Award

Worldwide All Risks Insurance

FOREIGN COMMONWEALTH AND DEVELOPMENT OFFICE

This public procurement record has 1 release in its history.

Award

01 May 2024 at 08:35

Award Notice
Summary of the contracting process

The Foreign Commonwealth and Development Office (FCDO) has recently awarded a contract for the Worldwide All Risks Insurance. This procurement opportunity falls under the industry category of insurance services and specifically covers Marine, aviation, and other transport insurance services as well as General liability insurance services. The tender was conducted using a selective procurement method with a call-off from a framework agreement. The contract value amounts to £1,125,000 GBP, with a contract period starting on April 1, 2024, and ending on March 31, 2029. The procurement stage has been completed, and the tender period ended on March 28, 2024.

This awarded contract presents a business growth opportunity for suppliers in the insurance services sector, particularly those with expertise in providing comprehensive risk coverage. Small and medium-sized enterprises (SMEs) with experience in managing insurance schemes and policies could be well-suited to compete for this contract. Suppliers interested in this opportunity should be prepared to engage in a long-term partnership with the FCDO and have the capacity to handle complex insurance solutions on a global scale. The FCDO's willingness to engage SMEs in this contract signals a commitment to fostering innovation and diversity within its procurement processes.

Find more tenders on our Open Data Platform.
How relevant is this notice?

D3 Tenders Premium

Win More Public Sector Contracts

AI-powered tender discovery, pipeline management, and market intelligence — everything you need to grow your public sector business.

Start Free Trial Book a Demo
All Features Pricing

Notice Information

Notice Title

Worldwide All Risks Insurance

Notice Description

The FCDO intends to fund insurance cover through a bespoke self-fund hybrid model that reflects the FCDO's unique requirements and global reach. Staff are encouraged to opt in and pay one-third of the premium cover, with the FCDO covering the remaining two-thirds. The supplier will be responsible for arranging the policy provisions and administering insurance cover. All UKB premium contributions will go into a FCDO claims pot (see below) with a set lower limit and if this lower amount is breached, the FCDO then returns to a self-funded approach model. The funding is structured such that the FCDO reduces the total premium price for the UKB Staff by two-thirds. The FCDO's two-thirds contribution will be used to top up the claims pot as needed to honour claims. All UKB staff contributions will be collected and directly administered by the supplier. The remaining funds in the existing claims pot will be transferred to the successful bidder during the transition period. REQUIREMENT Detail of the Worldwide All Risks (WWAR) Insurance Scheme: The following elements will be included in the WWAR Insurance Scheme Contract: 1. WWAR Personal Effects and Personal Liability Insurance Scheme; 2. Personal Accident Insurance Cover for Spouses/Registered Unmarried Partners 3. Marine Transit Insurance cover for UKB personal vehicles (to/from selected Posts)

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-68ce24ab-6609-46ad-9f43-2c058a5ebcf5
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/a73adc4c-e96a-4183-84cf-6adaf2f1328b
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66510000 - Insurance services

66514120 - Marine, aviation and other transport insurance services

66516400 - General liability insurance services

Notice Value(s)

Tender Value
£1,125,000 £1M-£10M
Lots Value
Not specified
Awards Value
£1,125,000 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
1 May 20241 years ago
Submission Deadline
28 Mar 2024Expired
Future Notice Date
Not specified
Award Date
28 Mar 20241 years ago
Contract Period
31 Mar 2024 - 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
FOREIGN COMMONWEALTH AND DEVELOPMENT OFFICE
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
SW1A 2AH
Post Town
South West 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
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

MARSH

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

Download

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. 

{
    "tag": [
        "compiled"
    ],
    "id": "ocds-b5fd17-68ce24ab-6609-46ad-9f43-2c058a5ebcf5-2024-05-01T09:35:32+01:00",
    "date": "2024-05-01T09:35:32+01:00",
    "ocid": "ocds-b5fd17-68ce24ab-6609-46ad-9f43-2c058a5ebcf5",
    "language": "en",
    "initiationType": "tender",
    "tender": {
        "id": "tender_384572/1316602",
        "title": "Worldwide All Risks Insurance",
        "description": "The FCDO intends to fund insurance cover through a bespoke self-fund hybrid model that reflects the FCDO's unique requirements and global reach. Staff are encouraged to opt in and pay one-third of the premium cover, with the FCDO covering the remaining two-thirds. The supplier will be responsible for arranging the policy provisions and administering insurance cover. All UKB premium contributions will go into a FCDO claims pot (see below) with a set lower limit and if this lower amount is breached, the FCDO then returns to a self-funded approach model. The funding is structured such that the FCDO reduces the total premium price for the UKB Staff by two-thirds. The FCDO's two-thirds contribution will be used to top up the claims pot as needed to honour claims. All UKB staff contributions will be collected and directly administered by the supplier. The remaining funds in the existing claims pot will be transferred to the successful bidder during the transition period. REQUIREMENT Detail of the Worldwide All Risks (WWAR) Insurance Scheme: The following elements will be included in the WWAR Insurance Scheme Contract: 1. WWAR Personal Effects and Personal Liability Insurance Scheme; 2. Personal Accident Insurance Cover for Spouses/Registered Unmarried Partners 3. Marine Transit Insurance cover for UKB personal vehicles (to/from selected Posts)",
        "status": "complete",
        "classification": {
            "scheme": "CPV",
            "id": "66510000",
            "description": "Insurance services"
        },
        "additionalClassifications": [
            {
                "scheme": "CPV",
                "id": "66514120",
                "description": "Marine, aviation and other transport insurance services"
            },
            {
                "scheme": "CPV",
                "id": "66516400",
                "description": "General liability insurance services"
            }
        ],
        "items": [
            {
                "id": "1",
                "deliveryAddresses": [
                    {
                        "postalCode": "SW1A 2AH"
                    },
                    {
                        "region": "London",
                        "countryName": "United Kingdom"
                    }
                ]
            }
        ],
        "value": {
            "amount": 1125000,
            "currency": "GBP"
        },
        "procurementMethod": "selective",
        "procurementMethodDetails": "Call-off from a framework agreement",
        "tenderPeriod": {
            "endDate": "2024-03-28T17:00:00Z"
        },
        "contractPeriod": {
            "startDate": "2024-04-01T00:00:00+01:00",
            "endDate": "2029-03-31T23:59:59+01:00"
        },
        "suitability": {
            "sme": true,
            "vcse": false
        },
        "mainProcurementCategory": "services"
    },
    "parties": [
        {
            "id": "GB-CFS-154765",
            "name": "Foreign Commonwealth and Development Office",
            "identifier": {
                "legalName": "Foreign Commonwealth and Development Office"
            },
            "address": {
                "streetAddress": "Foreign Commonwealth and Development Office",
                "locality": "London",
                "postalCode": "SW1A 2AH",
                "countryName": "England"
            },
            "contactPoint": {
                "email": "Commercial.Corporate@fcdo.gov.uk"
            },
            "roles": [
                "buyer"
            ]
        },
        {
            "id": "GB-COH-01507274",
            "name": "Marsh Limited",
            "identifier": {
                "legalName": "Marsh Limited",
                "scheme": "GB-COH",
                "id": "01507274"
            },
            "address": {
                "streetAddress": "Tower Place West, LONDON, EC3R 5BU"
            },
            "details": {
                "scale": "large",
                "vcse": false
            },
            "roles": [
                "supplier"
            ]
        }
    ],
    "buyer": {
        "id": "GB-CFS-154765",
        "name": "Foreign Commonwealth and Development Office"
    },
    "awards": [
        {
            "id": "ocds-b5fd17-68ce24ab-6609-46ad-9f43-2c058a5ebcf5-1",
            "status": "active",
            "date": "2024-03-28T00:00:00Z",
            "datePublished": "2024-05-01T09:35:32+01:00",
            "value": {
                "amount": 1125000,
                "currency": "GBP"
            },
            "suppliers": [
                {
                    "id": "GB-COH-01507274",
                    "name": "Marsh Limited"
                }
            ],
            "contractPeriod": {
                "startDate": "2024-04-01T00:00:00+01:00",
                "endDate": "2029-03-31T23:59:59+01:00"
            },
            "documents": [
                {
                    "id": "1",
                    "documentType": "awardNotice",
                    "description": "Awarded contract notice on Contracts Finder",
                    "url": "https://www.contractsfinder.service.gov.uk/Notice/a73adc4c-e96a-4183-84cf-6adaf2f1328b",
                    "datePublished": "2024-05-01T09:35:32+01:00",
                    "format": "text/html",
                    "language": "en"
                },
                {
                    "id": "2",
                    "description": "n/a",
                    "url": "https://www.contractsfinder.service.gov.uk/Notice/Attachment/31a7fa2e-f867-483e-9716-4a3ee69bf20b",
                    "format": "application/vnd.openxmlformats-officedocument.wordprocessingml.document"
                }
            ]
        }
    ]
}