Decision

Summary of Decision

The Executive Director, Finance and Resources has awarded contracts for Property and Residential Leasehold Buildings insurance.

Reasons for Decision

Property insurance is required to provide financial protection for the Council’s Corporate, Commercial and Housing assets. Without insurance this would result in unacceptable and uncapped financial exposures to the Council. 

For Residential Leasehold Buildings the Council as freeholder, is obliged to arrange cover under the terms of the lease agreements

The Cabinet Member decision of 22 February 2024 delegated authority to award these contracts to the Executive Director, Finance and Resources.