Purpose

This report sets out the recommended contract
awards for the Councils Insurance programme for the following
contracts: Property, Combined Liability, Leasehold Buildings,
Directors & Officers, Terrorism, Motor, Crime , Personal
Accident & Travel, School Journey insurances and associated
Engineering Inspection services for contract commencement date of 1
April 2024

Decision

1.   
To note that Appendices 2 & 3 are not for
publication on the basis that they contain information relating to
the financial or business affairs of any particular person
(including the authority holding that information) as set out in
paragraph 3 of Schedule 12A of the Local Government Act 1972 (as
amended).
 
2.   
To approve the contract awards set out in paragraph
38 of the report.
 
3.   
To approve an increase to the self-insurance fund
deductible limit for Combined Liability (Lot 2) from £100,000
to £350,000. The financial rationale is detailed in the
report at paragraph 11 and Appendix 2.
 
4.   
To note that in summary however, the annual premium
of the bid is reduced by £164K with an anticipated increase
in the self-funding provision of circa £75K and therefore net
additional saving on bid of £90K noting that given variances
in claims experience year on year this needs to be considered over
the contract period.
 
5.   
To note that Lots 1 (Property Insurance) and Lot 9
(Residential Leasehold Buildings insurance) are not to be awarded
at this time and as detailed on the report are subject to a further
tender process as detailed in this report at paragraphs 32 to
36.

 
6.   
To approve a delegated authority to the Strategic
Director of Finance in conjunction with the Cabinet Member for
Finance and Reform to subsequently approve the award of Lots 1 and
9, noting they need to be in place prior to 1st April
2024.