The report of the Interim Director of Finance confirms the procurement process for the Property and Personal Accident insurance contracts and makes recommendations as to the award of these contracts. Cabinet on 14 March 2013 (minute 217 refers) agreed that the Leader be authorised to take this decision under Delegated Authority and the report requests consideration be given to which of the available options on which insurers have quoted should be accepted. The contracts are for an initial period of 3 years with the option to extend for a further 1 + 1 year effective from 30 June 2013.

In each case the company’s submission has been evaluated as the most economically advantageous tender.

The premium savings associated with the variations in cover are considered to outweigh the Council’s increased financial responsibility for the risks concerned.

The Cabinet considered the report of the Interim Director of Finance outlining the key dates for the procurement exercise in relation to property and personal accident insurance tender, Councillor P. Davies, Cabinet Member for Finance introduced the report which sought permission to delegate authority for the award of these contracts to the Portfolio holder.

RESOLVED: 

That the Portfolio Holder be authorised to accept the tenders in relation to property and personal accident insurance.