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Accept Tort Liability Insurance Limitst�0 /OE /b l gbnoagl SO/ L/Z L aeaA ueld aq} aoj 000'000'L$/000'000'L$ Jo a6eaanoo aqj anu!}uoo am legl 6uipuawwooaa `juellnsuoo juawabeuew � s!a ino `uosJaIad ue(l wog} a9}491 a sl p9goe:4e osly •96eJanoo sigl, jo uollnl!}sui aql aol 11oW� of uan}aa II!M GM pue U 0 aneg uaq} ll!M.aoAeW aqj Iegj wJOJ e s! pagoeJIy 'a6eaano0 aag6!q s, I lon eqj }deooe of pue sl!w!l Al.!l!gell laol AaoInjels aqj an!eM o uolIoe aql axle} Allenuue of seg I!ouno:D Aj!o eql •suazll!o sl! `Alale.wil.ln pue gasp joaloid of Al!o aqj Aq }ueds Item Aauow si wnlwaid leuo!l!ppe eqj legl s! 6u!leal aqj `6uigol!ms ul •wlelo lensnun ao juap!ooe snoiaas a 10 Juana aqj u! 119sl! 6u!loaload aa:49q s! .Al!o aql ` „a6eaanoo aa:49q,, aql 6ull.}a6 pue deo I!wil lao} AaoInjel.s ay} 6ulAleM A8 •wn!wejd u! 000`t,$ aano a1:4!1 a A }!O aqj sIsoo 96eaano0 leuo!I!ppe aqj `Alleuolj!peal ' !w!I 000`000` �$ / 000'000'L$ aql pajoele seq pue pwil deo pol 000`000`x$ / 000`00£$ aql pan!eM seq Al.!o eql: `}sed aql ul •sl!wil Al!l!ge!i ljol tiol.nlels eqj an!eM 01 }ou Jo aaglagM ap!oap Isnw Isnal eoueansul sa!l!o elosauu!Vq }o anbeal aqj woaJ 96eJan00 Al.!l!gell 6ulu!elgo sa!l.!o £OOZ `86 aagwanoN :31VG ON11331N - 1IONnoo itllo N0110V NO-A Auvwwns 3Alino:iX3 IMOMSON d0 A113 wao3 J9AleM - 96eJan00 Al!I!geil 11oINj `juellnsuoo juewa6eueN �s!�I `uosialed :A8 a3A021ddV ued woad. aa:4al uo!l:epuawwoa�J :S1N3WHOt/liv a 9 # aoloaa!Q aoueul3 `AeW }oaf :AB (39UVd3Nd luesuoo :N01133S VON39V sl!wi I aoueinsul Al_!I!gei� laol ldeooy M311 VGN3E)V £OOZ `86 aagwanoN :31VG ON11331N - 1IONnoo itllo N0110V NO-A Auvwwns 3Alino:iX3 IMOMSON d0 A113 �r LMCIT LIABILITY COVERAGE WAIVER FORM Cities obtaining liability coverage from the League of Minnesota Cities Insurance Trust must decide whether or not to waive the statutory tort liability limits to the extent of the coverage purchased. The decision to waive or not to waive the statutory limits has the following effects: • If the city does not waive the statutory tort limits, an individual claimant would be able to recover no more than $300,000 on any claim to which the statutory tort limits apply. The total which all claimants would be able to recover for a single occurrence to which the statutory tort limits apply would be limited to $1,000,000.. These statutory tort limits would apply regardless of whether or not the city purchases the optional excess liability coverage. • If the city waives the statutory tort limits and does not purchase excess liability coverage, a single claimant could potentially recover up to $1,000,000 on a single occurrence. The total which all claimants would be able to recover for a single occurrence to which the statutory tort limits apply would also be limited to $1;000,000, regardless of the number of claimants. • If the city waives the statutory tort limits and purchases excess liability coverage, a single claimant could potentially recover an amount up to the limit of the coverage purchased. The total which all claimants would be able to recover fora single occurrence to which the statutory tort limits apply would also be limited to the amount of coverage purchased, regardless of the number of claimants. Claims to which the statutory municipal tort limits do not apply are not affected by this decision. This decision must be made by the city council. Cities purchasing coverage must complete and return this form to LMCIT before the effective date of the coverage. For further information, contact LMCIT. You may also wish to discuss these issues with your city attorney. The City of Rosemount accepts liability coverage limits of $ 1.000,000 /1,000,000 from the League of Minnesota Cities Insurance Trust (LMCIT). Check one: The city DOES NOT WAIVE the monetary limits on municipal tort liability established by Minnesota Statutes 466.04. X The city WAIVES the monetary limits on tort liability established by Minnesota Statutes 466.04, to the extent of the limits of the liability coverage obtained from LMCIT. Date of city council meeting November 18, 2003 Signature Position Mayor Return this completed form to LMCIT, 145 University Ave. W., St. Paul, MN. 55103 -2044 Page 1 of 1 LarsonAlleri" CPAs, Consultants & Advisors www.larsonallen.com November 10, 2003 Mr. Jeff May Finance Director City of Rosemount 2875 145" Street West Rosemount, MN 55068 -4997 Re: Maximum Tort Liability Dear Jeff: Under Minnesota Statute 466.04 the liability for the City of Rosemount shall not exceed: • $300,000 when the claim is one for death by wrongful act or omission and $300,000 to any claimant in any other case; $1,000,000 for any number of claims arising out of a single occurrence_ There are two options available under the League of Minnesota Cities Insurance Trust. The first is to accept the statutory limits. The other option is to waive this limitation and to select a limit of $1,000,000 per claimant, $1,000,000 per occurrence. Per section 466.06 if you accept this higher limit you will have waived the statutory limitation but the City of Rosemount'sliability will not exceed the extent to which valid and collectible insurance exceeds these limits and covers the claim. I recommend that you continue with the $1,000,000 per claimant, $1,000,000 per occurrence limit and sign the waiver form provided by the League of Minnesota Cities Insurance Trust. The reasons for doing this are: Your exposure is limited by the limit you select. A person injured seriously due to the City's negligence stands a better chance of being fully compensated. • If a loss was not to fall under the statutory cap - under federal statutes perhaps - greater protection would be available to the City. Since ely, LA ON L EN j /WEJSH R & CO. LLP t Daniel E. Peterson Manager /Risk Management 320203 -5523 PO Box 1067, St. Cloud, MN 56302 - 1067, 320/203 -5500, Fax 320/253.7696