Laserfiche WebLink
LIABILITY COVERAGE – WAIVER FORM <br /> <br /> <br />Members who obtain liability coverage through the League of Minnesota Cities Insurance Trust <br />(LMCIT) must complete and return this form to LMCIT before the member’s effective date of <br />coverage. Return completed form to your underwriter or email to pstech@lmc.org. <br />The decision to waive or not waive the statutory tort limits must be made annually by the <br />member’s governing body, in consultation with its attorney if necessary. <br /> <br />Members who obtain liability coverage from LMCIT must decide whether to waive the statutory tort <br />liability limits to the extent of the coverage purchased. The decision has the following effects: <br /> <br /> If the member does not waive the statutory tort limits, an individual claimant could recover no more <br />than $500,000 on any claim to which the statutory tort limits apply. The total all claimants could <br />recover for a single occurrence to which the statutory tort limits apply would be limited to $1,500,000. <br />These statutory tort limits would apply regardless of whether the member purchases the optional <br />LMCIT excess liability coverage. <br /> <br /> <br /> If the member waives the statutory tort limits and does not purchase excess liability coverage, a single <br />claimant could recover up to $2,000,000 for a single occurrence (under the waive option, the tort cap <br />liability limits are only waived to the extent of the member’s liability coverage limits, and the LMCIT <br />per occurrence limit is $2,000,000). The total all claimants could recover for a single occurrence to <br />which the statutory tort limits apply would also be limited to $2,000,000, regardless of the number of <br />claimants. <br /> <br /> <br /> If the member waives the statutory tort limits and purchases excess liability coverage, a single claimant <br />could potentially recover an amount up to the limit of the coverage purchased. The total all claimants <br />could recover for a single occurrence to which the statutory tort limits apply would also be limited to <br />the amount of coverage purchased, regardless of the number of claimants. <br /> <br /> <br />Claims to which the statutory municipal tort limits do not apply are not affected by this decision. <br /> <br />48 <br />