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©MT OF REQUEST FOR COUNCIL CONSIDERATION Agenda Section 2. -_ <br /> (T <br /> WS STAFF REPORT Report Number: 96-174S <br /> ©MS Report Date: 5/29/96 <br /> WORKSESSION MEETING DATE <br /> 4110 1,. <br /> MN 1 June 03, 1996 <br /> o4'res,-Partners' <br /> Item Description: Presentation of Proposal by League of Minnesota Cities Insurance Trust for Renewal of <br /> Insurance Coverages for 1996-1997 <br /> Administrator's Review/Recommendation: <br /> -No Comments to supplement this report Review/Recommendation:„.„ <br /> -Comments attached. <br /> Explanation/Summary(attach supplement sheets as necessary) <br /> Summary: <br /> Enclosed please find the City's quotation on the July 1, 1996 renewals of insurance coverages from the <br /> League of Minnesota Cities Insurance Trust(LMCIT). Charles Clysdale, of the Maguire Agency, Inc., will <br /> be at the June 03, 1996 Council Work Session to present and review the quotation with you. <br /> The 1996 renewal quotation is presented on the sheet entitled"Premium Comparison." The quotation is <br /> below the $104,410 budgeted in 1996 for various insurance coverages. The information on workers <br /> compensation insurance shows that many of the rates have been reduced for 1996. The City's experience <br /> odification has been increased to .81 from.72 the City is taking advantage'of Managed Care With the <br /> League, and has received a premium discount; these factors combine to give the City a discount of 33.8%. <br /> The 1996 proposed workers compensation premium of$32,283 is $5,165 less that the 1995 premium of <br /> $37,448. • . <br /> ilkE. /ta�rek Interim Finance <br /> ary `�'� Coordinator <br />