Issue - meetings

The Cabinet Member for Finance, Performance and Core Services introduced a report on proposals relating to the Council’s insurance cover contracts.

The Council's existing main insurance contracts were due to expire on 30 June 2022.  To bring the contracts in line with the standard accounting period, it was proposed to extend the current contracts to 31 March 2023 and procure new contracts commencing 1 April 2023.  The new contracts were likely to be awarded to multiple providers and forecasts indicated that total expenditure over the potential five-year period would be approximately £7.3m.

Cabinet resolved to:

(i)  Agree the extension of existing insurance contracts due to expire on 30 June 2022, listed in paragraph 1.4 of the report, to 31 March 2023 for the reasons set out in the report;

(ii)  Agree that the Council proceeds with the procurement of new insurance contracts, to commence from 1 April 2023, in accordance with the strategy set out in the report; and

(iii)  Authorise the Finance Director, in consultation with the Cabinet Member for Finance, Performance and Core Services and the Director of Law and Governance, to conduct the procurement and award and enter into the contract(s) and all other necessary or ancillary agreements with the successful bidder(s), in accordance with the strategy set out in the report.