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CASE #1 <br /> <br /> INSURANCE AGENT OF RECORD <br />By: Sandra Ashley Hailing, Finance Officer <br /> <br />Background: <br /> <br />At the Budget Committee meeting of October 22, 1991, Mr. Michael Hadtrath met with the Committee <br />to discuss the services his agency can perform for the City. On October 8, 1991, Mr. Conway OIson of <br />T.C. Fields discussed his agency's interest in working with the City of Ramsay. During these <br />discussions several questions were asked each agent, and their responses are as follows: <br /> <br />1 ) What specific risk management services would your firm offer the City of Ramsay. <br /> <br />Mr. Hadlrath stated he is and has been available to assist the City in risk management <br />activities; however, he has responded to requests rather than initiate as he doesn't <br />want to bother the staff. He would propose working with the various departments to <br />assess risk. <br /> <br />Mr. Conway Olson stated his firm would work with staff to establish a safety <br />committee and manual, promptly notify the City of any new or pending legislation <br />that may affect cities and meet with to discuss or publish an .update for any new <br />insurance information. <br /> <br />2) <br /> <br />What criteria would you consider if the City of Ramsay is looking at the question of <br />whether or not a City could or should be self-insured? <br /> <br />Both gentlemen stated the City of Ramsay should look at setting aside some funds in <br />an insurance account (or fund). As these funds increase they could be used to provide <br />the security for an increase in the premium deductibles. <br /> <br />3) <br /> <br />In your opinion, does the City of Ramsay need the "Miscellaneous Equipment" on "Auto" <br />coverage (Annual premium of $451.00)? <br /> <br />Mr. Hadtrath felt some or all of this coverage should be retained due to the amount of <br />equipment in squad cars. <br /> <br />Mr. Olson felt the City doesn't necessarily need this coverage, but should instead set <br />aside the premium equivalent in a "self-funded" approach. <br /> <br />4) <br /> <br />In your opinion, does the City of Ramsey need the "Inverse Condemnation" coverage (Annual <br />premium of $1,191.00)? <br /> <br />Mr. Hadtrath feels the City should not retain this coverage. <br /> <br />5) <br /> <br />Mr. OIson recommends the City continue this coverage due to the level of development <br />occuring in our community. <br /> <br />The City has a policy whereby all City employees are bonded in an amount of $20,000 <br />per employee. Do you feel this is appropriate? <br /> <br />Mr. Hadtrath feels that all employees should be covered and $20,000.00 is adequate. <br /> <br />Mr. OIson stated the City Administrator and Finance Officer should be bonded for at <br />least $100,000 <br /> <br />Should the City have pollution coverage? <br /> <br />Both gentlemen responded no, with Mr. Hadtrath adding it is difficult to collect on <br />this coverage. <br /> <br /> <br />