The Manager: Insurance and Risk introduced the report of the Assistant Director: Finance that set out progress made since his previous report in relation to key actions planned for 2017/18.

The Manager: Insurance and Risk informed that whilst the need to conduct a competitive tender exercise for a large element of the programme as indicated in paragraph 3.2.7 of the report could lead to lower costs it did create uncertainty in the forecasting of the Council’s insurance costs for 2018/19 and beyond. The report informed that if a large number of schools were to convert to academies the pool of contributors to the Insurance Fund would decrease. Over time this could reduce the authority’s buying power and the degree to which it could of self-insure. This in turn could increase the cost of financing insurable risk. However officers remained vigilant to potential conversions and would be making changes to the authority’s arrangements to ensure that potential negative impacts were gradual and limited wherever possible.

Resolved – That the report be noted.