2.4. ERMUSR 05-10-2016 - Laserfiche WebLink

Home Browse Search

Second, it's increasingly more common to see contracts require more than the statutory limit of$1.5 million; a more common figure is $2 million. LMCIT's higher limit meets this requirement,but if even higher limits are required, See Section 11.113, there is the option to carry LMCIT's excess liability coverage to meet the Purchasing higher liability additional requirements. In some cases LMCIT, in partnership with its limits. reinsurers, can also issue an endorsement to increase the city's coverage limit only for claims relating to a particular contract. In addition to the LMCIT coverage limit of$2 million per occurrence, there are annual aggregate limits (that is, limits on the total amount of coverage for the year regardless of the number of claims), for certain specific risks. Aggregate limits apply claims arising out of the following: • Products $3 million annually • Failure to supply utilities $3 million annually See Section III.B,Data Data securitybreaches $3 million annually breach and • computer-related risks. • Electromagnetic fields $3 million annually See Section III.J,Land use • Limited contamination $3 million annually and special risk litigation. • Land use/special risk litigation $1 million annually See Section III.D, • Activities in outside organizations $100,000 annually Employees'activities in outside organizations. Failure to supply utilities applies to the failure to supply water, electricity, gas, or steam service. It also applies to damages arising out of the failure to supply phone and internet or other electronic data transmission services. Limited contamination includes the sudden and accidental release of pollutants;herbicide and pesticide applications; sewer ruptures, overflows, and backups; lead and asbestos claims; mold claims; organic pathogen claims; hostile fire claims; and excavation and dredging claims. Excavation and dredging claims are subject to an annual$250,000 sublimit. These limits apply to both damages and defense costs. See Section rII.J,Land use Land use litigation coverage is provided on a sliding scale percentage basis, and special risk litigation. which is based on participation in LMCIT's online land use training. Land Use Incentive Coverage applies to both damages and litigation costs. Program. 2. Statutory liability limits Minn.Stat.§466.04. The statutory municipal tort cap is limited to a maximum of$500,000 per claimant and$1.5 million per occurrence. These limits apply whether the claim is against the city, against the individual officer or employee, or against both. The LMCIT liability coverage provides a standard limit of$2 million per occurrence. 59