Issue - meetings

 Report by Dr Carlton Brand and Carolyn Godfrey, Corporate Directors

           Cabinet member Cllr Dick Tonge presented a report which set out the options available to the Council following the end of the current insurance services contract on 1st April 2015.

Cabinet was asked to determine whether to continue to purchase Insurance cover with a third party provider or whether to cover the full costs of all insurance claims and costs to repair damage to the Council’s own property from its own financial resources.

Details of the terms of the existing contract were presented, along with the options now being considered, namely, buying Insurance cover from a third party provider or to self insure.

Resolved:

(a)          To continue with insurance cover with a third party provider.

(b)         To delegate the decision on which lots to procure and which to self insure to the Cabinet Member for Finance and the Associate Director for Finance.

Reason for decision

Not having insurance cover in place would expose the Council to significant

financial risk.