HomeMy WebLinkAbout01/16/2019 6DAGENDA BILL
CITY OF BREMERTON
CITY COUNCIL 6D
SUBJECT: Purchase of 2019 Property
Study Session Date:
January '9,2019 ........................
Insurance with Hartford Fire Insurance
COUNCIL MEETING Date:
January 16, 2019
Company; Earthquake Insurance with
Department:
City Attorney's Office —
Empire Indemnity Insurance
Risk ,Management
General Security Company of Arizona;
Y
Presenter:
MehsamVa Folmer
a
Terrorism Insurance with Lloyds of London
Y
Phone:
��� 302 �
360 473-5
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 2019
has been bound with Hartford Fire Insurance Company, along with excess earthquake coverage with
Empire Indemnity Insurance Company/General Security Company of Arizona and terrorism coverage
with Lloyds of London. The 2019 annual premium is $338,203.51. Coverage is subject to a
$100,000 deductible for most losses. Earthquake 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 2019.
STUDY SESSION AGENDA: 0 Limited Presentation El Full Presentation
STUDY SESSION ACTION: ® Consent Agenda ❑ General Business ❑ Public Hearing
RECOMMENDED MOTION: Move to approve the purchase of the 2019 property insurance bound
with Hartford Fire Insurance Company, Empire Indemnity Insurance Company/ General Security
Company of Arizona and Lloyds of London, in the amount of $338,203.51
COUNCIL ACTION: IjApprove
Form Updated 01/02/2018
❑ Deny ❑ Table ❑ Continue ❑ No Action