Issue - meetings

The Executive are recommended to make the resolutions set out in the report at agenda item 11.

Co-Portfolio Holder for Housing (Operations and Services)

The Executive RESOLVED to

       I.          Approve the renewal of the right to buy leasehold insurance policy with Proctor Insurance for one year (April 2024 – March 2025) at the estimated value of £105K.

Councillor Paul Rivers introduced the report, and explained that it was the Council’s responsibility to provide building insurance to its 480 Right to Buy leaseholders. The council’s current policy, held with Proctor Insurance, would expire in April 2024, and Officers had been advised by the Council’s insurance broker of the difficulty in sourcing alternatives. The Leader concurred and was of the view that the proposal was reasonable.

There being no further discussion, the Executive RESOLVED unanimously to:

       I.          Approve the renewal of the right to buy leasehold insurance policy with Proctor Insurance for one year (April 2024 – March 2025) at the estimated value of £105K.

Reasons:

The Council is responsible for providing building insurance for the 480 Right to Buy leaseholders who are recharged for the service.