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April 14, 1983 <br />Page 2 <br />Based upon the Home Insurance Companies' proposal, our insurance <br />costs for 1983 should be under budget. <br />Allowance Estimated <br />1982 <br />1983 <br />1983 <br />for <br />over <br />Actual <br />Budget <br />Proposed <br />Additional <br />(under) <br />Cost <br />Premiums <br />Premiums <br />Budget <br />Property <br />Casualty <br />Liability <br />Coverages <br />$18,404 <br />$25,000 <br />$13,672 <br />$ 2,500 <br />($8,828) <br />Workman's <br />Compensation <br />$27,950 <br />$26,884 <br />$17,096 <br />$ 5,000 <br />($4,788) <br />Coverages proposed are approximately the same except for the LMCIT <br />proposal for Public Officials Liability Coverage. Their proposal was <br />for a maximum coverage of $500,000. The Home Insurance Companies <br />proposal is for $1,000,000. I recommend that the Council purchase <br />insurance from the Home Insurance Companies through Michael Hadtrath, <br />Agent. <br />Should you have any questions do not hesitate to contact me. <br />DB/ds <br />11 <br />