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Insurance Brokerage (Non-Life) including Risk Management Services

London Universities Purchasing Consortium

This public procurement record has 3 releases in its history.

Award

02 Sep 2021 at 11:23

Award Notice
Tender

31 Mar 2021 at 13:06

Tender Notice
Planning

03 Feb 2021 at 16:05

Planning Notice
Summary of the contracting process

The London Universities Purchasing Consortium (LUPC) has completed a procurement process for 'Insurance Brokerage (Non-Life) including Risk Management Services', categorised under CPV code 66518100, which primarily covers insurance brokerage services. The tender was conducted on behalf of the LUPC Insurance Group, comprising approximately 40 institutions, and was initiated under open procurement procedures. The appointed broker, Arthur J. Gallagher Insurance Brokers Limited, is set to commence their services from 1 September 2021. This contract, with a total value of £3,000,000, is initially for three years with the potential to extend to seven years contingent upon satisfactory performance.

This tender presents significant growth opportunities for businesses specialising in insurance brokerage and risk management services, particularly those with a strong understanding of the higher education sector. Companies that are authorised and regulated by the UK Financial Conduct Authority, along with being members of the British Insurance Brokers’ Association, will be particularly well-suited to compete in this space. Additionally, firms capable of managing diverse insurance lines, including property, liability, and financial risks, will find this contract aligns with their service offerings, thus empowering them to expand their client base within the public sector.

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Notice Information

Notice Title

Insurance Brokerage (Non-Life) including Risk Management Services

Notice Description

London Universities Purchasing Consortium (LUPC) undertook this tendering process for Insurance brokerage services for and on behalf of the LUPC Insurance Group (IG), a group of 40 participating institutions, principally made up of more than 20 members of LUPC (https://www.lupc.ac.uk/member-list) together with a number of SUPC institutions (http://www.supc.ac.uk/our-members/) and one NWUPC member (https://www.nwupc.ac.uk/our-members). It is also possible that at some point within the lifetime of the agreement it may be used by Members (full and associate) of the NEUPC purchasing consortia: (http://www.neupc.ac.uk/who-are-our-members). The appointed broker will commence servicing the IG from 1 September 2021, which includes the placement and management of several insurance lines including but not limited to: property and business interruption, money risks, engineering, motor, employers and public liability, financial lines, terrorism and clinical trials.

Lot Information

Lot 1

London Universities Purchasing Consortium (LUPC), a company limited by guarantee, undertook this tendering process for Insurance brokerage services for and on behalf of the LUPC Insurance Group (IG), a group of 40 participating institutions, principally made up of more than 20 members of LUPC (https://www.lupc.ac.uk/member-list) together with a number of SUPC institutions (http://www.supc.ac.uk/our-members/) and one NWUPC member (https://www.nwupc.ac.uk/our-members), the University of Wolverhampton. In addition to these HE Consortia, it is also possible that at some point within the lifetime of the agreement it may be used by Members (full and associate) of the NEUPC purchasing consortia: (http://www.neupc.ac.uk/who-are-our-members). The appointed broker will commence servicing the IG from 1 September 2021, which includes the placement and management of several insurance lines including but not limited to: property and business interruption, money risks, engineering, motor, employers and public liability, financial lines, terrorism, clinical research and trials and cyber-related risks. The initial length of this non-framework, single-source contract is three years with the option to extend to seven years subject to satisfactory performance.

Renewal: The Contract will be established for an initial period of 3 years with an option to extend for a further period of up to a total of 7 years. The Contract is intended to start on 01/09/2021 or as otherwise agreed.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-028ff5
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/021721-2021
Current Stage
Award
All Stages
Planning, Tender, Award

Procurement Classification

Notice Type
Planning Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
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
£5,000,000 £1M-£10M
Lots Value
£5,000,000 £1M-£10M
Awards Value
Not specified
Contracts Value
£3,000,000 £1M-£10M

Notice Dates

Publication Date
2 Sep 20214 years ago
Submission Deadline
10 May 2021Expired
Future Notice Date
4 Feb 2021Expired
Award Date
31 Aug 20214 years ago
Contract Period
Not specified - Not specified
Recurrence
Between 5 and 7 years

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
London Universities Purchasing Consortium
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
W1T 7NZ
Postcode Area
West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI36 Camden
Delivery Location
Not specified
Local Authority
Camden
Electoral Ward
Bloomsbury
Westminster Constituency
Holborn and St Pancras

Supplier Information

Number of Suppliers
1
Supplier Name

Arthur J. Gallagher Insurance Brokers Limited

Further Information

Open Contracting Data Standard (OCDS)

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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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