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Recommendation: <br />Staff recommends Council pass Resolution 407-044 approving renewal of insurance coverage <br />through the League of Minnesota Cities at a cost of $202,368 and waiving the statutory limits <br />of tort liability. <br />Insurance Renewal: <br />3.1% Increase <br />*Liquor Off -Sale: <br />(Combined - Market Place and Silver Lake Village Premium) <br />Increase <br />2007/08 <br />2006107(Decrease) <br />Property <br />$23,223 <br />$189674 <br />$ 4,549 <br />Inland Marine <br />$ 49183 <br />$ 31531 <br />$ 652 <br />Equipment Breakdown <br />$ 39347 <br />$ 29861 <br />$ 486 <br />General/Liability <br />$ 39,749 <br />$ 399065 <br />$ 684 <br />No Fault/Sewer Backup <br />$ 39379 <br />$ 39335 <br />$ 44 <br />*Liquor Liability — Off Sale <br />$11,300 <br />$ 13,050 <br />($ 1,750) <br />Automobile <br />$ 199495 <br />$ 20,166 <br />($ 671) <br />Fidelity/Employee Dishonesty <br />$ 900 <br />$ 800 <br />$ 100 <br />Open Meeting Law <br />$ 573 <br />$ 563 <br />$ 10 <br />Workers' Comp <br />$ 95,058 <br />$ 92,919 <br />$ 2,139 <br />Volunteers <br />$ 1,161 <br />$ 1,161 <br />$ -0- <br />0 -TOTAL <br />TOTAL LMCIT <br />$2029368 <br />$1969125 <br />$ 6,243 <br />3.1% Increase <br />*Liquor Off -Sale: <br />(Combined - Market Place and Silver Lake Village Premium) <br />