North Ayrshire Council save on their insurance bill

Feb 20 2009 by Lex Brown, Irvine Herald

NORTH Ayrshire Council have taken out a £1.4m insurance policy to cover their property, motor, engineering and statutory liabilities.

The council have saved more than £400,000 by lumping the cover together and their good claims record.

They have signed up with current insurers Zurich Municipal after considering two tenders.

The new deal will run for three years with future premiums based on the level of claims and the valuation of the authority’s property portfolio.

It will increase their liability from £5m to £25m but will not cover terrorism.

In a report to the executive, corporate director Alasdair Herbert said the savings would be split between the general services and housing accounts.

He said life, personal accident and travel insurance would be covered by other policies.

Mr Herbert went on: “We are committed to achieving best value by purchasing quality services at the best possible cost and, where reasonable, balancing the purchase of insurance with the retention of risk within the authority.”