Purpose

Our current 5 year contract for Insurance
Services ends on 31/03/2025. This contract covers our potential
financial liabilities for a variety of insurance claims, including
our properties, motor fleet and drivers and public
liabilities.

The report sets out two options to provide this cover and asks that
a decision is made on these options, which are:

1) Re-tender the Insurance service contract with a third party
provider, or
2) Self Insure the costs of Insurance claims and costs to repair
damage to our own assets from the Council’s financial
resources.

Additionally, should the decision be made to re-tender, that the
decision in terms of the contract award is delegated to the
Council's s. 151 Officer.

Content

Resolved:
 
That
Cabinet notes:
 

1.   
The insurance lot structure and intended
insurance arrangements;
 
That
Cabinet agrees:
 

1.   
To delegate the award of the relevant contracts
to the winning bidders to the Corporate Director, Resources, in
consultation with the Cabinet Member for Finance, Development
Management, and Strategic Planning.
 
Reason for Decision:
 
Not having insurance cover in place would expose the
Council to significant financial risk.