Insurance Tender renewal

The Council has reviewed the Insurance Contract arrangements and sought to identify a range of firms to provide specific elements of cover, rather than going to one broker. This approach secured significant cost savings for the council based on the previous years costs of 31%, whilst providing an enhanced depth of protection including an increase of the Level of Indemnity cover to £50 million. The project was led by the Interim Head of Compliance and Insurance and Risk Manager, and is part of the Council’s ongoing pursuit of VFM and achievement of economy, effectiveness and efficiency.

Thanks to the Isle of Wight Council for this example