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CASE # / AGENT OF RECORD FOR 1994 By: Jessie Hart, Finance Officer and Kay McAioney, Personnel Coordinator Background: On December 14, 1993 the current Insurance Service Agreement with Agent of Record Michael Hadtrath and the City of Ramsey will expire. The upcoming term of service would begin December 15, 1993 and continue and remain in effect for a period of one year, unless it is terminated prior to December 14, 1994 by either party giving the other ninety days prior written notice of termination. Michael Hadtrath, of Hadtrath & Associates Inc., has been the Agent of Record for Ramsey since December 15, 1988. As the cost of insurance has increased significantly in the last several years, it is imperative that our Agent of Record and Staff work together to minimize risk and reduce overall insurance costs. By definition, risk management is the method for dealing with risks to which an organization is exposed by identifying all exposures and creating programs to handle them. Mr. Hadtrath has successfully worked with Staff to minimize the City's risk exposure. Mr. Hadtrath has indicated that he will perform the professional services rendered as insurance Agent of Record for the period of December 15, 1993 to December 14, I994 for a fee of $2,200.00, the same amount as the current yeags agreement. Attachments: Agent of Record's Insurance Service Agreement. Recommendation: Staff recommends that the City of Ramsey approve Hadtrath and Associates, Inc. as the Agent of Record for 1994, effective December 15, 1993 through December 14, 1994. Committee Action: To approve/not approve Hadtrath and Associates, Inc. as the 1994 Agent of Record and recommend to the City Council to approve/not approve. Review Checklist: City Administrator Finance Officer Personnel Coordinator FC:10/26/93