Issue - decisions
Interim Contract for Leasehold Property Insurance
22/09/2023 - Interim Contract for Leasehold Property Insurance
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.