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UTILITY BOARD APPROVES BINDING & RENEWING INSURANCE COVERAGE

03/13/2008 ~ The Utility Board approved binding and renewing Keys Energy Services’ (KEYS) property, boiler, machinery, and mobile equipment insurance coverage at their regular meeting on March 12th.

The insurance coverage is through Key West Insurance Inc. with Liberty/Hartford Steam Boiler and Landmark American, at a $2-million deductible level, and Fireman’s Fund , covering mobile equipment, at a $1,000 deductible level, effective April 1, 2008 through March 31, 2009.

The aforementioned insurance policies cover all KEYS’ owned properties for fire, windstorm, flood, and machinery breakdown with total values of $88,536,086, and mobile equipment limits of $213,000. The total cost of the insurance coverage is $633,433.

The regular meeting of the Utility Board took place at 5:00 p.m., Wednesday March 12th, in the Louis Carbonell Board Room of the William Arnold Service Building, 1001 James Street, Key West.

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