94-088LJ
RESOLUTION NO. 94 -88
A RESOLUTION APPOINTING A CITY INSURANCE AGENT
WHEREAS, the League of Minnesota Cities Insurance Trust
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, Ken Jarcho Agency has agreed that they are willing
to provide the City the services listed below under the terms and
conditions listed below.
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Shorewood as follows:
• APPOINTMENT
1. The City of Shorewood hereby appoints Ken Jarcho Agency as its
agent for purposes of the City's participation in the League of
Minnesota Cities Insurance Trust (LMCIT) property /casualty
program.
TERM
2. This appointment shall remain effective indefinitely unless and
until it is terminated or amended by Council action.
COMPENSATION
3. As compensation for the services provided to the City as
described in Paragraph 4 below, the agent will receive annually a fee
equal to 5% of the annual premiums paid by the City to LMCIT for
property, liability, and automotive coverages. This fee shall be
included in the amounts billed to the City by LMCIT and shall be
paid to the agent by LMCIT on the City's behalf.
•
1
• SERVICES
4. The agent will perform for the City the following services:
a)
Advise and assist
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,
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.
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.
Cr 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.
ADOPTED BY THE CITY COUNCIL OF THE CITY OF SHOREWOOD
this 24th day of October, 1994.
Barbara Bray el, Mayor
ATTEST:
Jams C. Hurm, City Administrator