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Type
House
Session
Year
Department
Member
Primary member
Answering member
Legislative stage
Legislation
Subject
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Department of Trade and Industry (1)
Publisher
To ask the Secretary of State for Trade and Industry, what the cost of buildings insurance to her Department was (a) before and (b) after 11th September 2001.
To ask the Secretary of State for Trade and Industry, what the cost of buildings insurance to her Department was (a) before and (b) after 11th September 2001.
Asked by
John Bercow
(Conservative)
Answered by
Patricia Hewitt
(Labour)
Answering body
Department of Trade and Industry
Type
Written questions
Status
Answered
Tabled on
1 July 2002
For answer on
22 July 2002
Answered on
22 July 2002
Mr. Bercow: To ask the Secretary of State for Trade and Industry what the cost of buildings insurance to her Department was (a)
before and (b) after 11 September 2001. [66937]
Ms Hewitt: Departments are required to comply with the Government's general policy on insurance, which is set out in Government
Accounting, Chapter 30, para 30.2.5, which notes that government does not need to purchase insurance to protect the viability of its
business, and should consider insurance only where the value of claims met would exceed the cost of insurance premiums. Commercial
insurance of a building is acceptable in cases where (a) insurance is a condition of a lease (b) the lessor will not accept a
Government indemnity (c) incurring the total cost of the accommodation in question, including the cost of the insurance, is more
cost-effective than other accommodation options [Government Accounting, para 30.2.11a]. Therefore, my Department does not normally
insure the buildings it occupies. However, in some instances our landlords do insure their buildings and we make annual payments of
around £100,000 to cover this. These payments have not risen since 11 September 2001.
Subjects
Costs; Buildings; Department of Trade and Industry; Government departments; Insurance; Offices
Date
22 July 2002
Reference
66937; 389 c790-1W
House
House of Commons