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~..~ty of <br /> <br />iver <br /> <br />MEMORANDUM <br /> <br />Item # 5.3. <br /> <br />TO: <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br />Mayor & City Council <br /> <br />Lori Johnson, Asst. City Administrator/ <br />Finance Director <br /> <br />September 22, 1997 <br /> <br />Consider City Insurance Renewals <br /> <br />The city's liability, property, inland marine, and other related policies are up <br />for renewal on October 1. Each year the city works with its agent of record, <br />Dan Greene of First National Insurance, on renewing the city's policies. <br /> <br />This renewal process includes several components, the first of which is <br />updating all of our equipment and property schedules to ensure that values <br />are correct and all of the equipment is insured. Second, we review all of the <br />deductibles to determine whether or not it would be cost effective to increase <br />the deductibles on various items. Next, quotes are requested from all <br />insurance companies doing business in the State of Minnesota who insure <br />cities. As you know from the past, that group is very limited due mainly to <br />the League of Minnesota Cities Insurance Trust's aggressive rates and broad <br />claims interpretations. <br /> <br />At this time none of the renewal information is available. Dan Greene and I <br />will both be at the Council meeting to present the renewal information in <br />detail. In addition we will update the Council on our Worker's Compensation <br />deductible and managed care programs. We will also be available to answer <br />any questions you may have regarding any of our policies. <br /> <br />\\elkriver\sys\shrdoc\councilkinsrenew.doc <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · TDD & Phone: (612) 441-7420 · Fax: (612) 441-7425 <br /> <br /> <br />