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CC Work Session 2. 1. <br />Meeting Date: 06/08/2021 <br />Information <br />Title: <br />Liability Coverage Update <br />Purpose/Background: <br />Mark Lenz, the city's insurance agent, will be giving a brief update about the city's current liability coverage ($2M) <br />with the League of MN Cities and the availability of purchasing excess liability coverage. <br />The cost of additional excess liability coverage (2021 rates) is as follows: <br />Limit Premium <br />$1M $ 28,079 <br />$2M $ 42,118 <br />$3M $ 49,138 <br />$4M $ 52,648 <br />$5M $ 54,403 <br />Timeframe: <br />15 minutes <br />Funding Source: <br />Responsible Party(ies): <br />City's insurance agent - Mark Lenz <br />Outcome: <br />Update city council of the city's current insurance policy as it relates to liability coverage. <br />No files) attached. <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Diana Lund 06/03/2021 08:58 AM <br />Diana Lund (Originator) Diana Lund 06/03/2021 09:03 AM <br />Kurt Ulrich Kurt Ulrich 06/03/2021 02:13 PM <br />Form Started By: Diana Lund Started On: 05/20/2021 02:08 PM <br />Final Approval Date: 06/03/2021 <br />