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12 <br />As in previous years, no other insurance companies contacted the City or our designated agent, <br />expressing interest to compete with the League of Minnesota Cities Insurance Trust. It should be <br />noted that the costs of the premiums are within the amount budgeted in 2010 and with premiums <br />remaining stable it will help balance the 2011 operating budget. <br />Recommendation: <br />Staff recommends Council pass Resolution #10-035 approving renewal of insurance coverage <br />through the League of Minnesota Cities at a cost of $207,648 and waiving the statutory limits <br />of tort liability. <br />Insurance Renewal: <br />Property <br />Inland Marine <br />Equipment Breakdown <br />General/Municipal Liability <br />No Fault/Sewer Backup <br />*Liquor Liability — Off Sale <br />Automobile <br />Fidelity/Employee Dishonesty <br />Open Meeting Law** <br />Workers' Comp <br />Volunteers <br />TOTAL LMCIT <br />Increase <br />2010/11 2009/10(Decrease) <br />$ 30,201 $ 25,767 $ 4,434 <br />$ 4,512 <br />$ 3,249 <br />$ 39,064 <br />$ 3,318 <br />$ 10,144 <br />$14,594 <br />$ 918 <br />$ -0- <br />$100,661 <br />$ 987 <br />$207,648 <br />$ 4,426 <br />$ 3,119 <br />$ 43,125 <br />$ 3,667 <br />$ 10,937 <br />$16,077 <br />$ 917 <br />$ 509 <br />$ 98,887 <br />$ 1,161 <br />$208,592 <br />$ 86 <br />$ 130 <br />($49061) <br />($ 349) <br />($ 793) <br />($1,483) <br />$ 1 <br />($ 509) <br />$ 1,774 <br />($ 174) <br />($ 944) <br />(0.45%) Decrease <br />*Liquor Off -Sale: <br />(Combined - Market Place and Silver Lake Village Premium), <br />**League - Merged Cost into General/Municipal Liability Premiums. <br />