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100104_Packet
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100104_Packet
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Department Approval <br />��. .�: �� <br />Item Description: <br />BACKGROUND <br />���� <br />J�, <br />REQUEST FOR COUNCIL ACTION <br />Consider Not Waiving Statutory Liability Limits <br />Date: 1 /04/ 10 <br />Item No.: 7.i <br />City Manager Approval <br />� / <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 far 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 />statutary 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. <br />REQUESTED COUNCIL ACTION <br />Motion to NOT waive the Statutory Liability Limits. <br />Prepared by: Chris Miller, Finance Director <br />Attachments: A: N/A <br />Page 1 of 1 <br />
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