§ Mr. BercowTo ask the Secretary of State for Foreign and Commonwealth Affairs what the cost of buildings insurance to his Department was(a) before and (b) after 11 September 2001. [66926]
§ Mr. MacShaneThe Government's general policy on insurance, set out in Government Accounting, Chapter 30, notes that Government only needs to purchase insurance to protect the viability of its business, 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.
The FCO follows this policy.