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"o ~~en1 umber <br />Ci Council ~~ ~ <br />enca Section ee~~n~ ~.te prea~red by <br />Administration November 1 ~, 2009 Tim Simon, Finance Director <br />~ten~ ascription eviewed by <br />Annual Insurance Renewal Lori Johnson, Cit Administrator <br />aviewad by <br />coon ~ ue~ed <br />The City Council is asked to consider renewal of the City's insurance policies with the League of <br />Minnesota Cities Insurance Trust ~LMCIT~. <br />acl~~round! iscussi~n <br />For over twenty years the City of Ells River has participated in the LMCIT. Mary Eberley of First <br />National Insurance Agency will present the July 1, 2009, LMCIT renewal, which was just received from <br />LMCIT. Coverage has been ~.~ Binder since the official July 15t renewal date even though tlae renewal <br />documents and rates were just ~.•eceived. The worl~ers' cotxapensation insurance renewal is included as <br />well; that policy renewed on Qctober 1, 2009. The policy has remained unchanged for the most part. In <br />the last renewal, we increased our deductible to $10,000 and that has been very successful. The details of <br />the proposal are outlined in the attached memo from Mary ~berley. <br />Here are a few highlights which are outlined in Mary Eberley's attached me~xao: <br />~ The City continues to receive a dividend for• participating in the LNICIT program. <br />~ Builders' Association claim no longer has an hnpact on our renewal. <br />~ The property schedule has added nearly $S.G ~x~ion. <br />® The overall .increase comes to about 3% with no change in deductible and excluding the X43,400 <br />ERMU equipment breal~down coverage the prenuum decreased 10%, <br />~ The City again has an excellent experience Modification factor of .55. <br />The City continues to be proactive in promoting safety and safety standards through the continued <br />dedication of all City employees and the Safety Co~x~.~~.ttee. These efforts result in a substantial <br />premium savings for the City. <br />~in~nciai__Ir~p~ct <br />See attached Premium Summary & Comparison -2009 worksheet <br />tt~chn~a~nts <br />® Letter from Mary Eberley -First National Insurance agency <br />~ City of Elk River Premium Summary & Comparison <br />S: \Council\Tun\2009\InsuianceRenewa109-10. doc <br />