RES/INS Bristol Beacon Excess Layer

Tender description

RES/INS Bristol Beacon Excess Layer. The Bristol Beacon redevelopment project is due to come to an end with Practical completion to be issued by the 30th November 2023. Practical completion will return the Bristol Beacon to the Council's control and insurable interest. Our current insurer Zurich have advised that they will retain an insurable interest up to the level of £50M. This is the current level held by completion the building value to be insured will be upto £120M. To arrange the excess layer to cover the remaining £70M we will look to Gallaghers the Council's broker to provide a solution. In anticipation that the cover required may be in excess of £50,000. The service has approached Gallaghers our broker to source the insurance for the excess level as Zurich won't cover the excess requirement for the Bristol Beacon.