WOKINGHAM BOROUGH COUNCIL’S property portfolio is now worth £120 million and, at a virtual meeting held on Thursday, September 24, the Executive agreed to tender its insurance cover for the buildings.
The properties include commercial, retail and industrial properties such as the Elms Field and Peach Place developments.
The tender aims to “secure high-quality cover at a competitive price with a single insurer”.
The new policy will start on June 30 next year, in line with the council’s primary insurance programme and the premium is estimated to be between £450,000 and £625,000 over five years.