The Senior Risk and Insurance Officer, Mike Lane introduced a report of the Director of Finance and Investment that set out the key actions to be taken in relation to corporate risk and insurance management during 2018/19 and highlighted any key decisions that needed to be made. Recent progress made in relation to key actions planned for the current year was also included.

The report informed that regular update reports would continue to be presented to the Committee on work in relation to risk management and insurance in support of the Risk Management framework, thereby maintaining the successful management of the Council’s insurance programme.

The Senior Risk and Insurance Officer highlighted that clarification on the actuarial study that had confirmed that the funds held by the authority to cover Liability claims should be sufficient to meet the liabilities that it will have at the end of the current financial year. He added that more detail on the study was to be reported to the Audit and Risk Management Committee in July as part of the Insurance Fund Annual Report. The Senior Risk and Insurance Officer also informed that the study recommended that the annual contribution to the Insurance Fund should be increased in the coming years to cover rises in the cost of self-insured claims, and that this had been reflected in the forecast of the Council’s Liability insurance costs for 2018/19.

Resolved – That the report be noted.