Issue - meetings

A report from the Director of Finance, Resources and Customer Services is attached. This seeks approval to award the contract to the recommended bidders. (Report No.118, agenda part two also refers) (Key decision – reference number 3810)

(Report No.117)

(8.45 – 8.50 pm)

Councillor Andrew Stafford (Cabinet Member for Finance and Property) introduced the report of the Director of Finance, Resources and Customer Services (No.117) seeking approval to award the Council’s Insurance Contract.

NOTED

1.               That Report No.118 also referred as detailed in Minute No.21 below:

2.               That the external insurance contract was due to expire on 31 March 2014. The Council had recently reviewed its insurance arrangements and had commenced a tender exercise to procure a new contract, to begin on 1 April 2014.

Alternative Options Considered: NOTED the alternative options which had been considered as detailed in section 4 of the report, in relation to total self-insurance; joint procurement; and, insurance services framework agreement.

DECISION: The Cabinet agreed to

1.               Award the contract to the recommended bidders as detailed in paragraph 3.4.3 of Report No.118, Minute No.21 below refers.

2.               Note the savings achieved through this tender exercise.

Reason: To ensure that the Council complies with legislative requirements and that adequate financial protection for the Council exists in the event of a major loss.

(Key decision – reference number 3810)