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16 <br /> MEMORANDUM. <br /> DATE: May 15, 2000 <br /> TO: Mike Mornson, City Manager <br /> FROM: Roger Larson, Finance Director <br /> ITEM: LEAGUE OF MN CITIES INSURANCE RENEWAL <br /> Mr. Carl Bennetsen will be present at the May 23, 2000, Council Meeting to discuss, answer <br /> questions and finalize insurance coverage for June 1, 2000 - May 31, 2001. <br /> The attached information includes price quotations for property, auto, general liability, and <br /> workers' compensation. The cost for maintaining our present coverage of $10,000 deductible <br /> and $50,000 aggregate through the League of Minnesota Cities totals $143,819. <br /> • This amount represents an increase.in premiums of$8,947,which is primarily due to increases in <br /> automobile and workers' compensation premiums. <br /> As in previous years, no other insurance companies chose to compete with the League of <br /> Minnesota Cities Insurance Trust. Last years coverage is primarily duplicated, however, the <br /> League made enhancements to the policy, which Mr. Bennetsen is prepared to review with <br /> Council. <br /> Workers' compensation costs continue to be a concern for all Minnesota businesses. The <br /> increase in the work-comp premium is due to an increase in St. Anthony's experience <br /> modification (1.10 to 1.28) which is directly related to workers compensation claims. <br /> To help rehabilitate employees in a timely manner, St. Anthony adopted a Managed Care Plan <br /> where employees who are injured on the job are assigned to a specific clinic for rehabilitation of <br /> their injury. <br /> This results in a 5% reduction in workers' comp premiums and assists the employee with <br /> developing a medical plan and treatment schedule. <br /> Also, because Y2K was basically a non-event, the League of Minnesota Cities has waived the <br /> premiums for Y2K this year, however, the insurance coverage remains in effect. <br /> • <br />