HomeMy WebLinkAbout12/17/2014 6J AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
SUBJECT: 2015 Property Insurance Study Session Date: December 10, 2014
COUNCIL MEETING Date: December 17, 2014
Department: City Attorney's Office—
Risk Management
Presenter: Thelma Swem
Phone: 360-473-5302
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 2015
has been bound with American Home Assurance Company. The annual premium including terrorism
coverage and mandatory engineering fee for 2015 is $284,672. Coverage is subject to a $100,000
deductible for most losses. Earthquake and flood insurance is only provided for the Wastewater
Treatment Plant, the Harborside Conference Center, the Harborside Sculptures and Fountains and
the PSNS Memorial Plaza.
ATTACHMENTS:
FISCAL IMPACTS (Include Budgeted Amount): Sufficient funds have been budgeted in the Risk
Management Fund for this expenditure for 2015.
STUDY SESSION AGENDA: ❑x No Presentation ❑ Full Presentation
STUDY SESSION ACTION: ❑x Consent Agenda ❑ General Business ❑ Public Hearing
RECOMMENDED MOTION:
Move to approve continuation of property insurance bound with American Home Assurance
Company for 2015.
COUNCIL ACTION: JApprove ❑ Deny ❑ Table ❑ Continue ❑ No Action
Form Updated 01/25/13