That it be agreed that the award of the leasehold and ancillary buildings insurance contract to Protector Insurance (Protector) commencing 1 April 2023 in the estimated sum of £9.8m per annum for a period of three years with an option to extend for two x twelve month extensions, making a total estimated contract value of £48.9m, including insurance premium tax (IPT) at 12%, and with the year on year increase in premiums of the new contract will be linked to The Royal Institution of Chartered Surveyors (RICS) index as well as the policy’s claim performance, be approved.