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ir COCiV, <br />'Jan <br />REQUEST FOR COUNCIL ACTION C/jy <br />°^°fX)N0 <br />DATE: Januaiy 10,1997 <br />ITEM NO: <br />// <br />Department Approval: . <br />Name Tom Kuehn . <br />Title Finance Director ’ <br />1/Administrator Reviewed:Agenda Section: <br />City Administrator's <br />Report <br />Item Description: <br />1997 Application for Coverage Under the LMCIT Self-Insurance Worker's <br />Compensation Plan <br />Attachment: 1.) <br />2.) <br />Application for Coverage Form <br />Estimated 1997 Premium Quotation <br />We have received the renewal premium quotation for worker compensation insurance <br />from the League of Minnesota Cities Insurance Trust (LMCIT) for the year 1997. The <br />gross premium for 1997 is $45,549, which is reduced by our experience modification of <br />.71 and a premium discount of 8%, resulting in a net initial premium of $29,743. This is <br />a decrease of $840 or 2.7% less than the 1996 initial premium. The decrease is due <br />primarily to a reduction in the base rate for each classification of 4.9% from 1996. The <br />net initial premiums for the prior three years were: $30,583 for 1996, $41,444 for 1995, <br />and $37,354 for 1994. <br />COUNCIL ACTION REQUESTED: <br />Approval of application for coverage and award of worker compensation insurance to the <br />LMCIT for 1997. <br />PROPOSED MOTION: - Moved by., seconded by., to approve the 1997 <br />Application for Coverage under the LMCIT Self-Insured Worker's Compensation Plan <br />and award the 1997 worker compensation insurance to the LMCIT for the initial net <br />premium of $29,743, effective Januaiv'1, 1997. Ayes ____, Nays ___.