T1115 - UMAL Insurance Broker

UNIVERSITY OF ESSEX

There is 1 contract in this contracting process.

Summary of the contracting process

The University of Essex is seeking a UK-based insurance broker to handle various insurance needs through a tender titled "T1115 - UMAL Insurance Broker". The contract falls under the Financial and Insurance Services category (CPV Code: 66000000). This procurement process is at the tender stage, with a tender period ending on 20 January 2025. The contract, valued at £125,000,000, will commence on 1 August 2025 and conclude on 31 July 2030. Interested bidders must submit their proposals via a restricted procedure. The geographical scope includes the United Kingdom, British Overseas Territories, Channel Islands, Europe, the Isle of Man, and worldwide locations. The tender's main purpose is to ensure UMAL's insurance needs are met, including risk placement, wholesale brokerage services, and coverage for entity risks such as professional indemnity and cyber insurance.

This tender offers significant opportunities for insurance brokers with expertise in intermediary services between insurers and clients. Small and medium-sized enterprises (SMEs) stand to benefit from the substantial contract value and long-term engagement, providing a stable revenue stream and enhanced market presence. Experienced firms with capacities to handle both local and international insurance placements will be particularly well-suited to this opportunity. Engaging in this tender enables businesses to establish or strengthen relationships with academia and broaden their service portfolio across a diverse array of insurance needs.

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Tender

T1115 - UMAL Insurance Broker

UNIVERSITY OF ESSEX

Contract Timeline

Publication Date

13th December 2024 12:57:18 PM

Tender Deadline

20th January 2025 12:00:00 PM 18 days remaining
Contract Summary

UMAL needs to secure the services of a UK-based insurance broker with experience, expertise and capacity to act as an intermediary between UMAL and the insurance market (i.e. insurers, reinsurers, and other risk financing institutions). The broker will be required to assist with insurance needs of UMAL which include: a. Placing Insurance risks with insurers (both local and international) b. Ensuring adequate insurance for all UMAL exposures c. Providing wholesale insurance broking services for HMSL on behalf of its Members d. Covering the entity risks of UMAL, which includes i. Office Insurance and related covers ii. Professional Indemnity iii. Directors and Officers for UMAL Directors and officers iv. Crime v. Cyber
Contract Details

Open Contracting ID

ocds-b5fd17-427fc22c-0a3e-41ae-80f9-ca3910c4b9ed

Publication Source

Contracts Finder

Procurement Stage

Tender

Procurement Method

Selective

Procurement Method Details

Restricted Procedure (above Threshold)

Procurement Category

Services

Tender Suitability

SME

Framework / DPS
Contract Classification

CPV Code(s)

66000000
66510000
66518000
66518100

CPV Division(s)

66 - Financial and insurance services
Awarding Authority

UNIVERSITY OF ESSEX

Buyer Name

Aston Baker

Buyer Email

ab17001@essex.ac.uk

Buyer Phone

01206 872779

Buyer Address

University of Essex, Wivenhoe Park, , ,

Colchester

CO4 3SQ

UNITED KINGDOM

View contract on Contracts Finder

T1115 - UMAL Insurance Broker

UNIVERSITY OF ESSEX

Contract Timeline

Contract Summary

Contract Details

Contract Classification

Awarding Authority