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2.5. ERMUSR 03-13-2013
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2.5. ERMUSR 03-13-2013
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4/3/2013 3:04:24 PM
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City Government
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ERMUSR
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3/13/2013
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RESOLUTION 13-2 <br /> A RESOLUTION OF ELK RIVER MUNICIPAL UTILITIES <br /> A RESOLUTION APPOINTING INSURANCE AGENT OF RECORD FOR <br /> LEAGUE OF MINNESOTA CITIES INSURANCE TRUST <br /> WHEREAS, the League of Minnesota Cities Insurance Trust (LMCIT) requires cities to <br /> use the services of an agent in order to participate in the LMCIT <br /> property/casualty program; and <br /> WHEREAS, the Utilities Commission has reviewed and considered the written materials <br /> from LMCIT discussing the agent's role and compensation in LMCIT; and <br /> WHEREAS, Northern Capital Insurance Group has agreed that they are willing to provide <br /> to the city and utility the services listed below under the terms and conditions <br /> listed below; and <br /> NOW, THEREFORE, BE IT RESOLVED THE FOLLOWING: <br /> Appointment <br /> 1. Elk River Municipal Utilities hereby appoints as its agent for purposes of the city's <br /> participation in the LMCIT property/casualty and workers' compensation programs. <br /> Northern Capital Insurance Group <br /> Term: five (5 years) <br /> 2. This appointment shall remain effective until June 30, 2018. <br /> Compensation <br /> 3. As compensation for the services provided to the utility as described in Paragraph 4 <br /> below, the utility will pay to the agent a fee of$3,500 annually. The utility hereby <br /> directs LMCIT not to include any allowance for an agent's fee in quoting and billing <br /> the utility's premiums for property, liability, and automotive coverage and to refund <br /> the two percent workers' compensation coverage agent fee allowance to the city. <br /> Services <br /> 4. The agent will perform the following services: <br /> a. Advise and assist the city in assembling and accurately reporting underwriting <br /> data,including updating property values, for rating purposes. <br /> b. Advise and assist the city in evaluating and selecting among coverage alternatives <br /> such as deductibles, limits, optional coverages, and alternative coverage forms, <br /> etc. <br /> c. Review coverage documents and invoices to assure coverage has been correctly <br /> issued and billed. <br /> d. Advise the utility on potential gaps or overlaps in coverages. <br /> C:\Users\jnelson\Appllata\Local\Microsoft\Windows\Temporary Internet Files\Content.Outlook\UGVSYSJF\2013-3-5 8- <br /> Insurance Agent of Record Resolution(2).doc <br />
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