Decision Maker: Executive

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: February 3, 2025

Purpose: This report considers the tenders received for the provision of Insurance Services for Fareham Borough Council.  The report recommends an award of contract for the services.    Ten Borough and District councils in Hampshire have worked collaboratively to procure insurance services from 1 April 2025 using an Open Procedure in accordance with the Public Contracts Regulations 2015.    The current cost of insurance across the 10 borough and district councils in Hampshire is £4.7 million a year and for Fareham Borough Council £531,000.   This report provides the Executive with information regarding the tenders received and seeks an award of contract for a 3-year long term agreement with the option to extend for a further 2 years for the provision of insurance services.

Content: RESOLVED that the Executive agrees:   (a)  to award the contract to the winning insurer of each Lot, as set out in confidential Appendix A to the report, being the most economically advantageous tender received; and   (b)  that authority be delegated to the Assistant Director (Finance & ICT) to accept the finalised premiums and associated costs or make alternative arrangements in the event that the tender cannot be accepted by other participating local authorities.