{meta} Decision - Request for Approval - Insurance Policy and Cover Renewals

Decision details

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Decision:

Salford City Council - Record of Decision

 

I Paul Dennett, City Mayor, in exercise of the powers contained within the Council Constitution do hereby approve the Insurance renewal recommendations- along with the proposed expenditure- on the basis that it provides value for money and continuity of cover.

 

Detail required

Answers

Title/Description of Contracted Service/Supply/Project

Catastrophe cover for the Council’s main classes of insurance including liability , property & Motor Fleet

Name of Successful Contractor

AIG, ACE, AXA, ASTA, HSB and QBE

Supplier Registration Number

(to be supplied by Corporate Procurement)

Type of organisation

(to be supplied by Corporate Procurement)

Private Limited Company

Status of Organisation

(to be supplied by Corporate Procurement)

SME

Contract Value

£1,465,838.34

Includes 12% insurance premium tax

Per Annum (estimated average)

Contract Duration

60 months

Contract Start Date

01/12/2017

Contract End Date

31/01/2022

Optional Extension Period 1

N/A

Optional Extension Period 2

N/A

Who will approve each Extension Period?

Procurement Board (extension > £150k)

Contact Officer (Name & number)

Cliff Peacock  Tel 0161 607 6980

Lead Service Group

Service Reform & Development

How the contract was procured?

(to be supplied by procurement)

Full Tender

Framework Details (where applicable)

(procurement body, framework reference & title, start/ end date

N/A

Funding Source

Revenue Budget

Ethical Contractor

Mayor’s Employment Charter

Committed to sign up to the Charter

X

 

Accredited Living Wage Employer

 

 

 


 

The Reasons are that on the 1st February 2021 the Council’s main classes of insurance business, i.e., Liability, Property and Motor policies fall due for renewal. Insurance policies are currently subject to a discounted Long Term Agreement (LTA) expiring on 31st January 2022, and they provide continuity of cover.

 

Options considered and rejected were

N/A/

 

Assessment of Risk -Insurance cover is purchased as a risk transfer mechanism where the authority feels there is too great a risk in funding a potential occurrence.

 

The source of funding is the revenue budget

 

Legal Advice obtained - yes

Financial Advice obtained – outstanding

Procurement Advice obtained- yes

 

HR Advice obtained

No

 

Climate Change Implications obtained

No

 

The following documents have been used to assist the decision process.

AON insurance report

Schedule of Properties

In House Claims Handling Return

Motor Fleet Schedule

Estimated Annual Wageroll figures

Annual Governance Statement 2019-20

Council Constitution 2020

GM Business Continuity 

SCC Housing Strategy 2020-2025

Mayor’s Register of Executive Functions delegated to Chief Officers – 2020

Mayor’s Register of Executive Functions delegated to Lead Members - 2020

Procurement Strategy 2017-19

Public Rights Notice

Emergency Planning and Business Continuity Update Report 2020

SCC – Statement of Accounts 2019-20

RIDDOR Incidents

 

Contact Officer: Cliff. Peacock

Telephone number: 0161 607 6890

 

 

·       This matter is not subject to consideration by another Lead Member.

·       The appropriate Scrutiny Committee to call-in the decision is the Overview and Scrutiny Board

 

 

Signed:         PAUL DENNETT               Dated:  7th January 2021.

                    City Mayor

 

FOR DEMOCRATIC SERVICES USE ONLY

 

*         This decision was published on 7th January 2021.

*         This decision will come in force at 4.00 p.m. on 14th January 2021 unless it is called-in in accordance with the Decision Making Process Rules.

 

Publication date: 07/01/2021

Date of decision: 06/01/2021

Decided at meeting: 06/01/2021 - Procurement Board

Effective from: 15/01/2021

Accompanying Documents: