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able to recover for a single occurrence to which the statutory tort limits apply would be limited to <br />$1,500,000. <br /> <br />If Council waives the statutory tort limits and does not purchase excess liability coverage, a single claimant <br />could potentially recover up to $2,000,000 for a single occurrence. <br /> <br />OPTIONS: <br /> <br />Liability Coverage – Waiver Form: <br />1) Waive statutory municipal tort limits <br />2) Do not waive statutory municipal tort limits <br /> <br />Property/Liability Deductible: <br />1) Maintain current deductible for property/liability coverage <br />2) Increase deductible for property/liability coverage <br />3) Decrease deductible for property/liability coverage <br /> <br />RECOMMENDATION: <br /> <br />“Move to approve maintaining the current $1,000 deductible for the City’s property and liability <br />insurance, and authorize election to not waive the statutory tort limits.” <br /> <br />ATTACHMENTS: <br />• LMCIT’s Liability Coverage – Waiver Form