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6) <br /> <br />more detailed discussion of this matter, the League has a discussion paper in its <br />web site LMCIT Library entitled "LMCIT Liability Coverage Options". <br />Cost for $1,000,000 Excess - $ 50,354 <br />Cost for $2,000,000 Excess - $76,354 <br />These premiums would change only moderately with a decision to change to <br />$2,500 Deductible. <br /> <br />Recommendation: <br />Council policy decision. No specific recommendation. <br /> <br />No-Fault Sewer Back-Up Coverage <br />I did not have complete information with me at the recent Council Meeting, so <br />will list the highlights of coverage - <br />-$10,000 Limit of Coverage per Building per year <br />-City's Deductible does apply <br />-Damage must result from a condition of the City's system - problems in the <br /> Homeowner's line between the home & the city's line may not be covered. <br />-Catastrophic events where FEMA assistance would be available would generally <br /> not be covered. Extended power outages resulting in damage may not be <br /> covered. <br /> -Coverage is considered "excess" of any other that may be available such as the <br /> home owner's Homeowners policy. <br />-Discussion paper is available in the LMCIT Library for additional information. <br /> <br />Recommendation: <br />The approximate cost if 8.5% of the municipal liability premium, or $12,775 at <br />the $1,000 Deductible level, and approximately $12,100 at the $2,500 Deductible <br />level. In your recollection, the City had only two claims where the coverage may <br />have applied. I saw nothing in the comprehensive claims history for the City that <br />indicated otherwise. I do not believe this Option is cost effective at this time, and <br />would have to recommend rejection of this Option. <br /> <br />I will not be able to attend the Council Meeting scheduled for early September, but could <br />attend at a later time, or in workshop, if the Council Members wish to discuss any of <br />these options. If they make their decision at the September meeting, please let me know, <br />or fax me a copy of the minutes, and I will get the changes completed. And if you have <br />any further questions about any of these options, Lori, just drop me an e-mail, or call. <br />Hope this summary will help. Thank you - <br /> <br />Mary Eberley, CPCU <br />Agent <br /> <br /> <br />