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<br />Item No: 8.D. <br />Meeting Date: April 12, 2009 <br />Type of Business: Council Consent <br />Administrator Review: _____ <br />City of Mounds View Staff Report <br />To: Honorable Mayor and City Council <br />From: Mark Beer, Finance Director <br />Item Title/Subject: Resolution 7604 Authorizing Insurance Policies for the Year <br />January 2010 through December 2010. <br /> <br /> <br />The attached Resolution 7604 authorizes staff to purchase insurance policies with the <br />League of Minnesota Cities Insurance Trust and Chubb Insurance and to make payment of <br />the premiums as they become due. <br /> <br />The January 1 renewal date has delayed receipt of our policy from the League of Minnesota <br />Cities Insurance Trust as there are a number of cities with the same date. The League has a <br />difficult time processing that many applications. The cost of our property and liability policy <br />decreased by $9,137 as a result of reduced rates and adjusted property values. <br /> <br />The premium for workers’ compensation has increased by $11,849 in 2010. This is the result <br />of an increased experience modifier. We continue to receive non-smoking rates for the <br />police department as they continue to be 90% smoke free. The overall affect will be an <br />increase of $2,712 over 2009. <br /> <br />The LMCIT now includes Open Meeting Law coverage as part of the Comprehensive <br />Municipal Coverage and not as separate coverage. <br /> <br />Staff recommends approval of resolution 7604 authorizing the purchase of insurance policies <br />for the year January 1, 2010 through December 31, 2010. <br /> <br /> <br />Respectfully submitted, <br /> <br /> <br />___________________________ <br />Mark Beer <br />