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]