HomeMy WebLinkAboutSIR Letter - City of Bremerton 2024
May 29, 2024
City of Bremerton Attn: Melinda Monroe 345 6th Street Bremerton, WA 98337
RE: Puget Sound Energy – Self-Insurance Attestation Dear Ms. Monroe:
Puget Sound Energy maintains a comprehensive program of risk retention and insurance.
Our casualty program for General Liability, Auto Liability and Worker’s Compensation insurance has substantial limits in place. The self-insured retention, which is currently $2,000,000 per occurrence, may fluctuate from year to year; however it is always
consistent with our net worth and cash flows. Evidence of financial solvency via SEC
10K and 10Q filings can be accessed at http://www.pugetenergy.com/pages/filings.html. Excess insurance protection is purchased, similar in proportion to that of other corporations our size, and exceeds the insurance requirements set forth in Franchise Agreement Puget maintains with the City. The excess insurance provides coverage above
the general liability, auto liability, and employers liability limits required under the
Franchise. A certificate of insurance demonstrating this excess liability insurance is included for your records. Puget Sound Energy hereby commits its self-insurance program to the City of Bremerton
to guarantee compliance with the commitments and indemnification obligations, and will
respond to the same extent as if a policy of insurance named City of Bremerton as additional insured for work performed by or for PSE under the Franchise. Sincerely,
Julie Milbrandt Insurance Risk Program Manager
Puget Sound Energy