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River <br /> <br />TO: <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br />Item ~ 5.2. <br /> <br /> PIEPIORANDUPI <br /> <br />Mayor and City Council <br /> <br />Lori Johnson, Finance Director <br /> <br />October 27, 2003 <br /> <br />Consider Insurance Renewal with League of Minnesota Cities <br />Insurance Trust <br /> <br />Although city insurance agent Mary Eberley and I started working on the renewal of the city's policy <br />with the League of Minnesota Cities Insurance Trust (LMCIT) in May for the July 1 renewal, we <br />have just recently received the renewal quote from the LMCIT. A binder was issued on July 1, 2003, <br />to cover the city until the formal policy renewal was completed. Mary Eberley and I will be present <br />at Monday's meeting to discuss the renewal, and in particular to address some of the increases in the <br />premium. <br /> <br />Attached is information regarding the renewal including a memo from Mary Eberley which briefly <br />addresses the premium increase and several other pertinent issues. The total premium for this <br />contract period is $251,065 including Elk River Municipal Utilities and a full year of liquor liability <br />coverage. <br /> <br />Action Requested <br />The City Council is asked to renew city's property/casualty insurance policy with the League of <br />Minnesota Cities Insurance Trust for the period of july 1, 2003 through June 30, 2004. <br /> <br />S:~Council~Lori~2003~LMC IT renewal.doc <br /> <br /> <br />