Notts County Council has secured a new deal on its insurance policies which could save taxpayers £650,000 over the next five years but still provide the Council with better cover.
The new agreements come into effect on 1st May and will last for three years, with the option to extend them for a further two years. The policies cover areas such as liabilities, motor and property.
The authority says the better deals have been secured at a time when insurance companies are generally quoting higher premiums.
Using a one council, one team approach, officers from across the authority have been working on the tender since last summer.
Paul Simpson, service director for finance and procurement, said: “With reducing income and increasing costs because of greater demand for some of our services, it is vital that the Council reduces all other costs wherever it is practical so that we have as much money available as possible for frontline services.”
A report providing information on the new insurance tender will be presented to the County Council’s Finance and Property Committee on Monday 22 April. The report is available to download now from the Council’s website, www.nottinghamshire.gov.uk