Award

Investment Property Insurance Tender

TORBAY COUNCIL

This public procurement record has 1 release in its history.

Award

07 Mar 2024 at 16:11

Award Notice
Summary of the contracting process

The Torbay Council has recently completed an award for the procurement of Investment Property Insurance services, with a contract value of £588,000 in GBP. The tender was classified under the industry category of Financial and insurance services (CPV code: 66000000). The procurement method used was a direct award via waiver, with the tender period ending on November 29, 2023, and the contract period scheduled from December 1, 2023, to November 30, 2026. The buying organisation, Torbay Council, located in Torquay, England, conducted this procurement process.

This tender by the Torbay Council presents a lucrative opportunity for insurance service providers interested in offering Property and Legal Liability Insurance solutions. Businesses in the financial and insurance services sector would be well-suited to compete for such contracts. The contract value and duration provide a stable source of revenue for the winning supplier, in this case, Royal Sun Alliance Insurance Ltd, a large-scale supplier based in Horsham, West Sussex.

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Notice Information

Notice Title

Investment Property Insurance Tender

Notice Description

Property and Legal Liability Insurance

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-da9a7111-ea7a-4573-86ec-8d2a69232807
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/0cdf2aef-a1b3-4fce-9aaa-30a4afe607fd
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Other - Direct award via waiver
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

Notice Value(s)

Tender Value
£588,000 £500K-£1M
Lots Value
Not specified
Awards Value
£588,000 £500K-£1M
Contracts Value
Not specified

Notice Dates

Publication Date
7 Mar 20241 years ago
Submission Deadline
29 Nov 2023Expired
Future Notice Date
Not specified
Award Date
29 Nov 20232 years ago
Contract Period
1 Dec 2023 - 30 Nov 2026 3-4 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
TORBAY COUNCIL
Contact Name
Commercial Services
Contact Email
commercial.services@torbay.gov.uk
Contact Phone
01803 208391

Buyer Location

Locality
TORQUAY
Postcode
TQ1 3DR
Post Town
Torquay
Country
England
Major Region (ITL 1)
TLK South West (England)
Basic Region (ITL 2)
TLK4 Devon
Small Region (ITL 3)
TLK42 Torbay
Delivery Location
TLK South West (England)
Local Authority
Torbay
Electoral Ward
Tormohun
Westminster Constituency
Torbay

Supplier Information

Number of Suppliers
1
Supplier Name

ROYAL SUN ALLIANCE INSURANCE

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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