Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
It is necessary to put in place appropriate
insurance cover during the construction phase of the refurbishment
of the former library on Union Street (now known as OMA)
RESOLVED - That:
•The Contract Certain Quotation for Owner Controlled Insurance
Programme (OCIP) cover, as submitted by Tokio Marine Europe in
relation to the refurbishment of the former library on Union
Street, is purchased at an agreed cost;
•An OCIP premium ceiling is set to accommodate any future
increase in project cost, length or risk, with increases beyond the
ceiling requiring further approval.
Option 1 - Do nothing. To not put insurance in
place will financially expose the Council should the building be
damaged as a result of an incident such as a fire.
Option 2 - Purchase insurance to provide the necessary cover for
the building refurbishment works
Option 1 - do nothing
Other reasons / organisations consulted
The following Council sections were
consulted:
- Risk and Insurance Team
- Legal Team
- Finance Team
- Property Team
- Corporate Governance Team
Contact: Brian Enright, Principal Regeneration Officer 0161 770 4298; Email: brian.enright@oldham.gov.uk Email: brian.enright@oldham.gov.uk.
Publication date: 21/03/2018
Date of decision: 21/03/2018
Accompanying Documents: