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2012_1203_packet
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2012_1203_packet
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5/12/2014 12:41:20 PM
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Department Approval <br />�. � � <br />Item Description: <br />BACKGROUND <br />t�i � <br />� <br />REQUEST FOR COUNCIL ACTION <br />Date: 12/03/12 <br />Item No.: 7.e <br />City Manager Approval <br />Consider Not Waiving Statutory Liability Limits for 2013 <br />Minnesota Statute 466.04 states that liability of any municipality on any one claimant shall not exceed <br />$500,000 when the claim is for death, wrongful act, or omission; and shall not pay more than $1,500,000 <br />for claims arising out of a single occurrence. <br />State Statute provides municipalities the opportunity to waive the individual statutory limit. By waiving the <br />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 />POLICY OBJECTIVE <br />Not applicable. <br />FINANCIAL IMPACTS <br />Waiving the Statutory limits would create greater risk and carry the potential for higher insurance payouts <br />on claims brought against the City. <br />STAFF RECOMMENDATION <br />Staff recommends the Council NOT waive the Statutory Liability Limits for 2013 <br />REQUESTED COUNCIL ACTION <br />Motion to NOT waive the Statutory Liability Limits for 2013. <br />Prepared by: Chris Miller, Finance Director <br />Attachments: A: N/A <br />Page 1 of 1 <br />
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