Purpose

This report seeks approval for a procurement strategy for
terrorism insurance cover. The Council’s terrorism insurance
provider, Charles Taylor Consulting, has advised that they will not
be providing cover for the final two years of our agreement from 31
March 2025; therefore, there is an urgent need to retender
alongside 7 participating councils who are members of the ILC
(London Insurance Consortium), to obtain economy of scale on
pricing, to cover these two remaining years.

Content

THAT the Director of Finance, approves the procurement strategy,
which includes a price/quality split of 60/40 and contract term of
2 years for an estimated aggregate value (including extensions) of
up to £250,000.