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HomeMy WebLinkAbout10/16/2019 5G AGENDA BILL CITY OF BREMERTON 5G CITY COUNCIL SUBJECT: Renewal of Marine Insurance Study Session Date: October 9, 2019 with Travelers and Water Quality Insurance COUNCIL MEETING Date: October 16, 2019 Syndicate (WQIS)for the City of Bremerton's Department: City Attorney's Office— Argus Rescue Boat 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 bind insurance coverage and requires City Council approval for the continuation of the bound coverage. Marine insurance is bound as follows: 1. Hull and Machinery and Protection and Indemnity coverage with Travelers at an annual cost of$3,943; 2. Excess Protection and Indemnity coverage with Travelers at an annual cost of$4,037; and 3. Vessel Pollution coverage with Water Quality Insurance Syndicate ("WQIS") at an annual cost of$320. The total annual premium would be $8,300. ATTACHMENTS: FISCAL IMPACTS (Include Budgeted Amount): Sufficient funds have been budgeted in the Risk Management Fund for these expenditures. STUDY SESSION AGENDA: IZ Limited Presentation ❑ Full Presentation STUDY SESSION ACTION: © Consent Agenda ❑ General Business ❑ Public Hearing RECOMMENDED MOTION: Move to approve the renewals of Marine insurance for the City's Argus rescue boat with Travelers and WQIS in the amount of$8,300. COUNCIL ACTION: Approve [' Deny ❑ Table ❑ Continue ❑ No Action Form Updated 01/02/2018