2.6. ERMUSR 05-20-2014 - Laserfiche WebLink

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SECTION I:LIABILITY COVERAGE WAIVER FORM Cities obtain', liability coverage from the League of Minnesota Cities Insurance Trust must decide whether or n• to waive the statutory tort liability limits to the extent of the coverage purchased. The decision to , e or not to waive the statutory limits has the following effects: • If the city••- not waive the statutory tort limits,an individual claimant would be able to recover no more thanE 500,000.on any claim to which the statutory tort limits apply. The total which all claimants would be ble to recover for a single occurrence to which the statutory tort limits apply would be limited to ,1,500,000. These statutory tort limits would apply regardless of whether or not the city purch-- the optional excess liability coverage. • If the city =Ives the statutory tort limits and does not purchase excess liability coverage,a single claimant •r∎uld potentially recover up to$1,500,000.on a single occurrence. The total which all claimants C Id be able to recover for a single occurrence to which the statutory tort limits apply would also be Ii ited to$1,500,000.,regardless of the number of claimants. G If the city! ,Ives the statutory tort limits and purchases excess liability coverage,a single claimant could po 1 dally recover an amount up to the limit of the coverage purchased. The total which all claimants 1 ould be able to recover for a single occurrence to which the statutory tort limits apply would also be li ited to the amount of coverage purchased,regardless of the number of claimants. Claims to wh the statutory municipal tort limits do not apply are not affected by this decision. This decisio must be made by the city council. Cities purchasing coverage must complete and return this f.rm to LMCIT before the effective date of the coverage. For further information,contact LMCIT. You I ay also wish to discuss these issues with your city attorney. ELK RIVER �,i i CIPAL ;Spp,l]Od League 1 accepts liability coverage limits of$ from the Lea ue of Minnesota C es Insurance Trust(LMCIT). Check one: ❑ The .:ty DOES NOT WAIVE the monetary limits on municipal tort liability established by Mi -sota Statutes 466.04. VC❑ The .' WANES the monetary limits on tort liability established by Minnesota Statutes 466.04, to th I i extent of the limits of the liability coverage obtained from LMCIT. . Date of city • ncil meeting Signature I Position eted form to LMCIT;145 Univers�IyAve. W,St Paul,MN.55103-2044 Return this pl , 79