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MAYOR <br />Michael I. Fahey <br />COUNCIL <br />Beverly Scaize <br />Jim LaValle <br />Steve Morelan <br />Bob Pedersen <br />515 Little Canada Road, Little Canada, MN 55117-1600 ADMINISTRATOR <br />(651) 484 -2177 / FAX: (651) 484 -4538 Joel R. Hanson <br />Email: cityhall @ci.little - canada.mn.us <br />MEMORANDUM <br />TO: Mayor Fahey & Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: October 21, 1999 <br />RE: Expanded Y2K Coverage <br />Attached is a memo from the League of Minnesota Cities indicating the available of insurance <br />coverage for Y2K exposure. Our current policy provides for the basic coverage of $5,000 per <br />person and $25,000 per occurrence. Expanded coverage would increase the limits to $750,000 <br />per incident per year including damages and defense costs. (see attached memo) There would <br />also be some co -pays if a claim was to result. Expanded coverage would cost the City about <br />$1,450 for the first year and there is a two -year minimum sign -up. <br />Subject to any comments the City Attorney may have, staff does not feel this insurance is <br />necessary. Y2K issues seem to be minimal, especially those that are related directly to the City's <br />actions. However, if the Council feels it is appropriate, we would need to make application by <br />November 1. <br />JH:kp <br />Enclosures <br />PAGE 226 <br />