HomeMy WebLinkAbout09-034
DATE SUBMITTED: January 15, 2009
BILL #
01 - 031-
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
........................................................................................
SUBJECT: 2009 Excess Liability, Excess
Workers' Compensation, and Crime
Insurance
Committee Meeting Date: February 11,2009
COUNCIL MEETING Date: February 18, 2009
Department: Financial Services
Presenter: Peggy Lesser p~
Phone: I 473-5302
SUMMARY: The Bremerton Municipal Code authorizes the Risk Manager to bind insurance and
then requires City Council approval for continuation of the bound coverage. Excess liability coverage
has been bound with Illinois Union Insurance Company at an annual cost of$157,483.41. Excess
workers' compensation insurance has been bound with Safety National Insurance Company for a
deposit premium of $31 ,587.70. Crime insurance has been bound with Great American Insurance for
$4,473 per year.
ATTACHMENTS: Insurance Binders
FISCAL IMPACTS (Include Budgeted Amount): $429,000 was budgeted for a112009 insurance
premiums and bond costs. Renewal of these coverages will result in a favorable budget variance of
approximately $15,000 for the insurance premium line item.
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 excess liability, excess workers'
compensation, and crime insurance bound for 2009 for the City of Bremerton.
COUNCIL ACTION: ~Approve 0 Deny 0 Table
o Continue 0 No Action