HomeMy WebLinkAbout01/20/2021 2HAGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
SUBJECT: Purchase of 2021 Property
Insurance bound with Hartford Fire
Insurance Company
2H
Study Session Date: January 13, 2021
COUNCIL MEETING Date: January20,2021
Department: City Attorney's Office
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 property insurance coverage on City assets and requires City
Council approval for the continuation of any bound coverage that exceeds an annual premium of
$25,000. Property insurance coverage for 2021 has been bound with Hartford Fire Insurance
Company. The 2021 annual premium for all coverage is $466,000. 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, and Fire Station 1.
ATTACHMENTS:
FISCAL IMPACTS (Include Budgeted Amount): Sufficient funds have been budgeted in the Risk
Management Fund for this expenditure for 2021.
STUDY SESSION AGENDA: ❑x Limited Presentation ❑ Full Presentation
STUDY SESSION ACTION: ❑x Consent Agenda ❑ General Business ❑ Public Hearing
RECOMMENDED MOTION: Move to approve the purchase of the 2021 property insurance bound
with Hartford Fire Insurance Company in the amount of $466,000.
COUNCIL ACTION: "*pprove
Form Updated 01/02/2018
❑ Deny ❑ Table ❑ Continue ❑ No Action