The Director of Finance advised Cabinet on the procurement process for the Computer insurance contract and the Liability insurance and claims handling contracts and recommended the awarding of the Liability contract to Zurich Municipal and the Computer policy to Risk Management Partners. The contracts would be for up to seven years effective from 1 April 2010 and would save approximately £170,000 per year. The maximum self insured financial exposure to liability claims would also be reduced by 30% to £2.5m per year.

Resolved – That,

(1) the Liability Insurance and Claims Handling contract be awarded to Zurich Municipal for an initial period of three years commencing 1 April 2010, retaining the options to extend for two further periods of two years;

(2) the Computer insurance contract be awarded to Risk Management Partners for an initial period of three years commencing 1 April 2010, retaining the options to extend for two further periods of two years;

(3) the budget reduction of £170,000 be agreed.