Award

The Provision of Leasehold RTB Insurance

LONDON BOROUGH OF NEWHAM

This public procurement record has 1 release in its history.

Award

26 Apr 2023 at 10:52

Award Notice
Summary of the contracting process

The London Borough of Newham has awarded a contract for "The Provision of Leasehold RTB Insurance" to Protector Insurance for a total value of £12,831,466.25. The procurement method used was a Negotiated procedure without prior publication. The tender period ended on February 23, 2023, and the contract period is from April 1, 2023, to March 31, 2026. The contracting authority is located in London, United Kingdom, and the industry category is insurance services.

This tender presents an opportunity for insurance companies or providers of insurance services, especially those experienced in dealing with property insurance for leasehold dwellings. Businesses specialising in insurance for residential properties under various legislations, such as the Right To Buy (RTB) legislation, would be well-suited to compete in this contracting process initiated by the London Borough of Newham. The awarded contract aims to provide insurance coverage for approximately 6,000 properties within the designated portfolio under the Contracting Authority's administration.

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Notice Information

Notice Title

The Provision of Leasehold RTB Insurance

Notice Description

The London Borough of Newham (Contracting Authority) procured for the provision of its property insurance in respect of private dwellings sold on a leasehold basis, the majority of which were under the Right To Buy (RTB) legislation. The dwellings are flats in blocks and flats in houses (maisonettes), where the Contracting Authority still retain the freehold ownership and the leases state that the Contracting Authority, as the Freeholder, will arrange the buildings insurance on behalf of the Leaseholder and recharge the premium as part of the Service Charge. The portfolio comprises approximately 6,000 properties with a total sum insured of PS1b. Other flats in some blocks have not been sold (Council tenanted) and are separately insured so insurance cover for these flats is not required. The number of properties change in the course of an insurance year as a result of the exercise of new rights to buy and buy-back of properties mainly within the Contracting Authority's regeneration area. The Contracting Authority's Insurance Department administers the process, including issuance and/or replacement of bespoke insurance documents.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-63902f7c-c967-412f-bb59-86121a8865e5
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/8fe900e1-2712-4761-83d3-a81c2e22a3bf
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Limited
Procurement Method Details
Negotiated procedure without prior publication (above threshold)
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66510000 - Insurance services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£12,831,466 £10M-£100M
Contracts Value
Not specified

Notice Dates

Publication Date
26 Apr 20232 years ago
Submission Deadline
23 Feb 2023Expired
Future Notice Date
Not specified
Award Date
30 Mar 20232 years ago
Contract Period
31 Mar 2023 - 31 Mar 2026 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 NEWHAM
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
E16 2QU
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
TLI London
Local Authority
Newham
Electoral Ward
Royal Albert
Westminster Constituency
West Ham and Beckton

Supplier Information

Number of Suppliers
1
Supplier Name

PROTECTOR INSURANCE

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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