5.1. SR 03-22-1999 - Laserfiche WebLink

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. .. . 15 percent co-payment. This coverage is not for corrective actions but covers claims as a result of a Y2K issue. For example, if the stop lights no longer function, the coverage would pay the extra expense of having a patrol officer direct traffic and any liability resulting from an accident that occurred as a result of the malfunctioning stop lights. The coverage would not pay for the cost of making the stop lights operational. In order to qualify for this coverage, the city needs to have met several criteria including the appointment of a Y2K coordinator, completed assessment/inventory sheets for all departments and functions, have a contingency plan including staff on duty on December 31, 1999, and have an action plan which is being reviewed on a continual basis. Once the city meets all of these requirements, it may apply for the coverage. The additional cost is estimated to be $6,445. Liauor Liabilitv and ProDertv The main discussion on Monday will be regarding the liquor liability insurance coverage at Northbound. American States Insurance Company has submitted a very competitive proposal. This company is rated as a top company by Best, an insurance resting agency. Changing to American would result in a premium savings of approximately $4,500. As you may recall, the LMCIT just recently entered the liquor liability market. After considerable research, it appears as though the American States Insurance proposal offers a similar coverage at a much reduced cost. The League is still working on a response to the reduced quote and any coverage differences. Additional information will be available on this issue on Monday. Action Reauested The City Council is asked to approve the LMCIT renewals for the period of April 1, 1999, to April 1, 2000, for the city's property liability, boiler, open meeting, petro, crime, and other coverages. The City Council is also asked to consider the liquor liability renewal. f: \shrdoc \council\insrenw I. doc