Tender

Corporate Insurance Brokers

LONDON COUNCILS

This public procurement record has 4 releases in its history.

TenderAmendment

24 Feb 2025 at 19:14

Tender Notice
TenderAmendment

24 Feb 2025 at 19:12

Tender Notice
TenderAmendment

24 Feb 2025 at 18:54

Tender Notice
Tender

07 Feb 2025 at 11:56

Tender Notice
Summary of the contracting process

London Councils has initiated a public procurement process to appoint a Corporate Insurance Broker to act as an intermediary between the council and insurance companies. The aim is to secure suitable insurance policies that meet the specific needs of London Councils. This tender, classified under the industry category of insurance and pension services (CPV: 66500000), covers services including assessment of business needs, finding suitable insurance options, negotiation of terms, providing advice, and claims assistance. The updated tender process has introduced a two-stage procurement starting with the appointment of an insurance broker and later placing the insurance policies to be effective from 1 April 2026. The deadline for tender submissions has been extended to midday on 14 March 2025, while the final date for raising questions is midday on 7 March 2025. The procurement method is an open procedure with a contract period from 1 September 2025 to 31 March 2030, and the estimated value of the contract is £35,000 GBP.

This tender presents significant opportunities for businesses specialising in insurance brokerage, particularly those experienced in managing complex and diverse insurance requirements. The contract is designed to favour Small and Medium-sized Enterprises (SMEs), making it suitable for businesses that meet this criterion. Successful bidders will have the chance to gain a long-term contract with London Councils, potentially fostering future collaborations and a strengthened business portfolio. Moreover, the two-stage procurement approach allows brokers to first secure their role and then collaborate on placing insurance policies, providing an avenue for structured business growth and enhanced service delivery over the extended contract duration.

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Notice Information

Notice Title

Corporate Insurance Brokers

Notice Description

London Councils is looking to appoint an Insurance Broker to act as an intermediary between London Councils and insurance companies, to find and secure the right insurance policies to meet our specific needs. The service from 01 April 2025 provided will be typically: * assess the business needs; * find suitable insurance; * present the with insurance options, demonstrating value for money; * negotiate terms; * provide advice; * provide claims assistance; and * any other adhoc support. Having regard to London Councils requirements (as set out in the Invitation to Tender), the following insurance policies, are required for the period 01 April 2025 to 31 March 2026: * Commercial Combined. * Management Liability (Directors & Officers). * Employment Practices Liability. * Fidelity Guarantee (Commercial Crime). * Group Travel Insurance. * Libel & Slander (Professional Indemnity). * Cyber Insurance. Submissions must be sent to Tenders@Londoncouncils.gov.uk ***NOTE CHANGES TO TENDER REQUIREMENTS INCLUDING COST, SUBMISSION DATES, AND CONTRACT START/END DATES. REVISED TENDER AND TENDER SUBMISSION DOCUMENTS HAVE BEEN UPLOADED AS OF 24.02.25*** In response to feedback we have received on our tender for Corporate Insurance Brokers, we have decided to change our procurement approach. We have carefully considered the concerns raised regarding the structure of the procurement exercise, particularly the recommendation that the appointment of a broker and the placement of insurance policies should be conducted as separate exercises. We also acknowledge the challenges given the timescales and obligation to comply with the FCA and insurance regulations. A two-stage procurement process will now be adopted, beginning with the appointment of an insurance broker who will collaborate with us in a separate exercise to place insurance policies effective from 1 April 2026. As part of this revision, Schedule 4 of the Tender Submission Document has been updated to require tenderers to provide a detailed breakdown of their fee structure. Additionally, the deadline for submitting tenders has been extended by two weeks to midday on Friday, 14 March 2025. We appreciate your engagement in this process and look forward to receiving your submissions. Please do not hesitate to contact us should you require any further clarification. The final date for raising questions on the tender has also been moved back by two weeks to midday on Friday, 7 March 2025.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-681abc71-82f8-45f6-a74e-932453b53ac3
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/b26ced15-6ffc-420e-884c-26b0d41d4c12
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (below threshold)
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66500000 - Insurance and pension services

Notice Value(s)

Tender Value
£35,000 Under £100K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
24 Feb 202512 months ago
Submission Deadline
14 Mar 2025Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
31 Aug 2025 - 31 Mar 2030 4-5 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
LONDON COUNCILS
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
EC4R 9AB
Post Town
Central London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
TLI London
Local Authority
City of London
Electoral Ward
Dowgate
Westminster Constituency
Cities of London and Westminster

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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