Cabinet:

1. AGREED the award of Lot 1) Property (excluding terrorism), Lot 2) Casualty & FG and Lot 3) Motor, to Bidder B on the basis set out in the report detail.

2. AGREED the award of  Lot 4) PA Group Travel to Bidder A on the basis set out in the report detail

3. AGREED the award of the terrorism element of Lot 1 Property to the supplier providing the alternative Quote 1, as set out in the detail of the report. This exercises the right reserved in the Invitation to Tender not to award to the successful bidder under Lot 1.

4. NOTED the contract award Notices will need to be issued and the Insurance Team will need to mobilise to ensure a smooth transition where the award of a Lot is to a new insurer. New insurance schedules and certificates will need to be received and notification sent to relevant parties, including schools.

Councillor Roger Ramsey presented the report detailing the retender of the Council’s Main Insurance contract to Cabinet.

A joint exercise was carried out with Bexley Council and was split into four lots.  Bids were assessed on price and quality.  One tender was successful in respect of three of the four lots and a separate tender for the final lot..  In addition there was a separate tender for the terrorism cover.  It was noted that it is not an easy time for public sector cover given recent events and low interest rates.

The contract price represents some enhanced cover provision as well as reductions in deductible levels which will reduce the amount the Council pays towards claims.  The contract is for a 6 year period with an option to renew (to a 9 year period, this represents a reduction over the full possible cover term of £1.4 million in premium spend.

Cabinet:

1. AGREED the award of Lot 1) Property (excluding terrorism), Lot 2) Casualty & FG and Lot 3) Motor, to Bidder B on the basis set out in the report detail.

2. AGREED the award of  Lot 4) PA Group Travel to Bidder A on the basis set out in the report detail

3. AGREED the award of the terrorism element of Lot 1 Property to the supplier providing the alternative Quote 1, as set out in the detail of the report. This exercises the right reserved in the Invitation to Tender not to award to the successful bidder under Lot 1.

4. NOTED the contract award Notices will need to be issued and the Insurance Team will need to mobilise to ensure a smooth transition where the award of a Lot is to a new insurer. New insurance schedules and certificates will need to be received and notification sent to relevant parties, including schools.