Laserfiche WebLink
It.should be noted that premiums for no changes in existing coverage exceed budget dollars by <br /> $10,000. Alternatives to the current coverage could balance the budget dollars and save $30,181 <br /> in premiums paid in 93/94. y <br /> Those changes include: <br /> 1) Workers Compensation <br /> A. Managed Care Plan where employees who are injured on the <br /> job are assigned to a specific clinic for rehabilitation of <br /> their injury. This produces a 5% reduction in workers comp <br /> premiums totaling $5,459. <br /> B. $500 deductible per claim for medical costs only. This <br /> .provides a 4% savings totaling $4,827. <br /> 2) Liquor Liability <br /> A. Decrease liquor liability limit to $300,000 (presently <br /> • $500,000). This reflects a reduction of$20,765 in premiums. <br /> Recommendation: <br /> Staff recommends Council accept the League of Minnesota Cities insurance proposal which <br /> includes $10,000 Per Occurrence/$50,000 Aggregate. Also, staff recommends alternative <br /> coverage for workers compensation and liquor liability which reflects a $30,181 reduction <br /> in proposed premiums. <br /> This recommendation balances the budgeted dollars and costs will be maintained at the <br /> same level as the previous year. Any liability caused by these changes would be funded <br /> from insurance reserves which now total $200,883. <br /> • <br />