HomeMy WebLinkAbout~Master - Property, boiler, and machinery insurance coverages RESOLUTION NO. 06-230
RESOLUTION APPROVING PROPERTY AND BOILER AND MACHINERY COVERAGES
WITH FM GLOBAL INSURANCE COMPANY
FOR THE CITY OF AMES
WHEREAS,the policy for the City's property and boiler and machinery coverages expires on July
1, 2006; and,
WHEREAS,the current carrier is FM Global Insurance Company; and,
WHEREAS, the relationship with FM Global has become strong, and they have provided high
quality engineering reports that have allowed staff to work more closely with departments to address loss
control issues.
WHEREAS, staff has explored other insurance options for these coverages, however, no other
carriers were found.
WHEREAS,FM Global is one of the largest commercial and industrial property insurers in the
world, and it is a mutual insurance company owned by its policy holders.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa, that
the proposal from FM Global Insurance Company for property and boiler and machinery coverage in the
amount of$402,000 is hereby approved.
ADOPTED THIS 13"'day of June, 2006.
-Diane R. Voss, City Clerk Ann H. Campbell, Mayor
Introduced by: Rice
Seconded by: Popken
Voting aye: Doll, Goodman, Popken, Rice
Voting nay: None Absent: Goodhue, Mahaym
Resolution declared adopted and signed by the Mayor this 13"'day of June, 2006.