Drafter
Clerk 04/17/2012
title
A RESOLUTION authorizing the purchase of excess marine liability coverage for the purpose of providing insurance for the King County Ferry District, and authorizing the chair of the Board of Supervisors to take actions necessary to accomplish the purchase of insurance.
Body
WHEREAS, the King County Ferry District ("District") is authorized by chapter 36.54 RCW and chapter 39.34 RCW to join with other governmental entities of the State for the purposes of providing liability insurance for the District; and
WHEREAS, since November 2008, King County's insurance brokers have negotiated an insurance option for the District, whereby the District has been added to King County's existing marine liability policies as a named insured, which has proven to be a cost effective method for procuring insurance for the District and its operations; and
WHEREAS, King County's insurance brokers have negotiated a similar option for the District for the coverage period of April 1, 2012 through March 31, 2013, whereby the District may be added to King County's existing marine liability policies as a named insured, at a cost effective rate;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE KING COUNTY FERRY DISTRICT as follows:
SECTION 1.
A. The quotes for excess marine liability and other coverage, Attachment A to this resolution, are the most competitive rates available to the King County Ferry District.
B. The chair of the board of supervisors of the King County Ferry District is hereby authorized to purchase on behalf of the District excess marine liability and other
coverage with policy limits of up to $150,000,000, and to take all actions necessary to accomplish said purchase.
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