Award

GB-Benfleet: Property Insurance (Leasehold)

CASTLE POINT BOROUGH COUNCIL

This public procurement record has 1 release in its history.

Award

06 Apr 2022 at 10:50

Award Notice
Summary of the contracting process

Castle Point Borough Council has successfully completed the procurement process for "GB-Benfleet: Property Insurance (Leasehold)" aimed at providing insurance services for leasehold and mortgaged properties. This open tender, which was initiated on 1st April 2022, has a contract period set to last for 5 years, with the option for a 2-year extension. The contract, valued at £22,100, is located in the East of England and falls under the category of weather-related insurance services. The tender period concluded on 15th March 2022, with the award date recorded on 15th March 2022.

This tender presents a valuable opportunity for businesses in the insurance sector, especially those with experience in property insurance and financial loss services. Companies that are well-suited to compete should ideally hold a minimum rating of "A-" by Standard and Poor's or an equivalent from another agency and have demonstrated underwriting experience over the past three years. The contract's long-term nature allows for stability and growth potential, especially for commercial insurers ready to expand their portfolios within the local government contracting space.

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Notice Information

Notice Title

GB-Benfleet: Property Insurance (Leasehold)

Notice Description

Provision of Insurance Services in respect of Leasehold Properties and Equity Share / Mortgaged Properties (excluding the provision of insurance broking services) Castle Point Borough Council is looking for tender responses based upon a Long Term Agreement of 5 years with the option to extend by a further 2 years. Additional information: Insurers will be authorised to write the classes of insurance listed within UK subject to English/Welsh Law and jurisdiction of the English/Welsh courts. Potential suppliers may be asked to produce a certificate issued by the appropriate insurance regulatory authority indicating the types of insurance the insurer is authorised to provide and must comply with Departments of Trade and Industry Regulations. Potential suppliers may be asked to produce a copy of their annual reports and accounts for the last 3 years, name and address of bankers, details of last 3 years of underwriting experience for the classes of business referred to in this notice. Insurers must be at least "A-" rated by Standard and Poor's (or equivalent rating agency) and/or approved by the Marsh Market Security Committee.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-55ca3f47-df66-453e-8fb8-bf3d5808383c
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/c54b17af-5124-48aa-bfd8-58998e56b68d
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
Not specified
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

66515100 - Fire insurance services

66515200 - Property insurance services

66515300 - Weather and financial loss insurance services

66515400 - Weather-related insurance services

66516400 - General liability insurance services

Notice Value(s)

Tender Value
£22,100 Under £100K
Lots Value
Not specified
Awards Value
£22,100 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
6 Apr 20223 years ago
Submission Deadline
15 Mar 2022Expired
Future Notice Date
Not specified
Award Date
15 Mar 20223 years ago
Contract Period
31 Mar 2022 - 31 Mar 2029 Over 5 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
CASTLE POINT BOROUGH COUNCIL
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
BENFLEET
Postcode
SS7 1TF
Post Town
Southend-on-Sea
Country
England
Major Region (ITL 1)
TLH East (England)
Basic Region (ITL 2)
TLH3 Essex
Small Region (ITL 3)
TLH37 Essex Thames Gateway
Delivery Location
Not specified
Local Authority
Castle Point
Electoral Ward
Thundersley South
Westminster Constituency
Castle Point

Supplier Information

Number of Suppliers
1
Supplier Name

AVID INSURANCE SERVICES

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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