HomeMy WebLinkAbout~Master - Renewal of property/boiler/machinery insurance coverage RESOLUTION NO. 07-282
RESOLUTION APPROVING RENEWAL OF
PROPERTY AND BOILER AND MACHINERY INSURANCE COVERAGE
FOR THE CITY OF AMES
WHEREAS,the policy for the City's property(building and contents)and boiler and machinery
coverage expires on July 1,2007,and FM Global has provided this coverage for the last two fiscal years;
and,
WHEREAS,the market for property insurance remains very difficult,and staff could not identify
other insurance carriers who could provide all of the required coverage under one risk policy; and,
WHEREAS, the relationship with FM Global continues to be a very satisfying one for both
parties, and FM Global has been invaluable to the City in its assistance with our ongoing loss control
initiatives; and,
WHEREAS,pricing for property and boiler and machinery coverage will total$410,796 for FY
2007/08.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,that
the proposal from FM Global for renewal of property and boiler and machinery coverage in the amount
of$410,796 for FY 2007/08 is hereby approved.
ADOPTED THIS 12'h day of June, 2007.
LY-J& A. *
Diane R. Voss, City Clerk Ann H. Campbell, Mayor
Introduced by: Goodman
Seconded by: Popken
Voting aye: Doll, Goodman, Larson, Mahayni, Popken, Rice
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 12t'day of June, 2007.