Insurance Renewal 2005/6

SUMMARY:

The attached report outlines the terms agreed with the Authority’s brokers, Marsh UK, for the portfolio of insurance policies for 2005/6 financial year. As three of the Long Term Agreements had expired in 2005, a re-tendering exercise was undertaken by Marsh UK on behalf of the Authority. Members will be pleased to note that the cost of this year’s premium represents a total premium reduction of over 12%. Reference is made in the report to those factors which have influenced the renewal terms, not least of all the “good track record and “hands-on” approach to risk management” adopted by this Authority and the work undertaken by Marsh UK.

Insurance Renewal 2005/6 (PDF, 38kb)

IMPLICATIONS:

OPERATIONAL RISK	None
COMMUNITY RISK	None
TRAINING	None
H.R	None
FINANCE	£477,752.52 - within budget provision
I.T/COMMS	None
EQUALITY & DIVERSITY	None
HEALTH & SAFETY	None
LEGAL	None

RECOMMENDATIONS:

1.That the insurance terms, as outlined, within the attached report be approved and

2.That the contract with Marsh UK, acting as the Authority’s brokers, be continued in 2005/6 at the full level shown in the attached table.

BACKGROUND PAPERS USED IN PREPARATION OF THIS REPORT:

Renewal Report 2005/6 produced by Marsh UK

Report Author and Designation	Gareth Thomas
Telephone number/Extension	4405

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