Objective To determine whether councils are prudently managing their insurable risks.
Issues Councils manage and deliver many essential assets and services for the community. It is vital that councils are sufficiently insured against risks that may affect those assets and services, while also ensuring value for money. To do this, councils require a comprehensive understanding of their risk profile, which risks to insure—including levels of cover and excess—and at what cost.
This audit will examine whether councils have adequately assessed their risks and insurance requirements, are sufficiently insured and have applied best-value principles to procure insurance services to protect their community interests.
Proposed agencies DELWP, the Municipal Association of Victoria and a selection of councils.