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LIABILITY COVERAGE – WAIVER FORM <br /> <br />LMCIT members purchasing coverage must complete and return this form to LMCIT before the effective date of <br />the coverage. Please return the completed form to your underwriter or email to pstech@lmc.org <br /> <br />This decision must be made by the member’s governing body every year. You may also wish to discuss these issues with <br />your attorney. <br /> <br /> <br />League of Minnesota Cities Insurance Trust (LMCIT) members that obtain liability coverage from LMCIT must decide <br />whether to waive the statutory tort liability limits to the extent of the coverage purchased. The decision has the following <br />effects: <br /> <br /> If the member does not waive the statutory tort limits, an individual claimant would be able to recover no more than <br />$500,000 on any claim to which the statutory tort limits apply. The total all claimants would be able to recover for a <br />single occurrence to which the statutory tort limits apply would be limited to $1,500,000. These statutory tort limits <br />apply regardless of whether the city purchases the optional excess liability coverage. <br /> <br /> If the member waives the statutory tort limits and does not purchase excess liability coverage, a single claimant could <br />potentially recover up to $2,000,000 for a single occurrence. (Under this option, the tort cap liability limits are waived to <br />the extent of the member’s liability coverage limits, and the LMCIT per occ urrence limit is $2 million.) The total all <br />claimants would be able to recover for a single occurrence to which the statutory tort limits apply would also be limited <br />to $2,000,000, regardless of the number of claimants. <br /> <br /> If the member waives the statutory tort limits and purchases excess liability coverage, a single claimant could <br />potentially recover an amount up to the limit of the coverage purchased. The total all claimants would be able to <br />recover for a single occurrence to which the statutory tort limits apply would also be limited to the amount of coverage <br />purchased, regardless of the number of claimants. <br /> <br />Claims to which the statutory municipal tort limits do not apply are not affected by this decision. <br /> <br /> <br /> <br />LMCIT Member Name <br /> <br />Check one: <br /> The member DOES NOT WAIVE the monetary limits on municipal tort liability established by Minnesota Statutes , <br />Section 466.04. <br /> <br /> The member WAIVES the monetary limits on municipal tort liability established by Minnesota Statutes, Section <br />466.04 to the extent of the limits of the liability coverage obtained from LMCIT. <br /> <br />Date of city council/governing body meeting <br /> <br />Signature Position <br />17