The Portfolio Holder for Assets and finance advised Cabinet of the Authority’s insurance requirements being put out to tender and to request the delegation of authority to the Executive Director Finance (EDF) to approve the acceptance of the successful submission
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RESOLVED |
That Cabinet; |
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1 |
Endorsed the contract brief for the procurement of Insurance contracts |
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2 |
Delegated authority to the Executive Director Finance, in consultation with the portfolio holder, to appoint the successful insurer and to undertake any negotiation with the insurer to finalise the contract |
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3 |
Approved the continual use of the insurance reserves for self-insurance liabilities |
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4 |
Endorsed the Executive Director Finance to use part of any premium reductions achieved to maintain funds at an appropriate level to cover the potential impact on revenue budgets of increased excesses
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(Moved by Councillor D Cook and seconded by Councillor J Chesworth)