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The Council has a five year LTA for the provision of its insurance cover; however during the period of insurance the premiums payable are reviewed and agreed on an annual basis. Premiums for 2021/22 have been agreed following discussions with Marsh, the Council’s Brokers and Zurich Municipal
Following these discussions, the annual premiums for 2021/22 have been agreed at a total cost of £824,407.80. This is based upon a detailed review of insurable items and also includes IPT at the appropriate rate (12%).
The decision to agree the premiums is delegated to the Corporate Director of Finance and Resources
The annual cost of the Council’s insurance for 2021/22 will be met from within base budgets earmarked for this purpose and other revenue budgets.
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