02-28-2012 Special School Board Meeting
Agenda Item #33


Title
Aboveground and Underground Fuel Storage Tank Insurance Policy Renewal

Discussion

The State of Florida, Department of Environmental Protection requires gasoline and diesel fuel tank owners/operators to carry insurance for their tanks when the gallon capacity exceeds 550 gallons for aboveground and 110 gallons for underground tanks. This policy accomplishes this requirement for the District's 12 Underground and 15 Aboveground fuel storage tanks.

The policy has a $5,000 deductible per occurrence and will cover the District for corrective action following a fuel spill up to $1,000,000. The policy also covers bodily injury, third-party property damage, and legal defense expenses from any one fuel spill up to $1,000,000. The policy has an annual aggregate of $2,000,000.



Recommendation

Approve the District's Storage Tank Third Party Liability Coverage Insurance policy effective March 24, 2012 in the amount of $15,512.07.



Meeting Date(s)
Information - 2/28/2012
Consent after Information3/13/2012

Authority for Action
Florida Department of Environmental Protection Rule #62-761.900

Involves Expenditure of Funds Directly in the Classroom
No

Source of Funding
Operating - Other

FY
Amount
Budgeted
Fund
Cost Center
Project
Function
Object
Program
12/13$15,512.07YES10098550011647900323000

Contact
Mark Langdorf, Director of Risk Management, ext. 620
Judy Preston, Associate Superintendent of Financial Services, ext. 600


Attachment:  2012-13 UST-AST Renewal Proposal.pdf