HomeMy WebLinkAbout08-024
DATE SUBMITTED:
January 14,2008 BILL #
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
08- o:J--1
........................................................................................
SUBJECT: 2008 Property Insurance
Committee Meeting Date: January 23,2008
COUNCIL MEETING Date: February 6, 2008
Department: Financial Services
Presenter: Peggy Lesser ~
Phone: 473-5302
SUMMARY: The Bremerton Municipal Code authodzes the Risk Manager to bind property
insurance on City assets and then requires City Council approval for continuation of the bound
coverage. Property insurance coverage for 2008 has been bound with Affiliated FM Insurance at an
annual cost of $200,754. The coverage is subject to a $100,000 deductible for most losses and a
$50,000 deductible for boiler and machinery losses. Earthquake and flood coverage is provided only
for the WWTP, the Harborside Conference Center, and the Harborside Sculptures and Fountains.
ATTACHMENTS: Insurance Binder
FISCAL IMPACTS (Include Budgeted Amount): Sufficient funds have been budgeted for this
expenditure.
COMMITTEE CHAIR
COUNCIL PRESIDENT:
CONSENT AGENDA 154.
GENERAL.BUSINESS D
PUBLIC HEARING D
APPROVALS:
DEP ARTMENT DIRECTOR:
CITY ATTORNEY:
FINANCE DIRECTOR:
MA YOR:
RECOMMENDED MOTION: I move to approve the continuation of the property insurance bound
by Affiliated FM Insurance for 2008.
COUNCIL ACTION: ripprove
n Deny n Table
n Continue n No Action