HomeMy WebLinkAbout01/06/2010 7E DATE SUBMITTED: December 14, 2009
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL �
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SUBJECT: 2010 Property Insurance Committee Meeting Date: Dec. 16, 2009 (Finance
Committee)
COiTNCIL MEETING Date: January 6, 2010
Department: City Attorney's Office
Presenter: Roger Lubovich and
Thelma Swem
Phone: 473-2345
SUMMARY: The Bremerton Municipal Code authorizes the Risk Management Specialist, with the
approval of the City Attorney, to bind property insurance coverage on City assets and requires City
Council approval for the continuation of the bound coverage. Property insurance coverage for 2010
has been bound with Affiliated FM Insurance. The annual premium for 2010 is $211,836. Coverage
is subject to a$100,000 deductible for most losses and a$50,000 deductible for boiler and machinery
losses. Earthquake and flood insurance is only provided for the Wastewater Treatment Plant, the
Harborside Conference Center, the Harborside Sculptures and Fountains and PSNS Memorial Plaza
ATTACHMENTS: Insurance Binder
FISCAL IMPACTS (Include Budgeted Amount): Sufficient funds have been budgeted in the Risk
Management Fund for this expenditure for 2010.
APPROVALS: �
DEPARTMENT DIRECTOR:
CITY ATTORNEY:
FINANCE DIRECTOR:
MAYOR:
COMMITTEE CHAIR
COUNCIL PRESIDENT: CONSENT AGENDA
GENERAL BUSINESS ❑
PUBLIC HEARING ❑ .
RECOMMENDED MOTION: Move to approve the continuation of the property insurance bound
by Affiliated FM Insurance for 2010.
COUNCIL ACTION: Approve ❑ Deny ❑ Table ❑ Continue ❑ No Action