In 2016, due to significant issues amongst council members and substantial staff turnover, the City had special underwriting conditions placed on its insurance coverage by the League of Minnesota Cities Insurance Trust (LMCIT). Those conditions included raising the city’s deductible from $500 to $200,000 for liability and land use claims.
This week the LMCIT Board met again to review Lake Elmo’s coverage. Noting the significant progress made over the last two years, the board voted unanimously to eliminate the special underwriting conditions with the City’s January 1, 2019 renewal coverage. The City’s deductible will return to $1,000; a change made by the city last year after a cost-benefit risk analysis. For more information and to view the memo from League staff click here.