2. Insurance Services

Insurance Services - National Project 

Buying Solutions and Firebuy are currently developing a national category strategy for insurance services for the public sector by adopting a full category management approach and to establish a better understanding of the cost of insurance to the public sector.  

Currently significant research is taking place with both the insurance supply sector and public organisations, this research will help to shape the solutions which can be developed to support the public sector’s requirement for commercial insurance products and services in the future and ultimately support more appropriate risk management within the public sector.

Public sector organisations must also manage risks and the risk management approach may include commercial insurance products or the organisation may decide to cover some or all of the risks with “self-insurance”.  The new national framework will be in existence from 2011, key national contacts are;

The National stakeholder group meets every two months to shape the project, Buying Solutions contacts are as follows;

David.pyle@buyingsolutions.gsi.gov.uk

clare.tunnicliffe@buyingsolutions.gsi.gov.uk 

To view the national insurance questionnaire click here

District Authorities save £1.7m by collaborative Insurance
 

In 2008 five Worcestershire District Councils

came together to jointly tender their insurance

requirements, they were later joined by a further

two authorities to form a seven authority

insurance cluster to go into the market. This

insurance cluster formed part of a regional pilot

project to seek to obtain best value on insurance

and to stimulate the marketplace. Download Case study

Project Meetings

Insurance Services - How to be Successful Guide

This guide is published by the Regional Centres of Excellence Procurement Programme which is seeking to transform procurement and deliver major efficiencies in the £42 billion that local government spend on goods and services. Download Guide

How are savings achieved

Assessment of risk to your authority

Be aware of what risks your authority wishes to cover

Collaborate with a partner/partners in other authorities

Delivery of savings
 

FAQ’s

Q1. My insurance is running well, why change?

A1. Costs of insurance are consistently increasing, savings opportunities for your authority should be persuaded.

Q2. There is limited evidence of any savings that can be achieved by joining together as a cluster or consortia.

A2. The Wellend Partnership in the East Midlands have recently generated significant savings via cluster approach. West Sussex Police have also generated savings via a consortia approach and recent research with insurance underwriters has revealed that there are a range of savings opportunities that can be achieved by working as a collective.

The Worcestershire Districts and Staffordshire Moorlands have secured savings of up to £1.7m

Q3. Will my insurance costs increase if I join a cluster with local authorities that have higher liabilities?

A3. No, although you will be part of a larger procurement, you will still have your own personal schedule. You will therefore have the benefits of a higher spend but also a personalised approach.

Q4. If I wish to join a cluster, do i have to standardise my cover levels?

A4. No, however your group may save more money if you do due to standardisation.

Q5. Can we still use a Broker?

A5. Yes, you may wish to jointly appoint this function.