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Decision details

Interim Contract for Leasehold Property Insurance

Decision Maker: Corporate Director of Partnerships, Housing & Residents Services

Decision status: For Determination

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To seek authority to award an interim contract for leasehold property insurance. The interim contract will be subject to a Section 20 consultation, following which the final contract will be awarded.

Decision:

That the Corporate Director Resident Services, in consultation with the Cabinet Member for Housing, Homelessness and Renters Security:

 

i)             Approves the interim award of contract for Leasehold Property Insurance to Arthur J. Gallagher Insurance Brokers Ltd in the sum of £1,244,935.38 in the first contract year and £4,979,741.52 for a further period of four years, making a total of £6,224,676.90 over the contract period if there are no changes to the leasehold property portfolio, inflation, and / or risk levels in the market.

 

ii)            An interim award is required in this instance so as to commence consultation with the leaseholders via the statutory Section 20 Landlord and Tenant Act 1985, Stage 2 Notice.

Reasons for the decision:

As detailed within the accompanying report.

Alternative options considered:

As detailed within the accompanying report.

Interests and Nature of Interests Declared:

None.

Reason Key: Signficant expenditure/savings of £500k or more;

Wards Affected: (All Wards);

Cabinet/Committee Decision or Scheme of Delegation: Delegated authority - Cabinet 16 March 2023

Parties Consulted: As detailed within the accompanying report.

Contact: Kate Daine, Head of Housing and Neighbourhoods Email: Kate.Daine@brent.gov.uk.

Publication date: 22/09/2023

Date of decision: 07/09/2023

Effective from: 30/09/2023

Accompanying Documents:

 

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