💧 Water and Power · U.S. Virgin Islands
WAPA board approved property insurance renewal at lower cost
Official document: https://www.viwapa.vi/docs/default-source/news-(docs)/wapa-property-insurance-press-release.pdf?sfvrsn=4c3b8eb_4
The Virgin Islands Water and Power Authority said its governing board voted on May 2, 2022, to authorize Executive Director and Chief Operating Officer Andrew L. Smith to renew the utility’s property insurance with Willis Towers Watson for $1,891,273 for one year.
WAPA said the policy provided property insurance coverage from April 30, 2022, through April 2023.
According to the release, the renewal reduced the cost by $98,583.25 and lowered existing deductibles while maintaining $10 million in insurance coverage.