Decision details

Cabinet noted that a tender process had been carried out to obtain best value for the Council’s insurance arrangements.  The tenders had been evaluated and it was recommended to place the majority of the insurance programme with Zurich Municipal (current insurer), with the exception of the Fine Art policy which would go to WRB Syndicate via Blackwall Green effective from 1 January 2017.

Cabinet was informed that to mitigate against the risks identified it would be necessary to budget above inflation for future increases in premiums.  It was proposed that the Council have a contingency sum within the Council’s budget.

Under Standing Order 34, Councillor Pope sought information on the use of the Brokers as part of the tender process.  It was explained that their expertise was used in drawing up the tender documentation and evaluation of the tender.  They were paid a fixed fee for this service.

A discussion was held on the tender process and the detail of the tender price and that in future years with the Council’s options for re-tendering should it be necessary, with the potential option in the future for a framework agreement to sign up to.

RESOLVED:               1)       That the signing of contract(s) with Zurich Municipal (current insurer), with the exception of the Fine Art policy to go to WRB Syndicate via Blackwall Green effective from 1 January 2017 be approved.

2)         That the Council hold a contingency sum within the Council’s budget of for insurance purposes as set out in the report.

Reason for Decision

To ensure that the Council maintains necessary insurance cover for its operations and complies with Public Contracts Regulations.