The Christchurch City Council has dumped the insurance broker that it used to organise most of its cover before the earthquakes.
The council terminated its long-standing contract with Aon last week and has appointed Marsh New Zealand as its insurance broker.
Council corporate services manager Diane Brandish said the council had been using Aon since 1997 but decided to switch broker after going through a formal tender process.
"Council policy is that we re-tender contracts regularly and that's something we're doing progressively with all of our contracts. The Aon contract was rolled over for several years while staff focused on lodging claims," Brandish said.
Staff had discussed with Aon the council's need to go back to the market.
"A number of brokers capable of handling such a substantial policy were invited to apply and Marsh was appointed after a formal procurement process," Brandish said.
- The Press
Would you consider using your retirement savings to buy a home?Related story: Retirement savings used for first home