HomeMy Public PortalAboutAB 11-163 Terroism Insurance WaiverMcCALL CITY COUNCIL
AGENDA BILL
Number
Meeting Date
AB 11-163
September 22, 2011
216 East Park Street
McCall, Idaho 83638
AGENDA ITEM INFORMATION
SUBJECT:
Terrorism Insurance Waiver FY 12
Department Approvals
Initials
Originator
or
Supporter
Mayor 1 Council
City Manager
Clerk
4/./
Originator
Treasurer
Community Development
Police department
Public Works
Golf Course
COST IMPACT:
$32,109
Parks and Recreation
FUNDING
SOURCE:
Unidentified
Airport
Library
TIMELINE:
ASAP
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
The City of McCall has received its ICRMP Policy renewal for FY12. 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 $32,109 over our
renewal amount of $132,326, to cover our total insured property of $32,109,025.
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.
The Council rejected the additional Terrorism Insurance for FY11.
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 are
attached.
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