Decision details

Insurance Contract Award

Decision Maker: Executive Director - Commercialisation (S151)

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To accept the bids from 5 Suppliers, across 9 different Lots, at a total annual value of £193,141.04 on the basis of a 3 Year Long Term Agreement, with the option to extend for a further 2 years.

Decision:

1.    That the Council enters into a Long Term Agreement with the 5 suppliers, as detailed in 2.1a to 2.1e;

 

2.    That the Council enters into agreements on the basis of all Lots on a 3 Year Long Term Agreement, with the option to extend this for a further 2 years.

Reasons for the decision:

1.    The current Long Term Agreement expires at midnight on 3 May 2019.  A contract award is required in order to ensure that we maintain continuous insurance cover.

 

2.    By splitting the tender into separate lots, this has given the council the opportunity to get the best offer possible whilst also accepting bids from specialist suppliers in Lots such as Terrorism and Engineering Inspections.

Alternative options considered:

Option 1 – Having carried out the tender exercise which included a qualitative assessment based on price and other aspects contained within each tender bid, accept the bids from the 5 suppliers as set out below:

 

a)    Aspen Insurance (Lot 1 – Property/Business Interruption - £59,282.47);

b)    Travelers Insurance (Lot 2 – Liabilities - £45,179.69, Lot 4 – Motor Fleet  - £71,243.19, Lot 5 – Motor Legal Expenses - £443.52 & Lot 8 – Liability Claims Handling - £1,295.00);

c)    Zurich Municipal (Lot 3 – Fidelity Guarantee - £2,164.40 & Lot 7 – Personal Accident - £2,290.41);

d)    Speedy Asset Services (Lot 6 – Engineering Inspection - £6,570.00);

e)    Inperio (Lot 9 – Terrorism First Loss - £4,672.36).

 

Option 2 – Do nothing – this is not considered a viable option as SHDC must be insured.

Interests and Nature of Interests Declared:

None.

Reason Key: Incurring expenditure above £75,000 threshold in respect of revenue/£180,000 in respect of capital;

Wards Affected: (All Wards);

Conflict of Interest: It is the officer's opinion that there are no conflicts of interest.

Contact: Samantha Knowles, Strategic Finance and Compliance Manager Email: SKnowles@sholland.gov.uk.

Publication date: 24/04/2019

Date of decision: 24/04/2019

Effective from: 02/05/2019

Accompanying Documents: