The Interim Director of Finance provided a review of the Risk and Insurance activity during 2011/2012 and the plans for 2012/2013 and beyond. The review detailed the underwriting arrangements and recent loss histories for the principal areas of insured risk and described the impact of measures taken to improve their management. The provisions and reserves within the Insurance Fund at the end of 2011/2012 were confirmed, which included the release of resources to the General Fund. He indicated that his report had been considered by the Cabinet, who had agreed (minute 12 (21 June 2012) refers) –

·  to a sum of £166,352 being released from the Insurance Fund to the General Fund balances; and

·  to the Risk Management reserve being restored to a balance of £150,000.

Resolved – That the report be noted.