Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Boiler Coverage topic
No spam. Unsubscribe anytime.
Committee approves boiler/machinery coverage; optional terrorism coverage tabled for further review
Summary
The committee approved boiler and machinery coverage and voted to table a separate terrorism‑coverage quote of about $24,116 so members could review the option further; staff noted terrorism coverage can be purchased anytime but quoted premiums were time‑sensitive.
The committee approved staff’s recommendation to renew boiler and machinery coverage and tabled a separate optional terrorism coverage quote for further review.
Staff presented the boiler policy (covering boilers, piping and related equipment) and said a past small claim demonstrated the value of maintaining that line. A committee member noted replacement of a large high‑school boiler could cost several hundred thousand dollars. The boiler premium was listed in the committee materials (formatted in the materials as "$34,18"); staffing materials will confirm the exact annual premium amount for the boiler/machinery program.
On terrorism coverage, staff presented a quoted premium of about $24,115–$24,116 and explained that terrorism coverage is tied to property TIV and, in most cases, requires an official federal declaration of an act of terrorism for the coverage to respond. The advisor said terrorism premiums have fallen since the early 2000s and that providing the quote constituted due diligence, but several members asked for more time to digest timing and cost implications.
The motion to accept the boiler coverage recommendation was moved (mover recorded in the transcript as 'Mr. Lman') and seconded (Mr. Def Francis); the committee voted in favor and advanced the boiler coverage to the consent agenda. The committee agreed to table the terrorism coverage decision to permit additional member review; staff said the quoted premium was guaranteed only until April 1 and that the coverage could be purchased later if the committee decided to proceed.
Next steps: staff will confirm the exact boiler premium figure in the materials and will provide additional detail to members; the terrorism option may return for committee consideration alongside related maintenance‑budget discussions in early April.
