Issue - meetings

Local Government Association Insurance Mutual

Meeting: 28/06/2018 - Cabinet (Item 12)

12 Local Government Association Insurance Mutual pdf icon PDF 109 KB

Report of the Deputy Chief Executive & Director of Finance.

Additional documents:

Minutes:

The Deputy Chief Executive and Director of Finance introduced a report, which had been circulated prior to the meeting, seeking approval to apply to be a founding member of the new Local Government Insurance Mutual.

 

RESOLVED to:

 

1)    Approve the Council’s participation as a Founding Member of the “Local Government Mutual”, which is a new company limited by guarantee, from which to develop an insurance Mutual;

 

2)    Nominate the Deputy Leader to be appointed as a Founding Member committee member of the “Local Government Mutual” to oversee and make strategic decisions in respect of its initial phase of activity pending trading;

 

3)    Delegate authority to the Deputy Chief Executive and Director of Finance to submit the Application for Membership of the “Local Government Mutual” as a Founding Member;

 

4)    Authorise the Deputy Chief Executive and Director of Finance to share the Council’s relevant risk transfer and protection data with the LGA officers working on the project on a strictly confidential basis; and

 

5)    Note that once the new Mutual is established, a report on options and recommendations for the Council to utilise the Mutual will be presented to Cabinet at the appropriate time.