URL: https://democracy.lichfielddc.gov.uk/ieDecisionDetails.aspx?ID=756

Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Purpose:

Content: The Cabinet:   1.1 Cabinet considers and agrees to the following next steps concerning structural insurance and consequential loss:   1.1.1 Commissions external specialist advice as to whether the mitigations we’ve actioned are adequate to reduce the risk to a level that could be tolerated   1.1.2 Continue to seek to procure structural insurance via continuing discussions with our corporate insurer and engaging with alternative providers   1.1.3 If we are unable to procure structural insurance and the risks haven’t been mitigated to a tolerable level (see 1.1.1), a paper will come back to Cabinet recommending to Full Council an increase in the Minimum Level of Reserves from the approved level of £2m to allow us to self-insure.   1.2 Cabinet delegates the signing of the 50-year lease with Network Rail to the Cabinet Member for Visitor Economy, Ecology and Climate Change in consultation with the Chief Operating Officer and the Director of Finance, Regulation and Enforcement, subject to: 1.2.1 Adequate and appropriate public liability insurance being in place; 1.2.2 The steps outlined at recommendation 1.1 are actioned and concluded; 1.2.3 Any financial implications being contained within approved budgets.; and 1.2.4 A maintenance sinking fund being established for the project.

Date of Decision: June 23, 2025