CC MINUTES 11061979 - Laserfiche WebLink

Home Browse Search

CITY OF ST. ANTHONY COUNCIL MINUTES SPECIAL MEETING November 6 , 1979 The meeting was called to order at 8:05 p.m. by Mayor Haik. Present : Haik, Letourneau, Ranallo, and Sundland. Absent: Sauer. Also present: Fornell, City Manager. City Manager Fornell explained the liquor operation insurance proposals , recent profit trends and claims filed under the Dram Shop Act. Proposals for insurance were received from Alexander and Alexander and North Star Brokers , Inc ./I .M. I . Agency, Inc . Fornell explained the Dram Shop proposals of Fred S . James under the association' s captive insurance carrier. It was noted that the flat rate premium was not competitive and there was consider- able risk in the co-insurance plan in terms of final, net premium. Councilman Ranallo asked questions about losses , reserves and claims paid. Loss control was emphasized by all. • After Council discussion of the merits and costs of the proposals , the following motion was offered : Motion by Sundland and seconded by Haik to accept the North Star Brokers, Inc. proposal in the sum of $12 , 631 for miscellaneous liquor operation insurance coverages. It was noted that this proposal offered better coverage than the Alexander and Alexander, Inc. proposal at $15 , 147. Motion carried unanimously. Motion by Sundland and seconded by Haik to accept the I .M.I . Agency, Inc . liquor liability insurance proposal at limits of $250 ,000/ $500, 000 in the sum of a total of $51, 637 for both stores. It was noted that this was subject to audit per actual sales and was a more advantageous proposal than the Fred S . James proposal for $500 , 000 C.S.L. coverage at $78, 381 or the co-insurance proposal with a 50 percent base premium; 150 percent maximum premium, 80 percent co-insurance and base premium of $60, 361. Motion carried unanimously. Motion by Ranallo and seconded by Sundland to recess at 8 :40 p.m. , pending election tabulation.