Award

Property Insurance of Leasehold Flats and Shared Ownership Properties excluding Broker Services

WOKINGHAM BOROUGH COUNCIL

This public procurement record has 2 releases in its history.

Award

23 Mar 2020 at 09:51

Award Notice
Tender

23 Oct 2019 at 13:44

Tender Notice
Summary of the contracting process

Wokingham Borough Council has recently completed a tender process for the provision of property insurance services for leasehold flats and shared ownership properties, valued at £335,000. The tender, initiated on 23rd October 2019, was conducted through an open procedure, with submissions due by 6th December 2019. The awarded contract is set to commence on 1st April 2020 and will run until 31st March 2023. This procurement is classified under the CPV code 66515200, relating to property insurance services, within the South East region of the United Kingdom.

This procurement presents significant opportunities for insurers and service providers specializing in property insurance, particularly those with expertise in managing insurance for leasehold properties and shared ownership schemes. Companies able to deliver these specific services, especially those familiar with the regulatory frameworks surrounding Right To Buy legislation, will find themselves well-positioned to compete in this market. Furthermore, the involvement of Wokingham Borough Council indicates a stable client with long-term agreements that can foster ongoing business relationships.

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Notice Information

Notice Title

Property Insurance of Leasehold Flats and Shared Ownership Properties excluding Broker Services

Notice Description

Wokingham Borough Council invites bids for the provision of its property insurance in respect of private dwellings sold on a leasehold basis, the majority of these were under the Right To Buy (RTB) legislation. The dwellings are flats in blocks and flats in houses (maisonettes) where the Council still retain the freehold ownership and the leases state that the Council, as the Freeholder, will arrange the buildings insurance on behalf of the Leaseholder and recharge the premium as part of the Service Charge. Other flats in some blocks have not been sold (Council tenanted) and are separately insured so insurance cover for these flats are not required. In addition there are a small number of shared ownership properties, being a mix of houses, maisonettes and flats.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-f77712d6-255b-4aea-b17d-2512b3457f66
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/32bc997a-298e-485e-8ecb-77c1fff2e1c9
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
Tender Suitability
Not specified
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66515200 - Property insurance services

Notice Value(s)

Tender Value
£335,000 £100K-£500K
Lots Value
Not specified
Awards Value
£335,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
23 Mar 20205 years ago
Submission Deadline
6 Dec 2019Expired
Future Notice Date
Not specified
Award Date
5 Mar 20205 years ago
Contract Period
31 Mar 2020 - 31 Mar 2023 2-3 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
WOKINGHAM BOROUGH COUNCIL
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
WOKINGHAM
Postcode
RG40 1BN
Post Town
Reading
Country
England
Major Region (ITL 1)
TLJ South East (England)
Basic Region (ITL 2)
TLJ1 Berkshire, Buckinghamshire and Oxfordshire
Small Region (ITL 3)
TLJ16 Berkshire West
Delivery Location
TLJ South East (England)
Local Authority
Wokingham
Electoral Ward
Emmbrook
Westminster Constituency
Wokingham

Supplier Information

Number of Suppliers
1
Supplier Name

AVID INSURANCE SERVICES

Further Information

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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