Property Insurance.

Descriptions

The City of Edinburgh Council assets are publicly owned; it requires to protect these by means of a suitable insurance programme.The Council currently insures its owned and operational buildings (lot 1) for the perils of fire, lightning, explosion and aircraft with a 250 000 GBP excess. Since the commencement of the current long- term agreement there have been no claims above the excess under the owned and operational policy.The Council also currently insures leased-out industrial and commercial properties (lot 2) as well as leased-out theatres (lot 3) for the perils of fire, lightning, explosion and aircraft with a Nil excess, all other perils with a 250 GBP excess.It is intended to agree a new long-term agreement with the successful tenderer(s) for a period of 5 years with 2 2-year discretionary extensions.It is intended to continue with a three lot structure:1 Owned and operational properties,2 Leased-out industrial and commercial properties,3 Leased-out theatres.