Award

Provision of Insurance Services for Leasehold Right to Buy Property (exclude, provision of insurance broker service). 1/9/21

LONDON BOROUGH OF HACKNEY

This public procurement record has 1 release in its history.

Award

10 Mar 2022 at 14:15

Award Notice
Summary of the contracting process

The London Borough of Hackney is seeking to provide insurance services for leasehold rights associated with property sold on a shared ownership basis. This contract, which has a total value of £13 million, began on 1st April 2022 and is set to last for 36 months, with the option for extension. The procurement process utilised was an open tender, with the bidding period concluding on 14th October 2021. The relevant industry category for this procurement falls under insurance services, specifically property insurance, which encompasses both damage and loss insurance services.

This opportunity is well-suited for small to medium enterprises (SMEs) specialising in insurance services, particularly those with expertise in property insurance. Businesses in this sector can substantially benefit from this contract, given the significant value involved and the ongoing need for property insurance provisions. This contract not only presents a chance for SMEs to expand their service offerings but also to strengthen their presence within the public sector, thus contributing to steady business growth and enhanced sectoral experience.

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Notice Information

Notice Title

Provision of Insurance Services for Leasehold Right to Buy Property (exclude, provision of insurance broker service). 1/9/21

Notice Description

The provision of property insurance in respect of private dwelling sold by the London Borough of Hackney on a leasehold shared ownership or managed property basis. The contract start date 1st April 2022 - contract duration of 36 months plus a option to extend

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-40934a33-585f-46b3-bfa5-1ba6547db22a
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/178b9186-86ba-47ab-978d-c67b37bd4073
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
SME
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66510000 - Insurance services

66515000 - Damage or loss insurance services

66515200 - Property insurance services

Notice Value(s)

Tender Value
£13,000,000 £10M-£100M
Lots Value
Not specified
Awards Value
£2,614,384 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
10 Mar 20223 years ago
Submission Deadline
14 Oct 2021Expired
Future Notice Date
Not specified
Award Date
10 Mar 20223 years ago
Contract Period
31 Mar 2022 - 31 Mar 2025 3-4 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
LONDON BOROUGH OF HACKNEY
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
HACKNEY
Postcode
E8 1DY
Post Town
East London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI41 Hackney and Newham
Delivery Location
Not specified
Local Authority
Hackney
Electoral Ward
Hackney Central
Westminster Constituency
Hackney South and Shoreditch

Supplier Information

Number of Suppliers
1
Supplier Name

AVID INSURANCE SERVICES

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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