Award

Insurance Pilot Study

DEFRA NETWORK ETENDERING PORTAL

This public procurement record has 4 releases in its history.

AwardUpdate

16 Dec 2022 at 14:15

Award

15 Dec 2022 at 09:25

Tender

31 May 2022 at 10:07

Planning

25 Oct 2021 at 17:39

Summary of the contracting process

The Environment Agency has awarded the contract for the 'Insurance Pilot Study' to McKinsey & Co Inc UK. The study aims to evaluate insurance-related financial benefits of Flood Alleviation Schemes in England, focusing on the Bridgwater Tidal Barrier and Banbury Flood Alleviation Scheme. The contract value is £249,572, and the contract period is from 2nd November 2022 to 1st November 2023.

This tender presents an opportunity for consultants specialised in financial and insurance services to engage in the evaluation of flood alleviation schemes. The procurement method used is an open procedure, allowing SMEs to participate. The study will involve developing an evidence base to quantify financial benefits and create innovative financial mechanisms. Businesses with expertise in natural catastrophe modelling, insurance risk pricing, and transaction advisory services for public infrastructure investment projects are well-suited to compete.

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Notice Title

Insurance Pilot Study

Notice Description

The Green Finance Team at Environment Agency have secured funding to carry out a pilot study titled 'Monetising Insurance Benefits of Flood Alleviation Schemes' (the Study) to evaluate the insurance-related financial benefits of Flood Alleviation Schemes in England. The Environment Agency seeks to appoint a Consultant to carry out the Study. The Study will evaluate two flood schemes in England viz. Bridgwater Tidal Barrier and Banbury Flood Alleviation Scheme.

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-3c8f32c0-348d-4292-b136-1e5a994f3b8f
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/fdab6bef-efd3-4dc2-825f-4f8caf91d9bb
Current Stage
Award
All Stages
Planning, Tender, Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (above threshold)
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66000000 - Financial and insurance services

66171000 - Financial consultancy services

Notice Value(s)

Tender Value
£250,000 £100K-£500K
Lots Value
Not specified
Awards Value
£249,572 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
16 Dec 20223 years ago
Submission Deadline
1 Jul 2022Expired
Future Notice Date
22 Nov 2021Expired
Award Date
2 Nov 20223 years ago
Contract Period
2 Nov 2022 - 1 Nov 2023 6-12 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Contracting Authority (Buyer)

Main Buyer
DEFRA NETWORK ETENDERING PORTAL
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
BRISTOL
Postcode
BS1 5TL
Post Town
Bristol
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified

Local Authority
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

MCKINSEY & CO

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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