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<br /> <br />Item 5.3. <br /> <br />MEMORANDUM <br /> <br />TO: Mayor and City Council <br /> <br />FROM: Lori johnson, City Administrator <br /> <br />DATE: january 9,2006 <br /> <br />SUBJECT: Excess Liability Insurance Presentation from Mary Eberley <br /> <br />When the City Council reviewed the insurance renewal with the League of Minnesota Cities <br />Insurance Trust (LMCIT) last fall, there was a brief discussion on purchasing optional excess <br />liability insurance. In the past, the city has chosen not to purchase this coverage. Insurance <br />agent, Mary Eberley mentioned the recent court case that may change liability exposure for <br />cities during her presentation of the July 1, 2005 renewal. Given this information, the <br />Council requested that this item come back for further discussion. <br /> <br />Attached is another copy of the information from LMCIT that was distributed with the <br />renewal. Ms. Eberley will walk the Council through this information and discuss the cost <br />($52,505 for 2005) of purchasing excess liability insurance so the Council is better able to <br />decide if it is an option that should be added in July, 2006, when the city's coverage is <br />renewed. The last page of the LMCIT memo provides an easy explanation of the options <br />available. The city currendy has $1,000,000 coverage across the board. <br /> <br />Action Requested <br />No action is required at the meeting; however, the Council will need to decide prior to <br />renewal if excess liability coverage will be purchased for the contract beginning July 1,2006. <br /> <br />s: \Council\Lori\2006\Excess liability. doc <br />