The management of the Council's Insurance and Risk Management practices is carried out by the Corporate Services Section of the Borough Treasurers Department.

Insurance

The Council maintains a number of insurance policies to safeguard its staff and its assets, and also provide compensation in the effect of an accident involving a member of the public. The principal area of insurance cover are:

• Property - Fire and Special Perils cover for all Council owned buildings/contents, including the Pier Pavilion, commercial properties and factory units. The policy also incorporates cover for loss of revenue, computer equipment, money risks and accidental damage risks.
• Liability - Employers and public (third party) cover with an indemnity level of £25,000.000 on each policy. This provides insurance cover for the legal liability of the Council to pay compensation for injury to an employee, or in respect of accidental damage to the property of a third party or from an injury to a third party whilst on Council owned premises.
• Motor - Comprehensive cover for the vehicle fleet which comprises of refuse and street sweeping vehicles, pest control and dog warden vehicles.

Risk Management

In order to keep premium expenditure to a minimum and to reduce the number and level of risks which the council can be exposed to from time to time, it is necessary to manage and control all areas of insurance where potential losses can occur. The key principle of Risk Management is to tackle potential problems before they arise and to mitigate any losses. Without this measure the cost of any loss or future renewal premiums could be greatly increased.

ALARM

The Council is a member of the Association of Local Authority Risk Management which is a National Forum which seeks to exchange information between Local Authorities and at the same time give advice on handling all areas of Insurance and Risk Management.

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