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March 11,2002 <br />2002 Insurance Policy and Worker Compensation Insurance Policy Premium Tabulation and <br />Award Recommendations, page 2 <br />Liability Insurance Packaye Policy and Excess Liability <br />The package policy and excess liability policy premiums total $114,937 for 2002, <br />compared to $110,450 for 2001, and S107,192 for 2000. The increase from 2001 to 2002 <br />is $4,487, or 4.1%. The premium increase is comprised of property value adjustments to <br />offset inflation and rate increases in vehicle and excess liability coverages. <br />Staff recommends the award of the 2001 insurance coverage as presented in the <br />attachment and the adoption of the attached resolution. <br />COUNCIL ACTION REQUESTED: <br />(1) Award of the 2002 insurance package effective January 1, 2002 to the League of <br />Minnesota Cities Insurance Trust for worker compensation coverage, $58,758; <br />comprehensive municipal property and casualty package, $90,406; umbrella excess liability, <br />$20,313; petrofiind reimbursement, $246; open meeting law, $880; boiler and machinery, <br />$1,652; surety bonds, $977; and golf course liquor liability, $563. <br />(2) Adopt Resolution No____, To Not Waive The Statutory Tort Limits For Liability <br />Insurance Purposes. <br />Wl*WINWWPDOCS\TONW0021nfT»b »pJ