Issue details

Property Liability and Terrorism Insurance

1.         To award the Corporate Property insurance contract to Protector at an annual premium of £746,800 from the period 1 April 2022 to 31 March 2027 (total estimated maximum premium of £4,032,724 over five years) based on a three-year contract with provision to extend for a further two years.

 

2.         To award the Corporate Terrorism insurance contract to Charles Taylor Services at an annual premium of £65,542 from the period 1April 2022 to 31 March 2027 (total estimated maximum  premium of £325,218 over five years) based on a three-year contract with provision to extend for a further two years.

 

3.         To award the Corporate Liability insurance contract to Zurich at annual premium of £383,086 from the period 1 April 2022 to 31 March 2027 (total estimated maximum premium of £2,068,664 over five years) based on a three-year contract with provision to extend for a further two years.

 

The total maximum value of the three contracts is £6,426,606

 

Decision type: Key

Reason Key: 2. Financial;

Decision status: Recommendations Approved

Wards affected: (All Wards);

Notice of proposed decision first published: 13/09/2021

Decision due: 3 Mar 2022 by Cabinet Member for Finance and Performance

Lead member: Cabinet Member for Finance and Performance

Lead director: Strategic Director: Finance and Investment

Department: Finance and Investment

Contact: Maureen Dennie, Insurance Manager Email: mdennie@lambeth.gov.uk Tel: 020 7926 9846.

Decisions