03-22-1993 Council Packet - Laserfiche WebLink

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TO: Ron Moorse, City Administrotor FROM: Tom Kuehn, Finance Director DATE :March 5, 1993 SUBJECT: Insurance Renewals for 1993 Attachment: Insurance Policy Premium Tabulation ISSUE . ^ , £ • -AdoDtion of award recommendations for renewal of insurance coverages effective January 1, 1993. Attached is a comparative tabulation of the 1992 actual and 1993 insurance premiums, and the 1993 budget amounts. At this^time we are recommending award and payment of the policies ror all except the multi peril package, which is under review; the liquor liability, which renews April 1/ and the worker compensation, which was approved and awarded at the December 14, 1992 Council meeting. The boiler policy includes the old and new city sites. Upo.n completion of demolition of the old administration building we will apply any credit due. The petro fund reimbursement policy includes the fuel tanks at the old site. We anticipate a reduced cost next year after the removal of the .old tanks. .. . The multi peril package is under review because of the increases, esDecially in the general liability. We have been informed that there are errors in certain ratings and should have the corrected figures for the next Council meeting. At that time we will ^^^e information relating to the impact of the new facilities on the insurance premiums. previously awarded, or renewing at a later date. PROPOSED MOTION; Moved by seconded by to award the insurancereffeccive January' 1- 993 as Insurance Group for boiler and machinery $429; to the St. Paul Fire and Marine InLrance Co. for small computers $500; and to the United Fire and Casualty for surety bonds $x,198. Ayes _, Nays A