To approve insurance cover renewal arrangements from 1^st October 2019 following a tender process via the Insurance Services 2 - Crown Commercial Services (CCS) framework agreement.

That:

(a)  the placing of the council’s insurance business be approved at a cost of approximately £572k per annum (including Insurance Premium Tax (IPT)) for a maximum five year period 1 October 2019 to 30 September 2024 to include the following individual contract arrangements:

                    i.        Material damage (with an excess of £50k) is placed with AIG via Risk Management Partners (premium £176k including IPT) and contractors all risk is placed with HSB via Risk Management Partners (annual premium £6k including IPT);

                  ii.        Fidelity guarantee is placed with Zurich Municipal (annual premium £6k including IPT);

                 iii.         Combined liability (including professional negligence, officials and members indemnity and hirer’s liability) with an excess of £50k is placed with QBE via Risk Management Partners (annual premium £323k including IPT);

                 iv.         Motor fleet (including uninsured loss recovery) is placed with Zurich Municipal (annual premium £32k including IPT);

                  v.        Engineering (including inspection and insurance) is placed with HSB via Risk Management Partners (annual premium £6k including IPT);

                 vi.         Personal accident (including business travel) is placed with Zurich Municipal (annual premium £3k including IPT);

               vii.         Computer is placed with HSB via Risk Management Partners (annual premium £3k including IPT); 

              viii.         Claims handling for liability and motor – Gallagher Bassett via Risk Management Partners to be appointed (annual premium £16k).

1.            There are no alternative options as all other received tenders cannot be accepted without the significant risk of procurement challenge.

2.            There is no option to extend the current insurance, which expires on 30 September 2019. Without agreeing to this recommendation, the council will not hold valid certificates of insurance.