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REQUEST FOR COUNCIL ACTION <br /> Date: 12/08/2014 <br /> Item No.: 7.d <br />Department Approval City Manager Approval <br />Item Description: Consider Not Waiving Statutory Liability Limits for 2015 <br />B <br />ACKGROUND <br />1 <br />Minnesota Statute 466.04 states that liability of any municipality on any one claimant shall not exceed <br />2 <br />$500,000 when the claim is for death, wrongful act, or omission; and shall not pay more than $1,500,000 <br />3 <br />for claims arising out of a single occurrence. <br />4 <br />5 <br />State Statute provides municipalities the opportunity to waive the individual statutory limit. By waiving the <br />6 <br />statutory limit, there is no limit on the settlement a claimant(s) may receive. The City’s Liability Insurance <br />7 <br />provider requires a formal action by the City Council designating their intentions. <br />8 <br />PO <br />OLICYBJECTIVE <br />9 <br />Not applicable. <br />10 <br />FI <br />INANCIALMPACTS <br />11 <br />Waiving the statutory limits would create greater risk and carry the potential for higher insurance payouts <br />12 <br />on claims brought against the City. <br />13 <br />SR <br />TAFF ECOMMENDATION <br />14 <br />Staff recommends the Council NOT waive the Statutory Liability Limits for 2015. <br />15 <br />RCA <br />EQUESTEDOUNCILCTION <br />16 <br />Motion to NOT waive the Statutory Liability Limits for 2015. <br />17 <br />18 <br />Prepared by: Chris Miller, Finance Director <br />Attachments: A: N/A <br />19 <br />Page 1 of 1 <br /> <br />