Tender

Residential Leasehold, shared ownership & mortgaged properties insurance scheme

LONDON BOROUGH OF HILLINGDON

This public procurement record has 1 release in its history.

Tender

05 Oct 2018 at 15:29

Tender Notice
Summary of the contracting process

The London Borough of Hillingdon is currently seeking a qualified insurance scheme provider for a Residential Leasehold, Shared Ownership and Mortgaged Properties Insurance Scheme. This procurement falls under the category of property insurance services and is part of the open procurement method, allowing for competitive offers. The tender document was published on 5th October 2018, and the deadline for submissions is set for 5th November 2018. The contract is projected to commence on 1st April 2019 and will last until 31st March 2022, covering residential properties within the London Borough of Hillingdon.

This tender presents a significant opportunity for insurance companies experienced in managing residential property schemes. Businesses specialised in property insurance services, particularly those that can provide comprehensive coverage and effective claims handling, would be well-suited to participate. With a total contract value of £1.4 million, firms that offer flexibility in underwriting and efficient policy administration will likely find advantageous positions in this procurement process.

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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 Additional information: Full suite of tender documents can be found on www.capitalesourcing.com

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-f8e544ff-d402-489b-85a6-bc77969914d9
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/3d9f46e2-abcb-4976-97d4-af1049d14681
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

66515200 - Property insurance services

Notice Value(s)

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

Notice Dates

Publication Date
5 Oct 20187 years ago
Submission Deadline
5 Nov 2018Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
31 Mar 2019 - 31 Mar 2022 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 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
TLI London
Local Authority
Hillingdon
Electoral Ward
Uxbridge
Westminster Constituency
Uxbridge and South Ruislip

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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