Issue details

Leasehold Building Insurance Contract

Lambeth are members of the Insurance London Consortium (ILC). In 2012 the ILC published a notice in OJEU for a 60 month Leasehold Building Insurance contract. Lambeth entered into a contract for 48 months and it is now proposed that the Council remains in contract for the additional 12 months.

Lambeth leaseholders will be brought back into line with the other Insurance London Consortium ILC members enabling another full joint procurement exercise to be run for the benefit of Lambeth leaseholders for a contract start date of 01/04/2018.
ILC acquired the best terms offered for Lambeth at the time which was sufficient at 48 months. Insurers (NIG) are now offering the full 60 months as originally requested at expiring rates which is more financially advantageous for our leaseholders.

Decision type: Key

Reason Key: 2. Financial;

Decision status: Recommendations Approved

Wards affected: (All Wards);

Notice of proposed decision first published: 07/10/2016

Decision due: Not before 9 Nov 2016 by Deputy Leader of the Council (Investment and Partnerships)

Lead member: Deputy Leader of the Council (Investment and Partnerships)

Lead director: Strategic Director: Finance and Investment

Department: Corporate Resources

Contact: Maureen Dennie, Insurance Manager Email: Tel: 020 7926 9846.