Award

Residential Leasehold, shared ownership & mortgaged properties insurance scheme

LONDON BOROUGH OF HILLINGDON

This public procurement record has 1 release in its history.

Award

26 Jul 2019 at 13:35

Award Notice
Summary of the contracting process

The London Borough of Hillingdon is seeking a competent insurance scheme provider for its "Residential Leasehold, shared ownership & mortgaged properties insurance scheme." The procurement process, currently at the Award stage, has a total contract value of £1,401,000 and relates to Property insurance services within the insurance industry. Key dates include the contract period starting on 1st April 2019 and ending on 31st March 2022, with the tender period having concluded on 15th October 2018. The service locations predominantly cover the residential properties within the London Borough of Hillingdon.

This tender presents significant business opportunities, particularly for small and medium-sized enterprises (SMEs) and voluntary, community, and social enterprises (VCSEs) that specialise in property insurance and claims handling. Given the detailed requirements for material damage cover and the management of various types of residential properties, companies with experience in comprehensive insurance services tailored to communal living arrangements would be well-suited to compete. Potential bidders should consider demonstrating their capability in flexible underwriting and ease of administration to align with the Council's expectations.

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Notice Information

Notice Title

Residential Leasehold, shared ownership & mortgaged properties insurance scheme

Notice Description

The London Borough of Hillingdon are seeking a suitable qualified and competent insurance scheme provider for residential leasehold, shared ownership and mortgaged properties Each of the Residential Buildings insured will be treated as if it is insured by a separate policy. The Council has a financial/insurable interest in these properties, in most cases as the freeholder. A standard clause in all the leases imposes a responsibility upon the Council to arrange the buildings insurance. The insurance cover is required for Communal Parts - Tenderers need to be aware that leaseholders are responsible, under the terms of their lease, for contributing to the cost of communal/shared works to deal with insured perils, and that this responsibility should be reflected in the buildings insurance arrangements. It is desirable that the Policy should not be subject to Average. Copies of policy wording, examples of policy booklets/schedules for circulation at inception of scheme and annual summary of cover documentation should be provided and a flexible approach to underwriting is desirable. Ease of Administration is desirable, such as the requirements for declarations and the notifications of new properties. The policy operates with a common renewal date. COVER REQUIREMENTS Insured: London Borough of Hillingdon and their respective leaseholders and/or freeholders and/or part owners. Automatic interest of the freeholder and the head lessee of the residential property (if they are not the policyholder), the owner or lessee of each residential property and the mortgagee of any of them are deemed to be automatically noted. Covering: Residential Leasehold Properties, Shared Ownership and Mortgaged Properties in London Borough of Hillingdon and Freeholders with a London Borough of Hillingdon Mortgage. SUMMARY OF COVER REQUIRED A. Insurance and Claims handling in respect of: - Material Damage cover for 'All Risks' of accidental physical loss or damage to the properties insured, including Terrorism. - Loss of Rent /Alternative accommodation - Property Owners Liability - Limit of indemnity PS5,000,000 - Legal Expenses - Limit of indemnity PS10,000 - Claims Handling arrangements B.Material Damage For any Leasehold, Mortgaged or Equity Share residential/and or commercial property including the landlord's contents and common parts. Buildings Perils: - Full detailed requirements in the Specification

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-e87e6d39-1417-4baa-bf93-3b55232bc85f
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/d02976ec-d4c7-4ae2-88cd-4295dcceba89
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 (above threshold)
Tender Suitability
SME, VCSE
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66515200 - Property insurance services

Notice Value(s)

Tender Value
£1,400,000 £1M-£10M
Lots Value
Not specified
Awards Value
£1,801,080 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
26 Jul 20196 years ago
Submission Deadline
15 Oct 2018Expired
Future Notice Date
Not specified
Award Date
21 Dec 20187 years ago
Contract Period
31 Mar 2019 - 31 Mar 2022 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
LONDON BOROUGH OF HILLINGDON
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
UXBRIDGE
Postcode
UB8 1UW
Post Town
Southall
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI7 Outer London - West and North West
Small Region (ITL 3)
TLI74 Harrow and Hillingdon
Delivery Location
Not specified
Local Authority
Hillingdon
Electoral Ward
Uxbridge
Westminster Constituency
Uxbridge and South Ruislip

Supplier Information

Number of Suppliers
1
Supplier Name

AVID INSURANCE SERVICES

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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