The property/casualty coverage offered by the League of Minnesota Cities Insurance Trust (LMCIT) is very broad and is reviewed on an ongoing basis to ensure that emerging and new city needs are met. Rate stability is also very important, and is accomplished through a mix of lower operating costs, investment income, loss control services, and LMCIT’s non-profit philosophy.
Premiums are collected from member cities to pay for claims and lawsuits, and once those costs are covered, remaining funds are used to build the members’ fund balance and to provide a responsible dividend when appropriate.
Read more about property/casualty coverages:
Read more about property/casualty coverage changes, rates and dividends: