Decision details

Leasehold Building Insurance Contract

Decision Maker: Deputy Leader of the Council (Finance and Resources)

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

Lambeth are members of the Insurance London Consortium (ILC). The members of ILC have been very successful in procuring its insurance policies to date. The leasehold building insurance policy is expiring on 31st March 2018. This procurement will ensure that the council maintains continuity of cover and allow us to have in place an appropriate and comprehensive insurance policy to protect the council’s liabilities and properties in accordance with the terms of our Lease.

Decision:

1.            To award the Leasehold Building insurance contract to AJG/NIG at an annual premium of £2,674,040 from the period 1st April 2018 to 31st March 2023 (total estimated premium of £13,370,201 over five years).

 

Publication date: 23/02/2018

Date of decision: 05/03/2018

Effective from: 13/03/2018

Accompanying Documents: