Laserfiche WebLink
<br />Item No: 8.B. <br />Meeting Date: April 14, 2008 <br />Type of Business: Council Consent <br />Administrator Review: _____ <br />City of Mounds View Staff Report <br /> <br /> <br /> <br />To: Honorable Mayor and City Council <br />From: Mark Beer, Finance Director <br />Item Title/Subject: Resolution 7251 Authorizing Insurance Policies for the Year <br />January 1, 2008 through December 31, 2008 <br /> <br /> <br />The attached Resolution 7251 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 switch to a January 1 renewal date has delayed receipt of our policy from the League of <br />Minnesota Cities Insurance Trust as there are a number of cities with the same date. The <br />League has a difficult time processing that many applications. The cost of our property and <br />liability policy increased by $1,677 as a result of increased rates and new buildings. Our <br />workers’ comp premium declined by $6,701 as a result of receiving non-smoking rates for <br />the police department and a lower experience modifier for the City as a whole. The overall <br />affect will be a decrease of $5,059 over 2007. <br /> <br />Staff recommends approval of resolution 7251 authorizing the purchase of insurance policies <br />for the year January 1, 2008 through December 31, 2008. <br /> <br /> <br />Respectfully submitted, <br /> <br /> <br />___________________________ <br />Mark Beer <br />