RES 13-10 RESOLUTION 13- 10
•
A RESOLUTION OF THE CITY OF ELK RIVER
A RESOLUTION APPOINTING INSURANCE AGENT OF RECORD FOR
LEAGUE OF MINNESOTA CITIES INSURANCE TRUST
WHEREAS, the League of Minnesota Cities Insurance Trust (LMCIT) requires cities to
use the services of an agent in order to participate in the LMCIT
property/casualty program;and
WHEREAS, the City Council has reviewed and considered the written materials from
LMCIT discussing the agent's role and compensation in LMCIT;and
WHEREAS, Northern Capital Insurance Group has agreed that they are willing to provide
to the city the services listed below under the terms and conditions listed
below; and
NOW, THEREFORE, BE IT RESOLVED THE FOLLOWING:
Appointment
1. The City of Elk River hereby appoints as its agent for purposes of the city's
• participation in the LMCIT property/casualty and workers' compensation programs.
Northern Capital Insurance Group
Term: five (5 years)
2. This appointment shall remain effective until June 30,2018.
Compensation
3. As compensation for the services provided to the city as described in Paragraph 4
below, the city will pay to the agent a fee of$9,000 annually. The city hereby directs
LMCIT not to include any allowance for an agent's fee in quoting and billing the
city's premiums for property,liability,and automotive coverage and to refund the
two percent workers' compensation coverage agent fee allowance to the city.
Services
4. The agent will perform the following services:
a. Advise and asset the city in assembling and accurately reporting underwriting
data,including updating property values, for rating purposes.
b. Advise and assist the city in evaluating and selecting among coverage alternatives
such as deductibles,limits, optional coverages, and alternative coverage forms,
etc.
c. Review coverage documents and invoices to assure coverage has been correctly
• issued and billed.
d. Advise the city on potential gaps or overlaps in coverages.
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e. Assist the city as requested in submitting claims and interpreting coverage as •
applied to particular claims.
f. Review loss reports for correct reporting, appropriate reserves, etc.
g. Assist as requested with safety and loss control activities.
h. Assist the city in identifying risk exposures and developing appropriate strategies
to address those exposures.
Passed and adopted this 18th day of March 2013.
PA
.hn J.pietz,Ma, .
ATTEST:
(,tC)
Tina Allard,City Clerk-
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