIELD & COMPANY, <br /> CITY'S INSURANCE SERVICE AGENT COMPANY <br /> <br /> Kim Moore-Sykes, Assistant City Administrntor <br /> <br />Background: T.C. Fields & ComPany acts as the City of Ramsey's agent of record and assists <br />the City in securing comprehensive municipal property and Casualty coverage .through the <br />League of Minnesota Cities Insurance Trust. As such, the City renews /ts insurance service <br />agreement with T.C. Fields on an annual basis. <br /> <br />On November 13, 2000, the Assistant iCity Administrator met with Mark Lenz, the agent of <br />record to review the City's present coverage and anticipated future needs. 'Mr. Lenz also advised <br />that the City needed to renew its insurance agent service agreement with T.C. Fields for the year <br />2001 and requested a 9% increase in their fee. Currently, the annual fee is $3,200 and increasing <br />the fee 9% would be approximately $3,500 for 2001. T.C. Fields received a 9% increase/n 1999 <br />for the year 2000. <br /> <br />In addition, the Assistant City Administrator and the Human Resources Manager have worked <br />with both Mr. Lenz and Ms. Connie Nelph, also of T.C. Fields, since March to investigate.more <br />cost effective options for health insurance coverage for City employees. Their assistance was <br />very helpful in determining a basic health plan and continues to be helpful in determining an <br />affordable voluntary supplemental insurance program for the City as well. <br /> <br />Committee Action: Recommend renewal of the agreement With T.C. Fields as agent of record <br />and approve the rate increase proposal for T.C~ Field. <br /> <br />Council Action: Motion to approve Committee recommendation to renew the a~eement with <br />T.C. Fields as agent of record and approve the rate increase proposal for T.C. Field. <br /> <br />Reviewed by: <br />City Administrator <br /> <br />Copies also Distributed to: <br />City Administrator <br />Finance Officer <br /> <br />Attachments: <br />1. Copy of Insurance Service Agreement from 1999.- 2000. The agreement for 2001 will be essentially the <br />same unless Council approves rate increase to $3,500. <br /> <br />FC: 11/28/2000 <br /> <br />Shared/agenda council and commissions/finance/2000/november/renew agreement with T.C. Fields.cas <br /> <br />-279- <br /> <br /> <br />