Purpose

The Council’s full insurance programme
is due for tender 1/4/2024.The contracts to be tendered are for the
following insurance policies - Property, Liability, Residential
Leasehold Buildings , Crime, Personal Accident & Travel, School
Journey, Terrorism, Motor, Engineering Inspection, Directors &
Officers.
Insurance is required to provide protection of the Councils assets
and liabilities. For residential leasehold the lease agreement
between the Council and residential leaseholders requires the
Council, as freeholder, to arrange building insurance to cover the
re-instatement value of the leaseholder’s asset and the two
stage Section 20 procedure will be followed.

Decision

1.           
To note and approve the proposed procurement
strategy for tendering the Councils insurance requirements and
allied engineering inspection services, commencement of this formal
tender process, intended compliance with the Public Contract
Regulations and the need to seek suitable authority on a sovereign
basis to award the contract after evaluation. Estimated contract
award for all lots, based on 2023/24 premiums is £20M over a
period of 5 years.
 
2.           
To note that due to the likely contract value the
award to be returned to Cabinet for approval.