Damage estimate soars to $57M, but insurers likely to pay in flood at West Point wastewater plant
The new price tag for the catastrophic Feb. 9 flood that crippled the West Point Treatment Plant is up to $57 million — more than double the previous estimate. But taxpayers may be off the hook for most of it.
The Wastewater Treatment Division, in a letter Friday to the Metropolitan King County Council, updated its initial estimate of $25 million in damage, stating major repairs and replacement of equipment will continue through October and cost $49 million to $57 million.
A Seattle Times special report found errors in judgment, poor communication, a lack of training, equipment failures and faulty maintenance led to the devastating flood at the region’s largest plant. Wastewater managers say it is one of the largest infrastructure catastrophes in regional history and they were lucky no one was killed.
King County Office of Risk Management Services Manager Allison Frey said insurance company FM Global will cover the first $25 million and is confident the seven insurance carriers that provide the next tier of coverage — up to $75 million — will pick up the balance.
Read more: http://www.seattletimes.com/seattle-news/damage-estimate-soars-but-insurers-likely-to-pay-in-flood-at-west-point-wastewater-plant/
