Decision details

Reduction in value of professional indemnity insurance for low risk feasibility study work

Decision Maker: Head of Maritime and Technical Services, Director of Financial Services

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decision:

To reduce the required value of professional indemnity insurance for the proposed Port of Ramsgate High Level Feasibility Study from the Council’s standard value of £2.0m to £0.5m.

Reasons for the decision:

The output of this high level study represents a relatively low risk in terms of the scope of services provided and a professional indemnity value of £0.5m is more appropriate.

Alternative options considered:

The alternative would be to retain the standard of insurance cover at £2.0m. However this is considered high when compared with the overall value of the contracted service which is less than £40k. Over specifying the insurance requirement may lead to increased project cost.

Publication date: 15/10/2019

Date of decision: 15/10/2019