2.1.
CC Work Session
- Meeting Date:
- 06/08/2021
Information
Title:
Liability Coverage Update
Purpose/Background:
Mark Lenz, the city's insurance agent, will be giving a brief update about the city's current liability coverage ($2M) with the League of MN Cities and the availability of purchasing excess liability coverage.
The cost of additional excess liability coverage (2021 rates) is as follows:
The cost of additional excess liability coverage (2021 rates) is as follows:
| Limit | Premium |
| $1M | $ 28,079 |
| $2M | $ 42,118 |
| $3M | $ 49,138 |
| $4M | $ 52,648 |
| $5M | $ 54,403 |
Timeframe:
15 minutes
Funding Source:
Responsible Party(ies):
City's insurance agent - Mark Lenz
Outcome:
Update city council of the city's current insurance policy as it relates to liability coverage.
Attachments
No file(s) attached.
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Kurt Ulrich | Diana Lund | 06/03/2021 08:58 AM |
| Diana Lund (Originator) | Diana Lund | 06/03/2021 09:03 AM |
| Kurt Ulrich | Kurt Ulrich | 06/03/2021 02:13 PM |
- Form Started By:
- Diana Lund
- Started On:
- 05/20/2021 02:08 PM
- Final Approval Date:
- 06/03/2021