Financial Regulations
14. INSURANCE
- Following the annual risk assessment (per Financial Regulation 17), the RFO shall effect all insurances and negotiate all claims on the council’s insurers.
- The RFO shall keep a record of all insurances effected by the council and the property and risks covered thereby and annually review it.
- The RFO shall be notified of any loss liability or damage or of any event likely to lead to a claim, and shall report these to council at the next available Meeting.
- All appropriate members and employees of the council shall be included in a suitable form of security or fidelity guarantee insurance which shall cover the maximum risk exposure as determined annually by the council.