BUSINESS

EXCLUSIVE: LGA hit by unexpected £1m insurance bill

Smith Square faces an unexpected bill of up to £1m to cover the start-up costs of the insurance venture it has formed with 14 councils.

By Chris Mahony | 30 January 2019

Smith Square faces an unexpected bill of up to £1m to cover the start-up costs of the insurance venture it has formed with 14 councils.

The Local Government Association (LGA) had invested £1.7m in supporting the Local Government Mutual (LGM) project over the last two years, with the expectation that it would be self-financing from April.  

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Popular articles by Chris Mahony

  1. Inflation may drive increased insourcing
  2. Leadership candidates both pledge to protect green belt
  3. Capital borrowing falls by a fifth in two years, data reveals
  4. Employers put forward flat rate rise in council staff pay
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