Award

Insurance - Directors & Officers Liability (CORP006)

SOMERSET NHS FOUNDATION TRUST

This public procurement record has 1 release in its history.

Award

30 Apr 2025 at 13:24

Summary of the contracting process

The Somerset NHS Foundation Trust has completed a procurement process for Directors and Officers liability insurance, titled "Insurance - Directors & Officers Liability (CORP006)." The tender falls under the liability insurance services category and is located in the South West region of the United Kingdom. The procurement stage is the award phase, completed on 1st April 2025. The contract period extends from 1st April 2025 to 31st March 2026, with the contract valued at £43,120. The procurement was conducted using a selective method, involving a call-off from a framework agreement. The tender period concluded on 28th February 2025. American International Group (UK) Ltd (AIG) was appointed as the supplier.

This tender offers significant business growth opportunities for large-scale insurance providers, particularly those specialising in liability coverage. The contract with the Somerset NHS Foundation Trust provides a steady revenue stream over a year. Although the procurement method was selective, indicating a competitive environment, businesses capable of proving their capacity to meet the Trust's specific insurance requirements were well-suited to compete. Businesses looking to engage with NHS trusts and acquire similar contracts could benefit greatly from analysing this procurement process.

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Notice Title

Insurance - Directors & Officers Liability (CORP006)

Notice Description

Directors and Officers liability insurance for Somerset NHS Foundation Trust Additional information: Insurance policy

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-b72f464f-d6de-4fe4-b195-a0edd4db8161
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/944db91e-cf17-407b-8d4a-1fd886081106
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Not specified
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66516000 - Liability insurance services

Notice Value(s)

Tender Value
£43,120 Under £100K
Lots Value
Not specified
Awards Value
£43,120 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
30 Apr 20259 months ago
Submission Deadline
28 Feb 2025Expired
Future Notice Date
Not specified
Award Date
31 Mar 202510 months ago
Contract Period
31 Mar 2025 - 31 Mar 2026 6-12 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Contracting Authority (Buyer)

Main Buyer
SOMERSET NHS FOUNDATION TRUST
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
TAUNTON
Postcode
TA1 4DY
Post Town
Taunton
Country
England

Major Region (ITL 1)
TLK South West (England)
Basic Region (ITL 2)
TLK6 North Somerset, Somerset and Dorset
Small Region (ITL 3)
TLK62 Somerset
Delivery Location
TLK South West (England)

Local Authority
Somerset
Electoral Ward
Bishop's Hull & Taunton West
Westminster Constituency
Taunton and Wellington

Supplier Information

Number of Suppliers
1
Supplier Name

AMERICAN INTERNATIONAL GROUP (UK) LTD (AIG

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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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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