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MEMORANDUM <br />DATE: April 30, 1997 <br />TO: Mike Morrison, City Manager <br />FROM: Roger Larson, Finance Director <br />ITEM: LEAGUE OF MN CITIES INSURANCE RENEWAL <br />Mr. Mark Flaten of American Risk Services will be present at the May 6, 1997, Council Work <br />Session to discuss and finalize insurance coverage for June 1, 1997 - May 31, 1998. <br />The attached information includes price quotations for property, auto, general liability, workers' <br />compensation and liquor liability. The cost for maintaining our present coverage of $10,000 <br />deductible and $50,000 aggregate totals $167,07 5. <br />This amount represents a decrease in premiums of ($18,226) which is primarily due to decreases <br />in general liability and workers' comp premiums and the removal of Apache Wells from the <br />policy. <br />The lowest premium for On -Sale and Off -Sale liability coverage is being offered by Lexington <br />Insurance Company who insured last years liquor liability coverage. This company has A + +15 <br />financial rating which is the highest rating any insurance company can receive. <br />Workers' compensation costs continue to be a concern for all Minnesota businesses. To help <br />rehabilitate employees in a timely manner, St. Anthony adopted a Managed Care Plan where <br />employees who are injured on the job are assigned to a specific clinic for rehabilitation of their <br />injury. <br />This results in a 10% reduction in workers' comp premiums and assists the employee with <br />developing a medical plan and treatment schedule. <br />As in previous years, no other insurance companies choose to compete with the League of <br />Minnesota Cities Insurance Trust. Last years coverage is primarily duplicated and a cost <br />breakdown is attached for Councils' review. <br />