Tender

GB-Benfleet: Property Insurance (Leasehold)

CASTLE POINT BOROUGH COUNCIL

This public procurement record has 1 release in its history.

Tender

29 Nov 2021 at 12:30

Tender Notice
Summary of the contracting process

The Castle Point Borough Council is initiating a tender for "GB-Benfleet: Property Insurance (Leasehold)" aimed at providing insurance services for leasehold and equity share properties. The procurement falls within the services category, specifically general liability and property insurance services, with a contract value estimated at £500,000 and a minimum value of £100,000. The tender process is currently in the active stage and will close on 5 January 2022. The contract is intended to commence on 1 April 2022 and will last for five years, with the possibility of a two-year extension. Interested suppliers must comply with relevant insurance regulations and possess necessary authorisations as mandated by UK law. The delivery location for service provision is in the East of England.

This tender presents substantial opportunities for businesses within the insurance sector, particularly those specialising in property and liability insurance. Companies with a strong track record in underwriting, compliance with industry regulations, and an "A-" rating from recognised agencies are well-positioned to compete for this contract. As the procurement method is open, it invites a broad range of suppliers to participate, thereby fostering healthy competition and potential collaboration within the insurance market. Businesses aiming to expand their portfolio in public sector contracts will find this opportunity particularly advantageous.

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Notice Information

Notice Title

GB-Benfleet: Property Insurance (Leasehold)

Notice Description

Provision of Insurance Services in respect of Leasehold Properties and Equity Share / Mortgaged Properties (excluding the provision of insurance broking services) Castle Point Borough Council is looking for tender responses based upon a Long Term Agreement of 5 years with the option to extend by a further 2 years. Additional information: Insurers will be authorised to write the classes of insurance listed within UK subject to English/Welsh Law and jurisdiction of the English/Welsh courts. Potential suppliers may be asked to produce a certificate issued by the appropriate insurance regulatory authority indicating the types of insurance the insurer is authorised to provide and must comply with Departments of Trade and Industry Regulations. Potential suppliers may be asked to produce a copy of their annual reports and accounts for the last 3 years, name and address of bankers, details of last 3 years of underwriting experience for the classes of business referred to in this notice. Insurers must be at least "A-" rated by Standard and Poor's (or equivalent rating agency) and/or approved by the Marsh Market Security Committee.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-a4369c47-fccd-48e7-b6f0-1fd2defe9ce2
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/95e15230-0a5a-4258-ba86-a7d66380e060
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
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66510000 - Insurance services

66515000 - Damage or loss insurance services

66515100 - Fire insurance services

66515200 - Property insurance services

66515300 - Weather and financial loss insurance services

66515400 - Weather-related insurance services

66516400 - General liability insurance services

Notice Value(s)

Tender Value
£500,000 £500K-£1M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
29 Nov 20214 years ago
Submission Deadline
5 Jan 2022Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
31 Mar 2022 - 31 Mar 2029 Over 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
CASTLE POINT BOROUGH COUNCIL
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
BENFLEET
Postcode
SS7 1TF
Post Town
Southend-on-Sea
Country
England
Major Region (ITL 1)
TLH East (England)
Basic Region (ITL 2)
TLH3 Essex
Small Region (ITL 3)
TLH37 Essex Thames Gateway
Delivery Location
Not specified
Local Authority
Castle Point
Electoral Ward
Thundersley South
Westminster Constituency
Castle Point

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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