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NOH'fHV--RN CAPITAL
<br /> INSURANCE GARO JKwn m, NpRiHt'IM CAPITAL_CO',SW-FICIAL LINES,INC.
<br /> NORTHERN CAPITAL PERSONAL UNF.S,1120.
<br /> June 23, 2014 NaR7HFRN UNDERWRITERS,ING.
<br /> WAYNE MANN AGENCY,INC.
<br /> BUSINESS IIJSURA12CE MOKERS,INC.
<br /> LICGOVERN AND FISBER INSURANCE AGENCY,INC.
<br /> Tim Simon GODDARD AND MANN AGENCY,!€.0
<br /> City of Elk River
<br /> 13065 Orono Parkway
<br /> Elk River, MN 55330
<br /> RE: Property/Casualty Insurance Renewal Eff. 7/1/2014
<br /> Dear Tim:
<br /> The renewal premium is $245,853 at your current$20,000 per occurrence/$40,000
<br /> annual aggregate deductible, except the Equipment Breakdown has a separate$20,000
<br /> per accident deductible and the Liquor Liability has no deductible.
<br /> Other Annual Aggregate Deductible options are:
<br /> Deductibles Premium (Approximate)
<br /> $20,000/$60,000/$1,000 $235,259
<br /> $25,000/$50,000/$1,000 $233,508
<br /> $25,000/$75,000/$1,000 $222,479
<br /> $25,000/$100,000/$1,000 $218,414
<br /> $50,000/$100,0001$1,000 $192,499
<br /> $50,0001$150,0001$1,000 $186,025
<br /> Our Risk Retention Analysis is enclosed. It is based on the above deductible options.
<br /> There are several items that impacted the renewal premium:
<br /> I. The City Hall/Utilities office building and contents coverage for both entities is
<br /> included for$4,253 building plus $1,115 contents premium. The Utilities portion
<br /> of the premium is: Building$1,174 (27.6% or 12,488 sq. ft.), and Contents $241
<br /> ($380,000 coverage @ 0.0634/$100).
<br /> 2. The property premium reflects the down grading of the citywide ISO Fire
<br /> Protection Class from a 3 to a 5 rating.
<br /> 3. Municipal/Auto Liability Experience Factor-the renewal modifier dropped from
<br /> 1,219 to 1.029 (18% decrease), impacted by one Land Use claim dropping off.
<br /> 4. The Annual Aggregate Deductible factor surcharge changed from 1.073 to 1.090
<br /> this renewal.
<br /> 5. Removing the Municipal Liability dam exclusion is still under LMCIT review.
<br /> P.O.Box 9396 + MINNEAPOLIS, N4N 55440-9396
<br /> PHONE(952) 996-8818 + ToI-L-FREE (800)676-8818 + FAx (952) 829-0482
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