Purpose

To seek authority to award an interim contract
for leasehold property insurance. The interim contract will be
subject to a Section 20 consultation, following which the final
contract will be awarded.

Content

That the Corporate Director Resident Services,
in consultation with the Cabinet Member for Housing, Homelessness
and Renters Security:
 
i)            
Approves the interim 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 if there are
no changes to the leasehold property portfolio, inflation, and / or
risk levels in the market.
 
ii)           
An interim award is required in this instance so as to commence
consultation with the leaseholders via the statutory Section 20
Landlord and Tenant Act 1985, Stage 2 Notice.