HomeMy WebLinkAboutRES 22-032 RENEWAL OF MUNICIPAL INSURANCE COVERAGE AND THE NON WAIVER OF TORT LIABILITY LIMITS FOR THE LEAGUE OF MN CITIES INSURANCE PROGRAMCITY OF ST. ANTHONY VILLAGE
STATE OF MINNESOTA
RESOLUTION 22-032
A RESOLUTION REGARDING RENEWAL OF MUNICIPAL INSURANCE COVERAGE
AND THE NON WAIVER OF TORT LIABILITY LIMITS FOR THE LEAGUE OF
MINNESOTA CITIES INSURANCE PROGRAM.
WHEREAS, the City Council of the City of St. Anthony hereby approves participation in the
League of Minnesota Cities Insurance Trust (LMCIT) insurance program for the
year 2022 through 2023; and
WHEREAS, the City has elected to purchase excess coverage in the amount of $1,000,000.00.
WHEREAS, the City DOES NOT WAIVE the monetary limits on municipal tort liability
established by Minnesota Statutes, Section 466.04.
BE IT RESOLVED, that the City Council of the City of St. Anthony hereby approves the renewal
of insurance coverage through the League of Minnesota Cities for the policy period of June 1, 2022
to May 31, 2023.
THEREFORE, BE IT FURTHER RESOLVED, that the City Council of the City of St. Anthony
hereby does not waive the monetary limits on tort liability established by MN statute 466.04, Subd.
7, to the extent of the limits of the liability coverage obtained from the LMCIT for the policy period
of June 1, 2022 to May 31, 2023.
Adopted this 12th day of April, 2022.
ATTEST:
Ci Clerk
Review for Administration:
Charlie Yunker, City Manager
LACLEAGUE
MINNESOTA
CITIES
LIABILITY COVERAGE —WAIVER FORM
Members who obtain liability coverage through the League of Minnesota Cities Insurance Trust
(LMCIT) must complete and return this form to LMCIT before the member's effective date of
coverage. Return completed form to your underwriter or email to gstechkjmcore.
The decision to waive or not waive the statutory tort limits must be made annually by the
member's governing body, in consultation with its attorney if necessary.
Members who obtain liability coverage from LMCIT must decide whether to waive the statutory tort
liability limits to the extent of the coverage purchased. The decision has the following effects:
• If the member does not waive the statutory tort limits, an individual claimant could recover no more
than $500,000 on any claim to which the statutory tort limits apply. The total all claimants could
recover for a single occurrence to which the statutory tort limits apply would be limited to $1,500,000,
These statutory tort limits would apply regardless of whether the member purchases the optional
LMCIT excess liability coverage.
ff the member waives the statutory tort limits and does not purchase excess liability coverage, a single
claimant could recover up to $2,000,000 for a single occurrence (under the waive option, the tort cap
liability limits are only waived to the extent of the member's liability coverage limits, and the LMCIT
per occurrence limit is $2,000,000). The total all claimants could recover for a single occurrence to
which the statutory tort limits apply would also be limited to $2,000,000, regardless of the number of
claimants.
• If the member waives the statutory tort limits and purchases excess liability coverage, a single claimant
could potentially recover an amount up to the limit of the coverage purchased. The total all claimants
could recover for a single occurrence to which the statutory tort limits apply would also be limited to
the amount of coverage purchased, regardless of the number of claimants.
Claims to which the statutory municipal tort limits do not apply are not affected by this decision.
LEAGUE OF MINNESOTA CITIES 145 University Avenue West n. (651) 281-1200 Fx: (651) 281.1298
INSURANCE TRUST St. Paul. Minnesota 55103 (800) 925-1122 www.imc.org
LMCIT Member Name: City of St. Anthony Village
/l Check one:
�/ IThe member DOES NOT WAIVE the monetary limits on municipal tort liability established by Minn.
`'Slat. § 466.04.
The member WAIVES the monetary limits on municipal tort liability established by Minn. Stat.
466.04, to the extent of the limits of the liability coverage obtained from LMCIT.
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Date of member's governing body meeting: /�(� / nn // n �- /o
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