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<br /> LEAGUE OF CONNECTING&INNOVATING
<br /> MINNESOTA SINCE 1913
<br /> CITIES
<br /> July 6,2017
<br /> NCI-BIB LLC
<br /> Northern Capital Insurance Group Covered Party: Elk River Municipal Utilities
<br /> 7825 Washington Avenue S.
<br /> Suite 600 Effective Date: 7/1/2017
<br /> P.O.Box 9396
<br /> Minneapolis,MN 55440-9396
<br /> RENEWAL PREMIUM SUMMARY
<br /> Common Coverages
<br /> Coverage Deductible Premium
<br /> • Property $ 20,000/40,000/1,000. $30,179.
<br /> • Mobile Property 20,000/40,000/1,000. 1,208.
<br /> • Municipal Liability 20,000/40,000/1,000. 21,110.
<br /> • Automobile Liability 20,000/40,000/1,000. 2,897.
<br /> • UM/UIM$200,000 all owned autos 20,000/40,000/1,000. Included.
<br /> • Basic Economic Loss Benefits(PIP)all owned autos 20,000/40,000/1,000. Included.
<br /> • Automobile Physical Damage 20,000/40,000/1,000. 4,096.
<br /> • Crime 20,000/40,000/1,000. Included.
<br /> • Petrofund NA. Included.
<br /> • Defense Cost Reimbursement NA. Included.
<br /> Experience Factor Modifier: 0.873 Aggregate Factor Modifier: L014
<br /> Expiring Experience Factor Modifier. 0.863
<br /> (Applied to Municipal Liability,Auto Liability,and UM/UIM)The modifier is calculated with a formula which compares the city's actual loss history with the amount of losses that would
<br /> be expected for a city of that size if the city were a perfectly average LMCIT member.If the city's losses and expenses are better than average the city receives a premium credit.If the
<br /> city's losses and expenses are worse than average,the city receives a premium debit.
<br /> Optional Coverages
<br /> Coverage Deductible Premium
<br /> • Bond $500,000. 20,000/40,000/1,000. 668.
<br /> • Equipment Breakdown 20,000. 54,964.
<br /> • Excess Liability Limit: $ NA. Not Covered.
<br /> • Liquor Liability Limit: $ NA. Not Covered.
<br /> • Fireworks Not Covered.
<br /> • No Fault Sewer Back Up Limit: $ Not Covered.
<br /> • Airport Liability Not Covered.
<br /> TOTAL: $115,122.
<br /> DO NOT PAY UNTIL YOU RECEIVE INVOICES
<br /> TORT LIMIT: $500,000/$1,500,000
<br /> LEAGUE OF MINNESOTA CITIES 145 UNIVERSITY AVE.WEST PHONE:(651)2814200 FAX(651)281-1298
<br /> INSURANCE TRUST it PAUL MN 55103-2044 TOLL FREE:(800)925-1122 WEB:WWW.LMCORG
<br /> Comments: If the expiring covenant includes additional interests(mortgagee,loss payee,additional insured)you will find a
<br /> schedule of those interests included with the Premium Breakdown. Please review,update and return to your LMCIT Underwriter.
<br /> Optional Coverage Quotes
<br /> Coverage Deductible Approximate Premium
<br /> Excess Liability Quote: Limit: $1,000,000 $7,597.
<br /> Optional coverage(s)are not bound unless the covered party has requested that coverage be bound and LMCIT has sent a
<br /> written confirmation.Optional coverage quotes are valid for 30 days after the date of this letter.
<br /> PREMSUMXM(11/11) 159
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