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11-14-2001 Council Agenda
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11-14-2001 Council Agenda
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JCT -17 -2001 10'18 <br />AMERICAN AGENCY 612 593 8733 P.02/07 <br />LMCIT LIABILITY COVERAGE - WAIVER FORM <br />Cities obtaining Liability coverage from the League of Minnesota Cities Insurance Trust must decide <br />whether or not to waive the statutory tort liability limits to the extent of the coverage purchased. The <br />decision to waive or not to waive the statutory limits has the following effects: <br />If the city does not waive the statutory tort limits, an individual claimant would be able to recover no <br />more than $300,000.on any claim to which the statutory tort limits apply. The total which all claimants <br />would be able to recover for a single occurrence to which the statutory tort limits apply would be limited <br />to $1,000,000. These statutory tort limits would apply regardless of whether or not the city purchases <br />the optional excess liability coverage. <br />If the city waives the statutory tort limits and does not purchase excess liability coverage, a single <br />claimant could potentially recover up to $1,000,000. on a single occurrence. The total which all <br />claimants would be able to recover for a single occurrence to which the statutory tort limits apply would <br />also be limited to $1,000,000., regardless of the number of claimants. <br />If the city 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 which all <br />claimants would be able to recover for a single occurrence to which the statutory tort limits apply would <br />also be limited to the amount of coverage purchased, regardless of the number of claimants. <br />Claims to which the statutory municipal tort limits do not apply are not affected by this decision. <br />This decision must be made by the city council. Cities purchasing coverage must complete and return <br />this form to LMCIT before the effective date of the coverage. For further information, contact LMCIT. <br />You may also wish to discuss these issues with your city attorney, <br />The City of accepts liability coverage hunts of $ from the League of <br />Minnesota Cities Insurance.Trust (LMCF1). <br />Check one: <br />The city DOES NOT WAIVE the monetary limits on municipal tort liability established <br />by Minnesota Statutes 466.04. <br />The city WAIVES the monetary limits on tort liability established by Minnesota Statutes <br />466.04, to the extent of the limits of the liability coverage obtained from LMCIT. <br />Date of city council meeting <br />Signature Position <br />Return this completed form to LMCIT, .145 University Ave. W., 5t. Paul, MN. 55103 -2044 <br />Page 1 of' 1 <br />Page 34 <br />
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