Decision details

To approve the commencement of the procurement process to re-tender the Council’s existing property insurance portfolio. The existing contract expires on 31 March 2017.

The Acting Executive Director, Resources approves the procurement of property insurance for the Council’s portfolio of property assets via an OJEU compliant competitive tender exercise.

This is the preferred option due to the significant financial risks associated with loss of high value, strategically and operationally important property should insurance cover not be available to meet the cost of repairs.

The desired outcome is to secure the best available terms from the insurance market to continue protection of the Council’s property assets.

We will tender on a range of insurance options and the selection of the preferred method will be subject to Executive sign off. The only other option is not to insure which is not a realistic option due to the significant financial risk.