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UTILITY BOARD RENEWS WORKERS’ COMPENSATION INSURANCE

09/23/2004 ~ The Utility Board approved the renewal of Keys Energy Services (KEYS) Workers’ Compensation insurance with the Florida League of Cities, effective October 1, 2004, through September 30, 2005, in the amount of $200,717.

The renewal premium incentive credit of $24,808 is reflected in the aforementioned premium, which will be paid in quarterly installments. The Fiscal Year 2005 policy premium decreased $17,383, an 8 percent decrease from the previous Fiscal Year premium.

In other business, the Board:

- Removed the $7,500 additional compensation for Key Accounts Outage Coordination with no adverse affect on Key Account customers.

- Authorized the General Manager & CEO to bind and renew General Liability, Public officials, Automobile, Excess and Crime Insurance coverage through Key West Insurance, Inc., effective October 1, 2004, through September 30, 2005, at a cost of $260,915, a 5 percent increase from Fiscal Year ’04.

The regular meeting of the Utility Board took place at 5:00 p.m., September 22nd, in the Louis Carbonell Board Room of the William Arnold Service Building, 1001 James Street, Key West.

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