Purpose

A contract for insurance was
awarded in February 2023. The recommendation of the appointed
broker was to appoint all business with a single insurer. Zurich
Municipal provided a package discount (to take all insurance
risks).

Decision

The Cabinet member agreed to extend the
contract with Zurich Municipal for 24 months in line with the
contract terms and conditions. The contract extension will run from
01/04/2026 to 31/03/2028.

Reasons for the decision

A contract for insurance was awarded via a
Cabinet Member Decision in February 2023 including the option to
extend for a futher 24 months. The recommendation of the appointed
broker was to appoint all business with a single insurer. Zurich
Municipal provided a package discount (to take all insurance
risks).
 
In line with the council’s contract
procedure rules the Cabinet Member for Finance and Commissioning
has authority to agree the contract extension.
 
The estimated value of the contract extension
will remain within MTFS parameters.
 
The original contract was procured in line
with the council’s contract procedure rules, as well as the
Public Contracts Regulations 2015.
 
The current contract provides additional cover
and better terms especially relating to LWMTS activities as well as
current high risk shared services e.g. Building / Land Charges,
Joint Waste Service etc. The activities LDC / LWMTS undertake are
not typical of a district council risk profile.

Alternative options considered

Do nothing – the contract would expire,
this would leave the council open to serious risk.
 
Re-run a procurement – the contract is
performing well and offers the opportunity to extend, so there is
no identified business need to re-run the procurement at this
time.