City of Shakopee Council Regular Meeting Agenda Packet May 2026
City Maintains LMCIT Liability Coverage With Statutory Caps
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Description
The City of Shakopee will continue its liability insurance coverage through the League of Minnesota Cities Insurance Trust without waiving statutory tort limits, maintaining capped exposure for claims. Resolution R2026-076 formalizes the 2026 coverage election and avoids additional premium costs tied to waiving those limits.
Contract Details
Vendor
LEAGUE OF MINNESOTA CITIES INSURANCE TRUST
Agency
City of Shakopee, MN
Contract Type
INSURANCE
Document Date
May 19, 2026
Contract Term
Coverage year beginning January 1, 2026 (annual liability insurance election)
Renewal Date
2026-12-31
Renewal Info
The tort limit waiver decision is required annually by LMCIT; by adopting Resolution R2026-076 the City elects for the 2026 coverage year not to waive statutory limits. The City must revisit and reauthorize its election for the next policy year.
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