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1787.5 /6 <br />TO: <br />Mark Bernhardson, City Administrator <br />JAN 121987 <br />FROM: <br />Tom Kuehn, <br />Finance Director �/1� <br />� � JF fiRONO <br />DATE: <br />January 7, <br />1987 <br />SUBJECT: <br />Insurance <br />Renewals - Worker's <br />Compensation and <br />Additional <br />Umbrella Liability <br />At the December 8, 1986 Council meeting the various insurance <br />renewals were approved for 1987 except for worker's compensation <br />insurance and the additional $1,000,000 umbrella liability, <br />because rates were not available at that time. We have received <br />the following rates for the two policies - worker's compenstion <br />from the League of Minnesota Insurance Trust $53,751; and <br />umbrella liability increasing coverage from $1,000,000 to <br />$2,000,000 for an additional premium of $3,586. The cost of the <br />two policies is $59,337 which brings the total insurance costs <br />for 1987 to $137,687 compared to the total amounts budgeted of <br />$150,405. It is recommended that Council award the worker's <br />compensation and additional umbrella liability to the League of <br />Minnesota Cities Insurance Trust. <br />TO: Mayor and City Council <br />FROM: Mark Bernhardson, City Administrator', <br />Foi d recommending approval. <br />PROPC' . AOTION - Moved by seconded y to award the <br />worker,. ompensation and additional umbrella liability policies <br />in the amount of $59.337 to the League of Minnesota Cities <br />Insurance Trust for policy year 1987 effective January 1, 1987. <br />Ayes Nays <br />