Tender

FRIC Insurance

FIRE & RESCUE INDEMNITY COMPANY LIMITED

This public procurement record has 1 release in its history.

Tender

12 Jul 2020 at 11:32

Tender Notice
Summary of the contracting process

The Fire & Rescue Indemnity Company Limited is currently conducting an open tender for "FRIC Insurance," primarily concerning financial and insurance services within the UK. The tender aims to appoint one or more contractors to provide property and liability insurance for Fire and Rescue Authorities, supporting claims above the respective retention limits, with a contract period commencing on 1st November 2020 and potentially extending up to nine years. The submission deadline for tenders is set for 13th August 2020, after which the authority expects to work closely with the successful bidder to ensure comprehensive service delivery and compliance with contractual requirements.

This procurement opportunity presents significant growth potential for businesses in the insurance sector, particularly those specialising in property and liability insurance services. Companies that are SMEs may find this tender particularly accessible, as the authority encourages participation from smaller enterprises. Engaging with this contract can enable businesses to expand their clientele through collaboration with multiple fire and rescue authorities, offering tailored insurance solutions to meet their unique needs throughout the contract duration.

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Notice Information

Notice Title

FRIC Insurance

Notice Description

The Authority is a discretionary mutual established by nine of the current members in 2015. The Authority provides risk protection on a shared liability basis for its Members and managed claims. Currently there are twelve Member Fire and Rescue Authorities. Other fire and rescue authorities may also become Members over the period of the Contract. The Contractor (or Contractors) will be expected to provide these Services in relation to any new Members joining the Authority during the Contract. Regis Mutual Management Limited (RMML) are the Authority's managers. They are supporting the Authority in this Procurement and the successful Organisation will be expected to work closely with RMML, as further described in the Specifications. The Authority requires all Tenderers wishing to participate in the Procurement to submit an NDA. This is to protect the Authority's commercial information, including the Underwriting Agreement, risk data, claims data and actuarial reports. This information will be released to a Tenderers when they have provided a signed copy of the NDA. The signed NDA should be submitted through the Portal's email facility. The purpose of the ITT is to identify a Contractor or Contractors to provide the Services below. Insurances for claims above the Authority and the Authority's Members' retention limits as follows: Property Insurance - above PS105,000 up to PS50,000,000 per event; Liability Insurance - above PS205,000 up to PS50,000,000 per event. Initial term of the Contract period will be 1st November 2020 to 31st October 2022 (to be exercised by the Authority at its absolute discretion) to extend for three (3) further two (2) years periods up to the eight year. The final extension will be one(1) year, taking the contract to a 9 year period. Initial Term 1st November 2020 to 31st October 2022. If the first extension period is granted, this will be for two (2) years 1st November 2022 to 31st October 2024. If the second extension period is granted, this will be for a further two years (2) 1st November 2024 to 31st October 2026. If the third extension is granted, this will be for a further two (2) years 1st November 2026 to 31st October 2028. The final extension is for one (1) year 1st November 2028 to 31st October 2029. The Contract duration may be extended up to a maximum of nine 9 years ending 31st October 2029 with up to four (4) extension periods.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-8b2267bb-7346-43ea-a6dd-c4da7d477128
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/19851fad-3f49-41c0-bcb0-b8bb8ba27c3a
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
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

66515200 - Property insurance services

66516000 - Liability insurance services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
12 Jul 20205 years ago
Submission Deadline
13 Aug 2020Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
1 Nov 2020 - 31 Oct 2022 1-2 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
FIRE & RESCUE INDEMNITY COMPANY LIMITED
Contact Name
Emma Peate
Contact Email
peatee@rbfrs.co.uk
Contact Phone
+44 118934736

Buyer Location

Locality
LONDON
Postcode
SE1 3JB
Post Town
South East London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI44 Lewisham and Southwark
Delivery Location
Not specified
Local Authority
Southwark
Electoral Ward
London Bridge & West Bermondsey
Westminster Constituency
Bermondsey and Old Southwark

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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