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Case #5: <br /> <br />Renewal of Agreement with T.C. Fields as Agent of Record and Rate <br />Increase Proposal for T.C. Field & Company, City's Insurance Service Agent <br />Company <br /> <br />Assistant City Administrator Moore-Sykes stated that T.C. Fields & Company acts as the City of <br />Ramsey's agent of record and assists the City in securing comprehensive municipal property and <br />casualty coverage through the League of Minnesota Cities Insurance Trust. As such, the City <br />renews its insurance service agreement with T.C. Fields on an annual basis. On November 13, <br />2000, the Assistant City Administrator met with Mark Lenz, the agent of record to review the <br />City's present coverage and anticipated future needs. Mr. Lenz also advised that the City needed <br />to renew its insurance agent service agreement with T.C. Fields for the year 2001, and requested <br />a 9% increase in their fee. CmTently, the annual fee is $3,200 and increasing the fee 9% would <br />be approximately $3,500 for 2001. T.C. Fields received a 9% increase in 1999, for the year <br />2000. In addition, the Assistant City Administrator and the Human Resources Manager have <br />worked with both Mr. Lenz and Ms. Connie Nelph, also of T.C. Fields, since March to <br />investigate more cost effective options for health insurance coverage for City employees. Their <br />assistance was very helpful in determining a basic health plan and continues to be helpful in <br />determining an affordable voluntary supplemental insurance program for the City as well. <br /> <br />Councilmember Anderson inquired what the 9% increase was for. <br /> <br />Assistant City Administrator Moore-Sykes replied that the increase is to cover administrative <br />costs. She stated that they have been very helpful to the staff and will continue to work with the <br />City if the Council does not agree with the increase. <br /> <br />Councilmember Hendriksen replied that the 9% increase amounts to approximately $300.00 and <br />if staff is receiving good service then the increase is worth paying. <br /> <br />Motion by Councihnember Hendriksen, seconded by Councilmember Zimmerman, to <br />recommend that the City Council renew the agreement with T.C. Fields as agent of record and <br />approve the rate increase proposal for T.C. Field. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Hendriksen, Zimmerman, <br />Anderson, and Connolly. Voting No: None. <br /> <br />COMMITTEE INPUT <br /> <br />None. <br /> <br />ADJOURNMENT <br /> <br />Motion by Mayor Gamec, seconded by Councilmember Connolly, to adjourn the meeting. <br /> <br />Motion carried. <br /> <br />Finance Committee/November 28, 2000 <br /> Page 7 of 8 <br /> <br /> <br />