Decision

The Strategic Director of Resources has decided to approve the contract award for corporate insurances, with an estimated total value of £13,698,635.

Analysis

outcome: The Strategic Director of Resources approved the award of the corporate insurances contracts to the listed suppliers for a period of three years each, with the option to extend for a maximum of two single years, making an estimated total contract value of £13,698,635.

summary: The decision at stake is the approval of the contract award for corporate insurances (property and liability) retender.

topline: The Strategic Director of Resources has decided to approve the contract award for corporate insurances, with an estimated total value of £13,698,635.

reason_contentious: This issue may be contentious as it involves significant financial implications and the selection of specific suppliers, which could impact local stakeholders and raise concerns about transparency and fairness in the procurement process.

affected_stakeholders: ["Suppliers", "Local community", "Taxpayers"]

contentiousness_score: 7

political_party_relevance: There are no mentions or implications of political parties or political influence on the decision.

URL: https://moderngov.southwark.gov.uk/ieDecisionDetails.aspx?ID=8409

Decision Maker: Strategic Director of Resources

Outcome:

Is Key Decision?: Yes

Is Callable In?: Yes

Purpose: Approval of the contract award for the corporate insurances (property and liability) retender

Content: Approval of the contract award for the corporate insurances (property and liability) retender That the Strategic Director of Resources approves the award of the corporate insurances contracts to the suppliers listed below, at the specified estimated annual contract values including Insurance Premium Tax (IPT) and VAT where applicable, for a period of three years each from 1 October 2025, with the option to extend for a maximum additional two single years making an estimated total contract value of £13,698,635 Lot No. Supplier Estimated annual contract value £ Lot 1: Material Damage and associated covers American International Group Ltd (AIG) via Risk Management Partners Ltd (RMP) £1,515,433 Lot 2: Property Owners and associated covers American International Group Ltd (AIG) via Risk Management Partners Ltd (RMP) £265,923 Lot 3: Combined Liability Zurich Insurance Company Ltd trading as Zurich Municipal (ZM) £721,225 Lot 4: Crime Zurich Insurance Company Ltd trading as Zurich Municipal (ZM) £47,174 Lot 5: Personal Accident American International Group Ltd (AIG) via Risk Management Partners Ltd (RMP) £25,992 Lot 6: School Travel American International Group Ltd (AIG) via Risk Management Partners Ltd (RMP) £9,978 Lot 7: Computer HSB Engineering Insurance Ltd via Risk Management Partners Ltd (RMP) £12,901 Lot 8: Motor Zurich Insurance Company Ltd trading as Zurich Municipal (ZM) £141,101  

Date of Decision: September 5, 2025