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If the city waives the statutory tort limits and does not purchase excess liability coverage, a <br />single claimant could potentially recover up to $750,000 on a. single occurrence. The total <br />which all claimams would be able to recover for a single occurrence to which the statutory <br />tort limits apply would also be limited to $750,000, regardless of the number of claimants. <br /> <br />If the city waives the statutory tort limits and purchases excess liability coverage, a single <br />claimant could potentially recover an mount up to the limit of the coverage purchased. The <br />total which alt claimants would be able to recover for a single occurrence to which the <br />statutory tort limits apply would also be limited to the amount of coverage purchased, <br />regardless of the number of claimants. <br /> <br />Sub-limits and aggregate limits <br /> <br />Besides the general coverage limit of $750,000, the LMCIT liability coverage includes some <br />sub-limits and/or annual aggregate limits on liability coverage for certain specific exposures. <br /> <br />Exposure Per occurrence limit Annual aggregate limit <br />Products a~d Completed operations $750,000 $7-50,000 <br />Failure to supply utilities $750,000 $750,000 <br />Electromagnetic fields $750,000 $1,500,000 <br />Fire damage liability $50,000 <br />Limited pollution * $750,000 $750,000 <br />£ead or asbestos * $200,000 $200,000 <br />Land use and development iitigation* $ i,000,~300 $I,00010~0 <br /> <br />* Legal defense costs and loss adjustment costs are included within the coverage li.mit <br /> for these exposures. <br /> <br />The optional "medical payments" coverage, which provides "no-fault" coverage for medical costs <br />for injuries that occur on city premises, has limits of $1000/claimant and $10,000/occurrence. <br /> <br />The effect on excess coverage <br /> <br />Because the primary coverage limit is higher, the cost of the optional excess coverage is a bit less <br />for the coming year. Each city should regularly review and consider whether it makes sense to <br />carry excess liability coverage for added protection on claims to which the statutory limits don't <br />apply. The LMCIT memo on excess liability coverage discusses various reasons to consider <br />carrying excess liability coverage. Call LMCIT for a copy of that memo if you don't have it. <br /> <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> <br /> I <br /> i <br /> <br />I <br />I <br />I <br />I <br />I <br /> I,! <br />I <br /> <br /> <br />