Award

Property Insurance: Leasehold Flats, Shared Ownership and Mortgaged Properties

LONDON BOROUGH OF HACKNEY

This public procurement record has 1 release in its history.

Award

11 Sep 2024 at 13:50

Summary of the contracting process

The London Borough of Hackney has successfully completed the procurement process for a property insurance contract covering leasehold flats, shared ownership and mortgaged properties. This insurance service, classified under the CPV code 66510000, is valued at £23,059,935 and covers properties across England, United Kingdom. The title of the tender is "Property Insurance: Leasehold Flats, Shared Ownership and Mortgaged Properties," and it was carried out under an open procedure. The tendering stage concluded on 16th October 2023, and the contract award was made on 1st March 2024. The contract period spans from 1st April 2024 to 31st March 2027.

The awarded contract presents significant opportunities for businesses involved in the insurance sector, particularly those with expertise in property insurance. Large-scale insurers, like the winning supplier, Protector Insurance, are well-suited for such tenders due to the scale and value of the contract. Businesses focusing on expanding their service offerings in the public sector, or those looking to establish long-term contracts with local government entities would find this tender advantageous for growth. Engaging in such contracts can lead to increased revenue streams and bolster an insurer's portfolio within the UK property market.

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Notice Title

Property Insurance: Leasehold Flats, Shared Ownership and Mortgaged Properties

Notice Description

Provision property insurance in respect of private dwellings sold on a leasehold basis, cover includes mortgaged properties and some shared ownership where the Council has agreed to continue the insurance arrangements.

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-c4337044-eeaf-4128-a30d-9511cc1eb0c9
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/4844786a-d85c-44d7-bcf4-4335df815479
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
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
£22,000,000 £10M-£100M
Lots Value
Not specified
Awards Value
£23,059,935 £10M-£100M
Contracts Value
Not specified

Notice Dates

Publication Date
11 Sep 20241 years ago
Submission Deadline
16 Oct 2023Expired
Future Notice Date
Not specified
Award Date
1 Mar 20241 years ago
Contract Period
31 Mar 2024 - 31 Mar 2027 2-3 years
Recurrence
Not specified

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
LONDON BOROUGH OF HACKNEY
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
HACKNEY
Postcode
E8 1DY
Post Town
East London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI41 Hackney and Newham
Delivery Location
TLC North East (England), TLD North West (England), TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLJ South East (England), TLK South West (England)

Local Authority
Hackney
Electoral Ward
Hackney Central
Westminster Constituency
Hackney South and Shoreditch

Supplier Information

Number of Suppliers
1
Supplier Name

PROTECTOR INSURANCE

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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