The purpose of this decision is for the Director of Finance (under delegated powers) to enter into a new five-year long-term agreement from 1 October 2023, in respect of the Council’s Liability, Property & Motor fleet insurance cover, following a ful
September 15, 2023 Director of Finance (Officer) Approved View on council websiteFull council record
Decision
It is recommended that the Director of Finance accept the following bids for external insurance cover from 1 October 2023. The contract period is for a three-year initial term, followed by two single year extensions (if required).Property – The Travelers Company - £194,178.12 per annumLiability – Risk Management Partners - £234,125.00 per annumMotor – Zurich Municipal - £39,696.10 per annumThe total value of the insurance arrangements tendered per year is £467,999.22, plus insurance premium tax at 12%, giving an annual total cost of £524,159.13.The total value of the contract award being placed for the whole five-year period (including extensions) is £2,620,795.65.
Supporting Documents
Details
| Outcome | Recommendations Approved |
| Decision date | 15 Sep 2023 |