HomeMy WebLinkAbout09-033
DATE SUBMITTED: January 5, 2009
BILL #
OQ-033
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
........................................................................................
SUBJECT: 2009 Property Insurance
Committee Meeting Date: February 11,2009
COUNCIL MEETING Date: February 18, 2009
Department: Financial Services
Presenter: Peggy Lesser ~~
Phone: 473-5302
SUMMARY: The Bremerton Municipal Code authorizes 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 2009 has been bound with Affiliated FM Insurance at an
annual cost of $208,462. 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.
A TT ACHMENTS: Insurance Binder
FISCAL IMPACTS (Include Budgeted Amount): Sufficient funds have been budgeted for this
expenditure.
APPROVALS:
DEP ARTMENT DIRECTOR:
CITY ATTORNEY:
FINANCE DIRECTOR:
MAYOR:
COMMITTEE CHAIR
COUNCIL PRESIDENT:
"
CONSENT AGENDA
GENERAL BUSINESS 0
PUBLIC HEARING 0
RECOMMENDED MOTION: I move to approve the continuation of the property insurance bound
by Affiliated FM Insurance for 2009.
COUNCIL ACTION: ill Approve 0 Deny 0 Table
o Continue 0 No Action