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Insurance services

Bank of England

This public procurement record has 1 release in its history.

Award

04 Mar 2021 at 13:25

Award Notice
Summary of the contracting process

The Bank of England has recently concluded a tender process for insurance services, specifically focusing on their annual insurance requirements, which include Property Damage, Business Interruption, Employer's Liability, Public Liability, Fine Art, Construction, Motor, and Personal Accident and Travel. This procurement falls under the services category and was conducted using an open procedure methodology. The awards for this tender were made to various suppliers, including Aviva Plc, Risk Management Partners Ltd, and others, with significant contract values signed on 5th February 2021.

This tender provides valuable growth opportunities for businesses specialising in insurance services, particularly those offering comprehensive coverage in areas such as property damage and liability insurance. Firms, both large and SMEs, that can demonstrate high-quality service standards and competitive pricing are well-positioned to compete for similar contracts in future procurements. The diverse range of insurance requirements suggests a broad market for specialised providers looking to expand their client base within the public sector.

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Notice Information

Notice Title

Insurance services

Notice Description

Bank of England annual insurances - Property Damage / Business Interruption, Employer's Liability and Public Liability, Fine Art, Construction, Motor, Personal Accident and Travel.

Lot Information

Property Damage and Business Interruption

This lot relates to property damage and business interruption insurance.

Primary Combined Liability (Employers Liability GBP 25 Million and Public Liability GBP 10 Million)

This lot relates to primary combined liability (employers liability GBP 25 million and public liability GBP 10 million) insurance.

Excess Combined Liability (EL GBP 25 Million in Excess of GBP 25 Million and PL GBP 40 Million in Excess of GBP 10 Million)

This lot relates to excess combined liability (EL GBP 25 million in excess of GBP 25 million and PL GBP 40 million in excess of GBP 10 million) insurance.

Excess Public Liability (GBP 50 Million in Excess of GBP 50 Million)

This lot relates to excess public liability (GBP 50 million in excess of GBP 50 million) insurance.

Fine Art

This lot relates to fine art insurance.

Construction

This lot relates to construction insurance.

Motor

This lot relates to motor insurance.

Personal Accident and Travel

This lot relates to personal accident and travel insurance.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-029852
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/004344-2021
Current Stage
Award
All Stages
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
Large, SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

66510000 - Insurance services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£752,773 £500K-£1M

Notice Dates

Publication Date
4 Mar 20215 years ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
5 Feb 20215 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Bank of England
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
EC2R 8AH
Postcode Area
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
Walbrook
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
5
Supplier Names

American International Group UK limited

Aviva Plc

Chubb European Group

HDI Global Specialty SE

Risk Management Partners Ltd

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

JSON Markdown

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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