To consider a report of the Executive Member for Finance.

1. That the Council’s participation as a Founding Member of Local Government Mutual be supported and the Leader and Executive Member for Finance be nominated to be Founding Member committee members.

2. That the Corporate Director, Finance and Systems be authorised to share the Council’s relevant risk transfer and protection data with the LGA officers working on the project on a strictly confidential basis.

3. That it be noted that officers will consider the business case for utilising the Mutual at the appropriate time and to request them to report accordingly to the Executive on the same prior to any further decision being taken in relation to participation in the Mutual.

The Executive Member for Finance submitted a report which set out details in relation to the establishment of a Local Government Mutual which would offer comparable cover against insurable risks to local authorities at competitive rates. In discussion, reference was made to similar historic initiatives; the Executive was advised that the Council’s Founding Member status would leave it well placed to ensure that the agreed business case would mitigate any potential risk.

            RESOLVED -

(1)        That the Council’s participation as a Founding Member of Local Government Mutual be supported and the Leader and Executive Member for Finance be nominated to be Founding Member committee members.

(2)        That the Corporate Director, Finance and Systems be authorised to share the Council’s relevant risk transfer and protection data with the LGA officers working on the project on a strictly confidential basis.

(3)        That it be noted that officers will consider the business case for utilising the Mutual at the appropriate time and to request them to report accordingly to the Executive on the same prior to any further decision being taken in relation to participation in the Mutual.