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UTILITY BOARD APPROVES RENEWAL OF INSURANCE

09/25/2008 ~ At their regular meeting on Wednesday, September 24th, the Utility Board approved the renewal of Keys Energy Services (KEYS) Excess Liability, Worker’s Compensation, Automobile, General Liability, Public Officials, Crime, ERISA Bond, and Fiduciary insurance for Fiscal Year 2009* at a not-to-exceed cost of $315,590.00.

The Board awarded the renewal of Excess Liability insurance to National Casualty for an estimated premium of $99,010.00; Worker’s Compensation, Automobile, and General Liability insurance to Florida League for an estimated premium of $170,668.00; and Public Officials, Crime, ERISA Bond, and Fiduciary insurance to Key West Insurance, Inc. for an estimated premium of $45,912.00.

The current insurance policies will expire on September 30, 2008. This renewal, effective October 1, 2008, through September 30, 2009, will ensure the prudent protection of KEYS’ employees and physical assets.

The regular meeting of the Utility Board took place at 5:00 p.m., Wednesday September 24th, in the Louis Carbonell Board Room of the William Arnold Service Building, at 1001 James Street, Key West.

*KEYS’ Fiscal Year runs from October 1st to September 30th

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