A report by the Director of Finance provided a review of the Risk and Insurance activity during 2010/11 and plans for 2011/12. It also detailed the current status of the liability, fire and motor claims Insurance Fund and the impact of measures taken to improve the management of risk.

The Cabinet noted, in particular, that as a consequence of their involvement in the Lord Justice Jackson Review during 2010, a Finance officer had been invited by the Ministry of Justice to meet with the Justice Minister to represent the views of local authorities in connection with the consultation process on proposed reforms to civil litigation funding and costs.  Issues under consideration had the potential for a negative impact on the performance of the liability element of the Insurance Fund.  The Council maintained a prominent role throughout the consultation process with further meetings and discussions taking place and, with the consultation process now closed, the outcome was awaited from the Ministry of Justice.

RESOLVED: That

(1)  the transfer of £946,654 from the Insurance Fund to General Fund balances at 31 March 2011 be agreed; and

(2)  the Insurance Team be congratulated on their hard work.