HomeMy WebLinkAbout09/19/2018 5E AGENDA BILL
CITY OF BREMERTON 5E
CITY COUNCIL
SUBJECT: Purchase of Marine Insurance Study Session Date: September 12, 2018
with Travelers and Water Quality Insurance COUNCIL MEETING Date: September 19, 2018
Syndicate for the City's Argus Rescue Boat Department: City Attorney's Office &
Risk Management
Presenter: Melisa Vaal Folmer
Phone: (360)473-5302
SUMMARY: The Bremerton Municipal Code authorizes the Risk Management Specialist, with the
approval of the City Attorney, to negotiate with insurance brokers and recommend that the City
purchase such insurance. It is recommended that the City purchase Marine insurance for the City's
Argus rescue boat. The Marine insurance proposal is as follows:
1. Hull and Machinery and Protection and Indemnity coverage with Travelers at an annual cost
of$4,474;
2. Excess Protection and Indemnity coverage with Travelers at an annual cost of$4,450; and
3. Vessel Pollution coverage with Water Quality Insurance Syndicate (WQIS)at an annual cost
of$400.
The total annual premium would be $9,324.
ATTACHMENTS:
FISCAL IMPACTS (Include Budgeted Amount): Adequate funds are not available within the Risk
Management Fund and an adjustment would need to be done to procure this coverage.
STUDY SESSION AGENDA: ❑x Limited Presentation ❑ Full Presentation
STUDY SESSION ACTION: ® Consent Agenda ❑ General Business ❑ Public Hearing
RECOMMENDED MOTION: Move to approve the purchase of Marine insurance for the City's Argus
rescue boat with Travelers and WAIS; and increase the Risk Management expenditure budget by
$9,324.
COUNCIL ACTION: ❑ Approve ❑ Deny ❑ Table ❑ Continue ❑ No Action
Form Updated 01/02/2018