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City staff report on timber-insurance proposal; premium estimates range $75K–$90K
Summary
Staff said insurers provided indications for a $3 million timber insurance policy with estimated premiums between $75,000 and $90,000 and a deductible in the neighborhood of $200,000; full policy terms and forms were not yet available.
The city’s finance insurance presenter briefed the St. Helens City Council on April 16 about efforts to secure insurance for timber the city owns.
Staff said they have requested quotes and received an indication (a preliminary estimate) for a $3,000,000 timber limit with minimum deductible of about $200,000 and premium indications in a range of $75,000 to $90,000 per…
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