The Head of Financial Services has submitted a report concerning the future provision of the Council’s Insurance Services contracts which seeks a change to a previously granted delegation.

Cabinet is recommended to:

1.        Approve amended delegatedauthority to the Head of Financial Services in consultation with the Head of Law and Governance to award a contract for the provision of insurance services to Oxford City Council and group companies from 1st February 2024 for a period of 3 years with options to extend for up to 2 periods of 2 years each, following a compliant procurement exercise.

The Head of Financial Services had submitted a report concerning the future provision of the Council’s Insurance Services contracts which sought a change to a previously granted delegation.

Councillor Ed Turner, Cabinet Member for Finance and Asset Management, outlined that an opportunity had arisen to extend the period of the Council’s existing insurance contract.  This would be financially beneficial but required a change to the timescale for procuring a new contract and to the relevant delegated authority.

Cabinet resolved to:

1.        Approve amended delegatedauthority to the Head of Financial Services in consultation with the Head of Law and Governance to award a contract for the provision of insurance services to Oxford City Council and group companies from 1st February 2024 for a period of 3 years with options to extend for up to 2 periods of 2 years each, following a compliant procurement exercise.