Your PUD
News Release
PUD insurance costs are lower
Chelan County PUD
News Release
5/19/2008
Chelan County PUD will pay about $129,000 less for insurance coverage for the coming year, the result of working closely with carriers to explain District operations and because of changes in the insurance market.
Ron Gibbs, PUD insurance and claims manager, said Monday the District’s goal was to return premiums to 2000 levels (adjusted for inflation). The PUD’s insurance rates had nearly doubled by 2003 following the 9/11 attacks, financial scandals and hurricanes.
Rates have come down since then. The 2008-2009 total of $1.6 million is about 7 percent less than estimates. Gibbs cautioned commissioners that premiums may start going up as the industry deals with pressures from the weak U.S. dollar, concerns about inflation and oil prices, a drop in investment income from lower interest rates and losses from winter storms and disasters.
PUD commissioners approved the purchase of insurance for the PUD for June 1, 2008-2009.
In other business, commissioners:
Approved changes in the regional water system operating agreement with the city of Wenatchee and the East Wenatchee Water District to add an elected official from each agency to the coordinating committee. Ron Slabaugh, PUD water engineering supervisor, said as more policy issues face the committee it makes sense to add elected officials to the group. PUD Commissioner Randy Smith will join Slabaugh on the committee.
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The next meeting of the PUD commission will begin at 11 a.m. on Tuesday, May 27, in the boardroom at PUD Headquarters, 327 N. Wenatchee Ave. The meeting date changed from Monday because of the Memorial Day holiday.
Most PUD commission meetings are recorded, and a link to the audio is available on the PUD’s home page at www.chelanpud.org.
Kimberlee Craig
Public Information Officer
509-661-4320, direct line
509-679-6858, cell
kimberlee.craig@chelanpud.org