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Department Approval <br />��S�E <br />REQUEST FOR COUNCIL ACTION <br />Date.- 1/03/11 <br />Item No..- 7.e <br />Acting City Manager Approval <br />Item Description.- Consider Not Waiving Statutory Liability Limits <br />1 BACKGROUND <br />2 Minnesota Statute 466.04 states that liability of any municipality on any one claimant shall not exceed <br />3 500,000 when the claim is for death wrongful act, or omission; and shall not pay more than $,1,500,000 <br />�p �p 1 <br />4 for claims arising out of a single occurrence. <br />6 State Statute provides municipalities the opportunity to waive the individual statutory limit. By waiving the <br />"7 statutory limit, there is no limit on the settlement a claimant(s) may receive. The City's Liability Insurance <br />provider requires a formal action by the City Council designating their intentions. <br />9 POLICY OBJECTIVE <br />1 ('.); Not applicable. <br />11 FINANCIAL IMPACTS <br />12 Waiving the Statutory limits would create greater risk and carry the potential for higher insurance payouts <br />13 on claims brought against the City. <br />14 STAFF RECOMMENDATION <br />1 Staff recommends the Council NOT waive the Statutory Liability Limits. <br />16 REQUESTED COUNCIL ACTION <br />1 ��7 Motion to NOT waive the Statutory Liability Limits. <br />1 <br />Prepared by: Chris Miller., Finance Director <br />Attachments: A: N/A <br />19 <br />Page I of I <br />