Purpose

This report considers the tenders
received for the provision of Insurance Services for Fareham Borough
Council.  The report recommends an award
of contract for the services. 

 

Ten Borough and District councils
in Hampshire have worked collaboratively to procure insurance services from 1
April 2025 using an Open Procedure in accordance with the Public Contracts
Regulations 2015. 

 

The current cost of insurance
across the 10 borough and district councils in Hampshire is £4.7 million a year
and for Fareham Borough Council £531,000.

 

This report provides the
Executive with information regarding the tenders received and seeks an award of
contract for a 3-year long term agreement with the option to extend for a
further 2 years for the provision of insurance services.

Decision

RESOLVED that the Executive
agrees:

 

(a)  to award
the contract to the winning insurer of each Lot, as set out in confidential
Appendix A to the report, being the most economically advantageous tender
received; and

 

(b)  that
authority be delegated to the Assistant Director (Finance & ICT) to accept
the finalised premiums and associated costs or make alternative arrangements in the event that the tender cannot be accepted by other
participating local authorities.