Award

Insurance Tender 2024 -2029

CAPITALESOURCING

This public procurement record has 1 release in its history.

Award

19 Apr 2024 at 12:11

Award Notice
Summary of the contracting process

The Royal Borough of Kensington & Chelsea (RBKC) has awarded an insurance tender for various insurance lots, including liability, terrorism, directors & officers liability, crime, PA and travel, school journey, motor fleet, and engineering inspection, to suppliers such as Zurich Insurance Company PLC, Lloyd's Market via Marsh Limited, and Aon UK Limited. The procurement method used was a Competitive Procedure with Negotiation. The contract will be in place for an initial five-year period, allowing for annual index-linked premiums to reflect inflation rates and ensuring adequate insurance coverage for the Council's assets. The tender had a final submission deadline of February 19, 2024.

This insurance tender by the RBKC presents opportunities for large-scale insurance companies to provide specialized coverage on various categories to the Council. The suppliers selected have demonstrated their expertise in the insurance industry and their ability to meet the technical specifications outlined in the tender. Companies operating in the insurance sector, especially those proficient in providing comprehensive coverage for public sector assets, would be well-suited to compete for similar future tenders with RBKC or other public authorities looking for quality insurance services.

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Notice Information

Notice Title

Insurance Tender 2024 -2029

Notice Description

The Royal Borough of Kensington & Chelsea (RBKC) has awarded insurance tender to the below lots : Lot 2 Combined Liability -Zurich Insurance Company PLC (UK Branch) trading as Zurich Municipal BR000105 Lot 3 Terrorism- Lloyd's Market via Marsh Limited Co. Reg. 01507274 Lot 4 Director & Officers Liability- Lloyd's Market via Marsh Limited Co. Reg. 01507274 Lot 5 Crime - Zurich Insurance Company PLC (UK Branch) trading as Zurich Municipal BR000105 Lot 6 PA and Travel - Aon UK Limited Trading as Maven Public Sector 210725 Lot 7 School Journey - Zurich Insurance Company PLC (UK Branch) trading as Zurich Municipal BR000105 Lot 8 Motor Fleet- Zurich Insurance Company PLC (UK Branch) trading as Zurich Municipal BR000105 Lot 10 Engineering Inspection - Zurich Insurance Company PLC (UK Branch) trading as Zurich Municipal BR000105 The Contract Award Criteria was based on the technical specification, which invited bidders to provide policy coverage and claims handling requirements. Tenders were invited on the basis that insurance contracts would be awarded to the tenderers submitting the most economically advantageous tender. The contract opportunities were forwarded to a select number of insurance providers on the Council's e-tendering portal - Capital eSourcing. - The Competitive Procedure with Negotiation (CPN) was used. The contract will be established for an initial duration of five-year arrangement, premiums are not fixed by the insurers as they will be subject to annual index linking to reflect the current inflation at that time. This ensures the Councils' assets are adequately insured and not subject to under-insurance.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-934842d9-1456-4b86-a54a-d8af4df34349
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/cfdfb0fa-72d8-4c32-bf35-1e79bb389e15
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Competitive procedure with negotiation (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
£4,251,778 £1M-£10M
Lots Value
Not specified
Awards Value
£4,251,778 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
19 Apr 20241 years ago
Submission Deadline
19 Feb 2024Expired
Future Notice Date
Not specified
Award Date
15 Mar 20241 years ago
Contract Period
31 Mar 2024 - 2 Apr 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
CAPITALESOURCING
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
W8 7NX
Post Town
West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI33 Kensington & Chelsea and Hammersmith & Fulham
Delivery Location
TLI London
Local Authority
Kensington and Chelsea
Electoral Ward
Campden
Westminster Constituency
Kensington and Bayswater

Supplier Information

Number of Suppliers
3
Supplier Names

AON UK LIMITED TRADING AS MAVEN PUBLIC SECTOR 210725

LLOYD'S MARKET VIA MARSH LIMITED CO. REG. 01507274

ZURICH INSURANCE COMPANY PLC (UK BRANCH) TRADING AS ZURICH MUNIC

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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