Award

Insurance Brokerage Services

THE FINANCIAL REPORTING COUNCIL LIMITED

This public procurement record has 2 releases in its history.

Award

07 Mar 2022 at 15:33

Award Notice
Tender

02 Dec 2021 at 13:41

Tender Notice
Summary of the contracting process

The Financial Reporting Council Limited (FRC) has completed the procurement process for Insurance Brokerage Services, having awarded the contract to Arthur J. Gallagher Insurance Brokers Limited. This procurement falls under the services category, specifically focusing on insurance brokerage services as per CPV code 66518100. The tender was published on 2nd December 2021, and the tender period concluded on 23rd December 2021. The contract period began on 15th February 2022 and will run until 14th February 2026, with a total contract value of £60,000 and a minimum value of £15,000. This was conducted through an open procurement method under the open procedure suitable for small and medium enterprises (SMEs) and voluntary and community sector enterprises (VCSEs).

This contract presents an opportunity for businesses within the insurance brokerage sector to engage with a prominent regulatory body in the UK. Companies that can offer competitive insurance coverage, as well as expert advice on policy negotiation and claims processing, will find this tender particularly relevant. With the FRC's commitment to enhancing audit quality and supporting corporate governance, firms that align their services with these goals are well-placed to leverage this opportunity and contribute to the UK's financial regulatory landscape.

Find more tenders on our Open Data Platform.
How relevant is this notice?

D3 Tenders Premium

Win More Public Sector Contracts

AI-powered tender discovery, pipeline management, and market intelligence — everything you need to grow your public sector business.

Start Free Trial Book a Demo
All Features Pricing

Notice Information

Notice Title

Insurance Brokerage Services

Notice Description

***THIS OPPORTUNITY IS CLOSED. THIS IS A CONTRACT AWARD NOTICE*** The Financial Reporting Council sets the UK accounting, audit and actuarial standards and administers the Corporate Governance and Stewardship Codes. As the competent authority for audit in the UK the FRC sets auditing and ethical standards and monitors and enforces audit quality. The FRC works in the public interest. Our work is aimed at investors and others who rely on company reports, audit, and high-quality risk management. The Financial Reporting Council is committed to * supporting the creation of a new regulator, the Audit, Reporting and Governance Authority (ARGA), which will be a strong and fit for-purpose regulator and provide increased confidence in the UK market. * Protecting and improving audit and reporting quality. * Making company reporting fit for the future. * Supporting the creation of the audit of the future * Ensuring that the world-leading UK Corporate Governance and Stewardship Codes make the UK a great place to do business, helping support Covid-19 recovery and UK prosperity. We also monitor and take action to promote the quality of corporate reporting and operate independent enforcement arrangements for accountants and actuaries. Further information about our role can be found at www.frc.org.uk. This Notice was related to our Insurance Brokerage Services Project. The FRC appointed a registered insurance broker/broker firm to procure competitive insurance covers and premiums, net of broking commission. Schedule A contains details of the wide portfolio of insurances maintained by the FRC. The appointed broker will be providing the following services: - * advice and assistance as required on all aspects of the FRC's insurance needs; * advice on, and negotiation of, renewal terms and premiums for the policies detailed in Schedule A; * advice on the levels of cover held and/or indemnities to be maintained under these policies; * advice and assistance on the processing of claims. Full details are available in the attached Invitation to Tender (ITT) and associated documents. Additional information: THIS OPPORTUNITY IS CLOSED. THIS IS A CONTRACT AWARD NOTICE.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-eec7906b-74e0-493f-9361-54669ebac96b
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/3e370f81-17bd-4ca4-8b2a-98af7d62be01
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (below threshold)
Tender Suitability
SME, VCSE
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66518100 - Insurance brokerage services

Notice Value(s)

Tender Value
£60,000 Under £100K
Lots Value
Not specified
Awards Value
£4 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
7 Mar 20223 years ago
Submission Deadline
23 Dec 2021Expired
Future Notice Date
Not specified
Award Date
14 Feb 20224 years ago
Contract Period
15 Feb 2022 - 14 Feb 2026 4-5 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
THE FINANCIAL REPORTING COUNCIL LIMITED
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
EC2Y 5AS
Post Town
Central London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified
Local Authority
City of London
Electoral Ward
Bassishaw
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

ARTHUR J. GALLAGHER INSURANCE BROKERS

Further Information

Notice Documents

Notice URLs

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

Download

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. 

{
    "tag": [
        "compiled"
    ],
    "id": "ocds-b5fd17-eec7906b-74e0-493f-9361-54669ebac96b-2022-03-07T15:33:39Z",
    "date": "2022-03-07T15:33:39Z",
    "ocid": "ocds-b5fd17-eec7906b-74e0-493f-9361-54669ebac96b",
    "language": "en",
    "initiationType": "tender",
    "tender": {
        "id": "FRC2021-083 Insurance Brokerage Services",
        "title": "Insurance Brokerage Services",
        "description": "***THIS OPPORTUNITY IS CLOSED. THIS IS A CONTRACT AWARD NOTICE*** The Financial Reporting Council sets the UK accounting, audit and actuarial standards and administers the Corporate Governance and Stewardship Codes. As the competent authority for audit in the UK the FRC sets auditing and ethical standards and monitors and enforces audit quality. The FRC works in the public interest. Our work is aimed at investors and others who rely on company reports, audit, and high-quality risk management. The Financial Reporting Council is committed to * supporting the creation of a new regulator, the Audit, Reporting and Governance Authority (ARGA), which will be a strong and fit for-purpose regulator and provide increased confidence in the UK market. * Protecting and improving audit and reporting quality. * Making company reporting fit for the future. * Supporting the creation of the audit of the future * Ensuring that the world-leading UK Corporate Governance and Stewardship Codes make the UK a great place to do business, helping support Covid-19 recovery and UK prosperity. We also monitor and take action to promote the quality of corporate reporting and operate independent enforcement arrangements for accountants and actuaries. Further information about our role can be found at www.frc.org.uk. This Notice was related to our Insurance Brokerage Services Project. The FRC appointed a registered insurance broker/broker firm to procure competitive insurance covers and premiums, net of broking commission. Schedule A contains details of the wide portfolio of insurances maintained by the FRC. The appointed broker will be providing the following services: - * advice and assistance as required on all aspects of the FRC's insurance needs; * advice on, and negotiation of, renewal terms and premiums for the policies detailed in Schedule A; * advice on the levels of cover held and/or indemnities to be maintained under these policies; * advice and assistance on the processing of claims. Full details are available in the attached Invitation to Tender (ITT) and associated documents. Additional information: THIS OPPORTUNITY IS CLOSED. THIS IS A CONTRACT AWARD NOTICE.",
        "datePublished": "2021-12-02T13:41:19Z",
        "status": "complete",
        "classification": {
            "scheme": "CPV",
            "id": "66518100",
            "description": "Insurance brokerage services"
        },
        "items": [
            {
                "id": "1",
                "deliveryAddresses": [
                    {
                        "postalCode": "EC2Y 5AS"
                    },
                    {
                        "postalCode": "EC2Y 5AS"
                    }
                ]
            }
        ],
        "minValue": {
            "amount": 15000,
            "currency": "GBP"
        },
        "value": {
            "amount": 60000,
            "currency": "GBP"
        },
        "procurementMethod": "open",
        "procurementMethodDetails": "Open procedure (below threshold)",
        "tenderPeriod": {
            "endDate": "2021-12-23T16:00:00Z"
        },
        "contractPeriod": {
            "startDate": "2022-02-15T00:00:00Z",
            "endDate": "2023-02-14T23:59:59Z"
        },
        "suitability": {
            "sme": true,
            "vcse": true
        },
        "mainProcurementCategory": "services",
        "documents": [
            {
                "id": "1",
                "documentType": "tenderNotice",
                "description": "Opportunity notice on Contracts Finder",
                "url": "https://www.contractsfinder.service.gov.uk/Notice/4bbbde87-cbdd-4bf5-b8db-72151390f3aa",
                "datePublished": "2021-12-02T13:41:19Z",
                "format": "text/html",
                "language": "en"
            },
            {
                "id": "2",
                "documentType": "technicalSpecifications",
                "description": "Invitation to Tender (ITT)",
                "url": "https://www.contractsfinder.service.gov.uk/Notice/Attachment/db9b5c5a-8b80-4515-ae01-5723f6bbcc49",
                "format": "application/pdf"
            },
            {
                "id": "3",
                "documentType": "contractDraft",
                "description": "Schedule B - Order Form and Contract Terms & Conditions",
                "url": "https://www.contractsfinder.service.gov.uk/Notice/Attachment/261c05a8-3a68-4e7e-8cb9-d08541f0d0b2",
                "format": "application/vnd.openxmlformats-officedocument.wordprocessingml.document"
            },
            {
                "id": "4",
                "documentType": "submissionDocuments",
                "description": "Schedule C - Form of Tender Submission",
                "url": "https://www.contractsfinder.service.gov.uk/Notice/Attachment/293cd95c-8842-4abd-bd2e-36f3054760ba",
                "format": "application/vnd.openxmlformats-officedocument.wordprocessingml.document"
            },
            {
                "id": "5",
                "documentType": "submissionDocuments",
                "description": "Supplier Due Diligence Questionnaire",
                "url": "https://www.contractsfinder.service.gov.uk/Notice/Attachment/65145739-8150-4d03-824b-cbd934212b4c",
                "format": "application/vnd.openxmlformats-officedocument.wordprocessingml.document"
            }
        ]
    },
    "parties": [
        {
            "id": "GB-SRS-sid4gov.cabinetoffice.gov.uk/Z4T88dvU",
            "name": "THE FINANCIAL REPORTING COUNCIL LIMITED",
            "identifier": {
                "legalName": "THE FINANCIAL REPORTING COUNCIL LIMITED",
                "scheme": "GB-SRS",
                "id": "sid4gov.cabinetoffice.gov.uk/Z4T88dvU"
            },
            "address": {
                "streetAddress": "8Th Floor,125 London Wall",
                "locality": "LONDON",
                "postalCode": "EC2Y5AS",
                "countryName": "England"
            },
            "contactPoint": {
                "name": "Head of Procurement",
                "email": "procurement@frc.org.uk",
                "telephone": "020 7492 2300"
            },
            "details": {
                "url": "http://www.frc.org.uk"
            },
            "roles": [
                "buyer"
            ]
        },
        {
            "id": "GB-COH-SC108909",
            "name": "Arthur J. Gallagher Insurance Brokers Limited",
            "identifier": {
                "legalName": "Arthur J. Gallagher Insurance Brokers Limited",
                "scheme": "GB-COH",
                "id": "SC108909"
            },
            "address": {
                "streetAddress": "Spectrum Building, 7th Floor 55 Blythswood Street Glasgow G2 7AT"
            },
            "details": {
                "scale": "large",
                "vcse": false
            },
            "roles": [
                "supplier"
            ]
        }
    ],
    "buyer": {
        "id": "GB-SRS-sid4gov.cabinetoffice.gov.uk/Z4T88dvU",
        "name": "THE FINANCIAL REPORTING COUNCIL LIMITED"
    },
    "awards": [
        {
            "id": "ocds-b5fd17-eec7906b-74e0-493f-9361-54669ebac96b-1",
            "status": "active",
            "date": "2022-02-14T00:00:00Z",
            "datePublished": "2022-03-07T15:33:39Z",
            "value": {
                "amount": 4,
                "currency": "GBP"
            },
            "suppliers": [
                {
                    "id": "GB-COH-SC108909",
                    "name": "Arthur J. Gallagher Insurance Brokers Limited"
                }
            ],
            "contractPeriod": {
                "startDate": "2022-02-15T00:00:00Z",
                "endDate": "2026-02-14T23:59:59Z"
            },
            "documents": [
                {
                    "id": "1",
                    "documentType": "awardNotice",
                    "description": "Awarded contract notice on Contracts Finder",
                    "url": "https://www.contractsfinder.service.gov.uk/Notice/3e370f81-17bd-4ca4-8b2a-98af7d62be01",
                    "datePublished": "2022-03-07T15:33:39Z",
                    "format": "text/html",
                    "language": "en"
                },
                {
                    "id": "2",
                    "documentType": "technicalSpecifications",
                    "description": "Invitation to Tender (ITT)",
                    "url": "https://www.contractsfinder.service.gov.uk/Notice/Attachment/db9b5c5a-8b80-4515-ae01-5723f6bbcc49",
                    "format": "application/pdf"
                },
                {
                    "id": "6",
                    "documentType": "contractDraft",
                    "description": "Schedule B - Order Form and Contract Terms & Conditions",
                    "url": "https://www.contractsfinder.service.gov.uk/Notice/Attachment/261c05a8-3a68-4e7e-8cb9-d08541f0d0b2",
                    "format": "application/vnd.openxmlformats-officedocument.wordprocessingml.document"
                },
                {
                    "id": "4",
                    "documentType": "submissionDocuments",
                    "description": "Schedule C - Form of Tender Submission",
                    "url": "https://www.contractsfinder.service.gov.uk/Notice/Attachment/293cd95c-8842-4abd-bd2e-36f3054760ba",
                    "format": "application/vnd.openxmlformats-officedocument.wordprocessingml.document"
                },
                {
                    "id": "5",
                    "documentType": "submissionDocuments",
                    "description": "Supplier Due Diligence Questionnaire",
                    "url": "https://www.contractsfinder.service.gov.uk/Notice/Attachment/65145739-8150-4d03-824b-cbd934212b4c",
                    "format": "application/vnd.openxmlformats-officedocument.wordprocessingml.document"
                }
            ]
        }
    ]
}