Cabinet:

1. Agreed the extension of the Main Insurance Contract with the existing suppliers for 1+1+1 years based on the indicative terms as set out in the report detail.

2. Delegated authority to the Insurance Manager in consultation with the Strategic Director of Resources to agree final terms and agree the extensions on an annual basis during the 36-month extension period.

3. Noted the progress made in identifying and compiling available property risk information and the need to invest in improving the level of detail available including surveys and valuation programme.  

The report seeks Cabinet approval to extend the main insurance contract following expiry of the initial six-year period on 30^th June 2024 based on an indication of terms. The contract commenced on 1^st July 2018 and awarded by Cabinet on 13^th June 2018 with an option to extend for up to three years from 1^st July 2024.

There are three suppliers across the main insurance contract of four lots, Lot 1) Property, Lot 2) Casualty & FG, Lot 3) Motor and Lot 4) PA Group Travel. Revised terms and an indication of premium cost, based on the risk exposure at 1^st Jul 2023 renewal has been provided to inform the contract extension decision.

"It was confirmed with Councillor Goode that he had indeed received the restricted papers that were within his Agenda Pack."

Cabinet:

1. Agreed the extension of the Main Insurance Contract with the existing suppliers for 1+1+1 years based on the indicative terms as set out in the report detail.

2. Delegated authority to the Insurance Manager in consultation with the Strategic Director of Resources to agree final terms and agree the extensions on an annual basis during the 36-month extension period.

3. Noted the progress made in identifying and compiling available property risk information and the need to invest in improving the level of detail available including surveys and valuation programme.