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'APPROVE RENEWAL FOR PROPERTY/CASUALTY AND <br /> WORKERS COMPENSATION INSURANCE <br /> By: Heidi A. Nelson, Asst. City Administrator <br /> <br />Background: <br /> <br />The City of Ramsey renews it property/casualty and workers compensation insurance on an annual <br />basis. Mark Lenz ofT. C. Field, the City's agent of record for property/casualty and workers <br />compensation insUrance, presented information regarding the renewal during the Council work session <br />of February 10th, ¢004. Additional rates for alternative deductible structures were received front T. C. <br />Field and reviewed by Council during that work session. Council directed that staff research <br />decreasing the deductible structure to reduce premiums. Staff has not received that reduced deductible <br />information from T.C. Field in time for preparation of this report, however will have the information <br />available at the Finance Committee for review. <br /> <br />Staff has also prepared a document that details the Insurance Fund revenue and expenses for the past <br />ten years for Council review. That document is attached to this case. Also attached is the renewal <br />information provided during the work session of February 10th, 2004. <br /> <br />Staff Recommendation: <br /> <br />Staff recommends reviewing the additional deductible structure information during the Finance <br />Committee discussion and making a recommendation regarding the renewal. A generic resolution <br />approving the renewal has been prepared to be completed per Council direction. <br /> <br />Council Action: <br /> <br />Based on Council discussion. <br /> <br />Reviewed by: <br />City Administrator <br />Finance Officer <br /> <br />FC: 02/24/04 <br /> <br /> <br />