Confirmation and Award of Final Contract for Leasehold Property Insurance

October 20, 2023 Corporate Director of Residents and Housing Services (Officer) Key decision Approved View on council website

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Summary

Corporate Director of Residents and Housing Services approved the final award of contract for Leasehold Property Insurance to Arthur J. Gallagher Insurance Brokers Ltd. The decision was made on 20/10/2023. The contract is for £1,244,935.38 in the first year and £4,979,741.52 for the subsequent four years.

Full council record

Purpose

Authority to award the leasehold property insurance contract following the initial interim authority to award and subsequent observation of the statutory Section 20 Landlord and Tenant Act 1985, Stage 2 Notice.

Decision

That the Corporate Director Resident Services, in consultation with the Cabinet Member for Housing, Homelessness and Renters Security:

i)             Approves the final award of contract for Leasehold Property Insurance to Arthur J. Gallagher Insurance Brokers Ltd in the sum of £1,244,935.38 in the first contract year and £4,979,741.52 for a further period of four years, making a total of £6,224,676.90 over the contract period.

Reasons for the decision

As detailed within the accompanying report.

Alternative options considered

As detailed within the accompanying report.

Supporting Documents

Officer Key Decision Report.pdf
Appendix 1 - Summary of Observations.pdf
Officer Key Decision Form.pdf

Details

OutcomeRecommendations Approved
Decision date20 Oct 2023
Effective from1 Nov 2023
Subject to call-inYes