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LMC-IT WAIVER FORM-CONSIDER NOT WAIVING THE STATUTORY TORT LIMITS <br /> By: Heidi A. Nelson, Asst. City Administrator <br /> <br />Background: <br /> <br />As a part of the annual renewal of our property, casualty, and liability insurance coverage for the City <br />of Ramsey, the City Council is required to waive or not waive the statutory tort limits for its liability <br />coverage. Attached to this case is the form that is required to be completed and signed after council <br />approval of a resolution indicating whether the City chooses to waive or not waive the statutory tort <br />limits for liability coverage. <br /> <br />Staff Recommendation: <br /> <br />Staff recommends that Council not waive the statutory tort limits for liability coverage thereby limiting <br />an individual claimant to recover no more than $300,000 on any claim to which the statutory tort limits <br />apply. Under state law, the total which all claimants would be able to recover for a single occurrence <br />to which the statutory tort limits apply would be limited to $1,000,000. <br /> <br />Council Action: <br /> <br />Adopt Resolution 04-12- Not Waiving the Statutory Tort Limits for League of Minnesota Cities <br />Insurance Trust Liability Coverage for the City of Ramsey. <br /> <br />Reviewed by: <br />City Administrator <br /> <br />CC: 12/14/2004 <br /> <br /> <br />