05(J) - Resolution Electing the Non Waiver of Statutory Municipal Tort Liability Limits and Declining Excess Liability Insurance Coverage Report
January 27, 2026 · Prior Lake, MN
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Source: 05(J) - Resolution Electing the Non Waiver of Statutory Municipal Tort Liability Limits and Declining Excess Liability Insurance Coverage Report
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The City Council of Prior Lake has adopted a resolution electing not to waive the statutory municipal tort liability limits and declining excess liability insurance coverage. This decision is based on the city's relatively low claims experience and the potential increased costs associated with waiving the limits or purchasing excess coverage. The resolution aims to protect the city's financial interests while also considering its fiduciary responsibilities.
Details
Subject
Election of Non Waiver of Statutory Municipal Tort Liability Limits and Declining Excess Liability Insurance Coverage
Summary
The City Council of Prior Lake has adopted a resolution electing not to waive the statutory municipal tort liability limits and declining excess liability insurance coverage. This decision is based on the city's relatively low claims experience and the potential increased costs associated with waiving the limits or purchasing excess coverage. The resolution aims to protect the city's financial interests while also considering its fiduciary responsibilities.