Laserfiche WebLink
12392.1 H <br />TO; <br />FROM; <br />DATE; <br />Ron Moorse, City Administrator <br />Tom Kuehn, Finance Director <br />January 23, 1992 <br />''fin. <br />% <br />SUBJECT: Insurance Renewals and Agent ot Record Aateement for <br />1992 <br />Attachment; A. Insurance Policy Premium Tabulation <br />B. Agent of Record Agreement <br />ISSUE <br />1. Adoption of award recommendations for renewal of insurance <br />coverages effective January 1, 1992. <br />2. Approve and appoint insurance agent of record for 1992. <br />DISCUSSION <br />INSURANCE RENEWALS <br />Attached is a comparative tabulation, by type, of the 1991 actual <br />and 1992 estimated insurance premiums, and the 1992 budget <br />amounts. The total of all lines for 1991 was $153,864 compared <br />to the 1991 budget of $158,600. The estimated total for 1992 is <br />$155,374 como’red to the 1992 budget of $161,260. The multi <br />peril package .eflects an increase of $12,665 or 23% from 1991 to <br />1992. The property premium increase is due to the addition of <br />the emergency preparedness sirens and the new water well and <br />pumphouse on Highway 12. Most < f the other increases are due to <br />rate or rate factor increases except for the builders risk on the <br />new city facilities ($1,558) and the proposed addition of the <br />petroleum tank liability coverage through the Petrofund <br />Reimbursement ($2,318) which are both new cove; .ges for 1 992. <br />The renewal premiums shown are all actual renewal costs with the <br />vendors indicated with the exception of the liquor liability <br />insurance for the golf course beer sales which does not renew <br />until April 1, 1992 so will be presented in March 1992; however <br />the estimated premium shown should be very close. <br />The estimated renewal for all 1992 insurances is $155,374 <br />compared to the 1992 proposed budget of $161,260 or a difference <br />of $5,886. In December, 1991 the City received an LMCIT dividend <br />check in the amount of $17,181, which is larger than the usual <br />amount. There is no guarantee of the dividend for 1992. <br />AGENT OF RECORD .... <br />The City of“"5"rono Agent of Record Agreement with Mr. Duweyn <br />Carlson of the Apple Valley Agency needs to be renewed and signed <br />for policy year 1 992. We were satisfied with Mr. Carlson as he <br />continued his high level of service to the City during 1991. The <br />fee for service for 1992 is $7,000 which is an increase of $200