CCP 12-14-1998 - Laserfiche WebLink

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. . I . . . . If the city 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 which all claimants would be able to 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. Sub-limits and aggregate limits Besides the general coverage limit of $750,000, the LMCIT liability coverage includes some sub-limits and/or annual aggregate limits on liability coverage for certain specific exposures. Exposure Per occurrence limit Annual aggregate limit Products and Completed operations $750,000 $750,000 Failure to supply utilities $750,000 $750,000 Electromagnetic fields $750,000 $1,500,000 Fire damage liability $50,000 - Limited pollution * $750,000 $750,000 e Lead or asbestos * $200,000 $200,000 Land use and development litigation * $1,000,000 $1,000,000 * Legal defense costs and loss adjustment costs are included within the coverage limit for these exposures. The optional "medical payments" coverage, which provides "no-fault" coverage for medical costs for injuries' that occur on city premises, has limits of $1 OOO/claimant and $1 O,OOO/occurrence. The optional excess liability coverage Each city should regularly review and consider whether it makes sense to carry excess liability coverage for added protection on claims to which the statutory limits don't apply. The LMCIT memo on excess liability coverage discusses various reasons to consider carrying excess liability coverage. Call LMCIT for a copy of that memo if you don't have it. Questions? As always, feel free to all your underwriter or Pete Tritz or Tom Grundhoefer if you have . questions. PST - 1/13/98