Issue - meetings

RESOLVED:

That a contract be awarded for the provision of Commercial and Industrial Properties Insurance Service to Protector Insurance, starting from 1 April 2018, for a period of three years with the option to extend for up to a further two years. The estimated annual value of the contract was £115,285, plus 12% insurance premium tax.

Reasons for Decision

The current contract for commercial properties was expiring on 31 March 2018 and putting a new contract in place ensures there is appropriate insurance cover for the commercial property portfolio owned by the Council and its subsidiary, Halsey Garton Property Ltd.

This recommendation provides best value for money for Commercial & Industrial Properties insurance for the Council following a thorough evaluation process.

[The decisions on this item can be called in by the Corporate Services Select Committee]

The Cabinet Member for Property and Business Services introduced the report that sought approval to award a contract for the provision of Commercial and Industrial Properties Insurance Cover for Surrey County Council.  This provision was to commence on 1 April 2018, following the expiration of the current arrangement with Zurich Municipal on 31 March 2018.  By awarding a new contract to the recommended provider, the Council would meet its obligations to provide insurance cover for the Council and ensure best value for money for this service.  The report set out details of the procurement process, including the results of the evaluation process and why the recommended contract award delivered best value for money.

Due to the commercial sensitivity involved in the contract award process, all financial details had been circulated as a Part 2 report.

RESOLVED:

That a contract be awarded for the provision of Commercial and Industrial Properties Insurance Service to Protector Insurance, starting from 1 April 2018, for a period of three years with the option to extend for up to a further two years. The estimated annual value of the contract was £115,285, plus 12% insurance premium tax.

Reasons for Decision

The current contract for commercial properties was expiring on 31 March 2018 and putting a new contract in place ensures there is appropriate insurance cover for the commercial property portfolio owned by the Council and its subsidiary, Halsey Garton Property Ltd.

This recommendation provides best value for money for Commercial & Industrial Properties insurance for the Council following a thorough evaluation process.