Resolution accepting the property insurance claims payments from Arch Specialty Insurance Company, 219 Hudson St, Suite, 300 Jersey City, NJ 07311, in the amount of $89,084.45, for losses sustained as a result of Hurricane Matthew and to execute settlement documents as necessary. The gross amount of covered damages sustained by the properties insured under Arch policy was $372,245.50. After applying the five percent deductible of the total insured value of each building and its contents (subject to a minimum of $250,000 per occurrence), the net recovery amount is $89,084.45.
Recommendation: Human Resources Director recommends adoption of the Resolution.