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2016-02-10 CC Packet
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2016-02-10 CC Packet
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o ® <br /> LEAGUE 0 CONNECTING &INNOVATING <br /> MINNESOTA SINCE 1913 <br /> CITIES <br /> LIABILITY COVERAGE -WAIVER FORM <br /> LMCIT members purchasing coverage must complete and return this form to LMCIT before the effective date of <br /> the coverage. Please return the completed form to your underwriter or email to pstech@lmc.org <br /> This decision must be made by the member's governing body every year. You may also wish to discuss these issues with <br /> your attorney. <br /> League of Minnesota Cities Insurance Trust(LMCIT)members that obtain liability coverage from LMCIT must decide <br /> whether to waive the statutory tort liability limits to the extent of the coverage purchased. The decision has the following <br /> effects: <br /> If the member does not waive the statutory tort limits, an individual claimant would be able to recover no more than <br /> $500,000 on any claim to which the statutory tort limits apply. The total all claimants would be able to recover for a <br /> single occurrence to which the statutory tort limits apply would be limited to$1,500,000. These statutory tort limits <br /> apply regardless of whether the city purchases the optional excess liability coverage. <br /> If the member waives the statutory tort limits and does not purchase excess liability coverage, a single claimant could <br /> potentially recover up to$2,000,000 for a single occurrence. (Under this option,the tort cap liability limits are waived to <br /> the extent of the member's liability coverage limits, and the LMCIT per occurrence limit is$2 million.)The total all <br /> claimants would be able to recover for a single occurrence to which the statutory tort limits apply would also be limited <br /> to$2,000,000, regardless of the number of claimants. <br /> If the member waives the statutory tort limits and purchases excess liability coverage, a single claimant could <br /> potentially recover an amount up to the limit of the coverage purchased. The total all claimants would be able to <br /> recover for a single occurrence to which the statutory tort limits apply would also be limited to the amount of coverage <br /> purchased, regardless of the number of claimants. <br /> Claims to which the statutory municipal tort limits do not apply are not affected by this decision. <br /> i�j of CZ4,1+cruj 1142., <br /> LMCIT Member Name <br /> Check one: <br /> [ The member DOES NOT WAIVE the monetary limits on municipal tort liability established by Minnesota Statutes, <br /> Section 466.04. <br /> ❑ The member WAIVES the monetary limits on municipal tort liability established by Minnesota Statutes, Section <br /> 466.04 to the extent of the limits of the liability coverage obtained from LMCIT. <br /> Date of city council/governing body meeting <br /> Signature Position <br /> 145 UNIVERSITY AVE.WEST PHONE-(651)281-1200 FAx:(651)281-1299 <br /> ST. PAUL, MN 55103-2044 TOLL FREE.(800)92S-1122 WEB WWW.LMCORG <br /> 18 <br />
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