HomeMy Public PortalAboutAB 09-200 Terrorism InsuranceMcCALL CITY COUNCIL
AGENDA BILL
Number
Meeting Date
216 East Park Street
McCall, ID 83638
AB 09-200
September 24, 2009
AGENDA ITEM INFORMATION
SUBJECT:
Terrorism Insurance Waiver
Approvals: Department/
Committee/Individual
Initials
Remarks
(Originator/
Support)
Mayor / Council
City Manager
Community Development
Treasurer
Clerk, Deputy City Clerk
originator
Police Department
Public Works
Golf Operations
COST IMPACT: $24,338
Parks & Recreation
FUNDING SOURCE: unidentified
Airport
Library
TIMELINE: ASAP
City Attorney
Grant Coordinator
SUMMARY STATEMENT:
The City of McCall has received its ICRMP Policy renewal for FY10. Included in our insurance policy is
terrorism coverage for ICRMP Members as a whole for $20,000,000. The coverage is provided for all
ICRMP members to be shared by any and all affected by acts of terrorism, at no additional cost to the City.
ICRMP also has available additional terrorism insurance for the additional cost of $24,338 over our renewal
amount of $95,451, to cover our total insured property of $24,338,281.
In order for an act of terrorism to be acknowledged, the Secretary of Treasury, in concurrence with the
Secretary of State and the Attorney General of the United States, certifies that an event meets the definition
of a "certified act of terrorism".
In Accordance with the Terrorism Risk Act, December 26, 2007, ICRMP is required to offer coverage of all
property they insure. The City of McCall must decide whether they desire the additional coverage, at the
additional premium, or choose to reject the additional coverage.
Attached is a letter from The Hartwell Corporation stating the amount of our FY10 premium, a letter from
Rick Ferguson, Executive Director of ICRMP explaining the terrorism coverage and the Notice Offer of
Terrorism Coverage, required by law, and the form to reject the additional insurance.
RECOMMENDED ACTION:
Reject the additional terrorism insurance offered by ICRMP and authorize the Mayor to sign all
necessary documents.
RECORD OF COUNCIL ACTION
Meeting Date
ACTION