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T1115 - UMAL Insurance Broker

UNIVERSITY OF ESSEX

This public procurement record has 1 release in its history.

Tender

13 Dec 2024 at 12:57

Tender Notice
Summary of the contracting process

The University of Essex, acting as the buying organisation, has completed the procurement process for the "T1115 - UMAL Insurance Broker" contract, involving financial and insurance services under CPV code 66000000. The procurement was conducted using a selective method, specifically a restricted procedure (above threshold). The contract spans many locations, including the United Kingdom, Isle of Man, Channel Islands, British Oversea Territories, and globally. The tender process concluded on 20 January 2025, with the contract period scheduled from 1 August 2025 to 31 July 2030. The total contract value is £125,000,000, awarded to Lockton LLP, reflecting an active award status as of 5 June 2025.

This tender presents significant opportunities for insurance brokers with international expertise, especially those capable of handling complex risk management and insurance placement locally and abroad. Businesses adept in providing wholesale insurance broking services and managing diverse insurance needs, including professional indemnity, directors and officers liability, crime, and cyber insurance, stand to benefit. The project, suited for small and medium enterprises (SMEs), offers avenues for substantial business growth by serving the insurance needs of UMAL and its members, making it a lucrative opportunity for qualified firms within the financial and insurance industry sectors.

How relevant is this notice?

Notice Information

Notice Title

T1115 - UMAL Insurance Broker

Notice Description

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

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-427fc22c-0a3e-41ae-80f9-ca3910c4b9ed
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/b6ef84c4-e856-432a-b78e-2d9a3f2af133
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Restricted procedure (above threshold)
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

66510000 - Insurance services

66518000 - Insurance brokerage and agency services

66518100 - Insurance brokerage services

Notice Value(s)

Tender Value
£125,000,000 £100M-£1B
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
13 Dec 20241 years ago
Submission Deadline
20 Jan 2025Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
1 Aug 2025 - 31 Jul 2030 Over 5 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
UNIVERSITY OF ESSEX
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
COLCHESTER
Postcode
CO4 3SQ
Postcode Area
Colchester
Country
England
Major Region (ITL 1)
TLH East (England)
Basic Region (ITL 2)
TLH3 Essex
Small Region (ITL 3)
TLH34 Essex Haven Gateway
Delivery Location
Not specified
Local Authority
Colchester
Electoral Ward
Wivenhoe
Westminster Constituency
Harwich and North Essex

Further Information

Notice Documents

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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