Tender

The Provision of Insurance Coverage and Associated Service (excluding broking services) in respect of Leasehold Right to Buy (RTB) Residential Buildings Insurance

LONDON BOROUGH OF NEWHAM

This public procurement record has 1 release in its history.

Tender

18 Nov 2022 at 14:49

Tender Notice
Summary of the contracting process

The London Borough of Newham is seeking bids for the provision of insurance coverage and associated services for leasehold residential buildings under the Right To Buy legislation. The contract covers approximately 6,000 properties in London, with a total sum insured of £1 billion. The procurement is currently in the tender stage, with a deadline for submissions set for December 23, 2022. The contract period is anticipated to start on April 1, 2023, and run until March 31, 2026.

This tender presents an opportunity for insurance service providers interested in working with public authorities in the property insurance sector. Businesses offering insurance coverage and related services, particularly those experienced in managing large property portfolios, are well-suited to compete. The procurement method is an open procedure above the threshold, providing a fair and transparent opportunity for qualified firms to participate in the process.

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Notice Information

Notice Title

The Provision of Insurance Coverage and Associated Service (excluding broking services) in respect of Leasehold Right to Buy (RTB) Residential Buildings Insurance

Notice Description

The London Borough of Newham (Contracting Authority) invites bids for the provision of its property insurance in respect of private dwellings sold on a leasehold basis, the majority of which were under the Right To Buy (RTB) legislation. The dwellings are flats in blocks and flats in houses (maisonettes), where the Contracting Authority still retain the freehold ownership and the leases state that the Contracting Authority, as the Freeholder, will arrange the buildings insurance on behalf of the Leaseholder and recharge the premium as part of the Service Charge. The portfolio comprises approximately 6,000 properties with a total sum insured of PS1b. Other flats in some blocks have not been sold (Council tenanted) and are separately insured so insurance cover for these flats is not required. The number of properties change in the course of an insurance year as a result of the exercise of new rights to buy and buy-back of properties mainly within the Contracting Authority's regeneration area. The Contracting Authority's Insurance Department administers the process, including issuance and/or replacement of bespoke insurance documents. Please visit https://elyq.fa.em3.oraclecloud.com/fscmUI/faces/PrcPosRegisterSupplier?prcBuId=300000002089195 ("the Procurement Portal") for more information.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-f73a8b14-8156-4254-9a02-35111fc67700
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/bb74f742-97f8-4044-8a54-5d6bb5ab0ed8
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (above threshold)
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66510000 - Insurance services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
18 Nov 20223 years ago
Submission Deadline
23 Dec 2022Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
31 Mar 2023 - 31 Mar 2026 3-4 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
LONDON BOROUGH OF NEWHAM
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
E16 2QU
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
TLI London
Local Authority
Newham
Electoral Ward
Royal Albert
Westminster Constituency
West Ham and Beckton

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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