Decision details
Award of Leasehold Buildings Insurance Contract
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
Purpose:
Where the Council is the freeholder of a
building and has sold residential properties under a long lease it
is required under the terms of the individual leases to insure the
property for buildings insurance purposes. The current leasehold
buildings insurance ends on the 31st March 2016 and this report
summarises the procurement process and suggested changes to the
current policy cover including differentiation of rating between
owner occupiers and those who sublet; and enhanced cover for all
leaseholders whilst achieving premium savings for all
leaseholders
Decision:
1.1. To note Officers’ recommendation that the cover be placed with the successful tenderer, Ocaso S.A on the basis of a 5 year contract, and subject to comments of leaseholders during the second stage consultation under section 20 of the Landlord and Tenant Act 1985 (as amended).
1.2. That authority be delegated to the Cabinet Member for Housing in conjunction with the Joint Lead Directors for Housing to:
a) Award the contract for the provision of building insurance to the successful tenderer for a period of 5 years, on the basis of the option preferred by majority of those leaseholders who respond to the second stage consultation and subject to due regard being taken of the outcome of the section 20 consultation as described in paragraphs 7.3 to 7.5 of this report.
b) Approve any necessary amendments and variations to the contract in light of the consultation.
Report author: Ray Chitty
Publication date: 09/03/2016
Date of decision: 07/03/2016
Decided at meeting: 07/03/2016 - Cabinet
Accompanying Documents:
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