Decision details

To seek Cabinet approval to procure and delegate authority to the Corporate Director of Resources to award the contracts for motor, commercial property, crime, personal accident/travel, school journey insurance and engineering inspection contracts for the Council.

The Portfolio Holder for Finance and Human Resources outlined the content of the report and the Leader

RESOLVED:  That

(1)            approval to procure motor, commercial property, crime, personal accident/travel, school journey insurance and engineering inspection contracts for the Council be agreed;

(2)            the Acting Corporate Director of Resources, following consultation with the Portfolio Holder for Finance and Human Resources, be authorised to award the contracts for motor, commercial property, crime, personal accident/travel, school journey insurance and engineering inspections.

Reason for Decision:  Harrow collaboratively procured its corporate external insurance contracts through the Insurance London Consortium under the terms of a legal agreement effective since 2010.

The decision to insure was driven by the need to protect the financial position and stability of the authority by providing financial protection against losses, which was achieved through insurance risk transfer. In addition, there were statutory requirements in relation to motor insurance and engineering inspections, which would be met through the commissioning of these contracts.

Alternative Options Considered and Rejected:  As set out in the report.

Conflict of Interest relating to the matter declared by Leader /Dispensation Granted:  None.