Award

Provision of Insurance Services for Leasehold Right to Buy Property (excluding provision of insurance broker service)

LONDON BOROUGH OF HACKNEY

This public procurement record has 1 release in its history.

Award

21 Mar 2021 at 19:46

Summary of the contracting process

The London Borough of Hackney is conducting a public procurement process for insurance services related to Leasehold Right to Buy properties, titled "Provision of Insurance Services for Leasehold Right to Buy Property." This tender falls under the services category and is classified as CPV code 66510000, focusing on Insurance services. The procurement is currently in the Award stage, with the contract, valued at £2,269,444.46, having been signed on 26 February 2021. The insurance cover is set to commence on 1 April 2021, under a long-term agreement lasting a minimum of three years, with the possibility of a two-year extension at the authority's discretion. The delivery addresses are located within the UK.

This tender presents significant opportunities for businesses specialising in insurance services, particularly those geared towards property insurance. Companies with a strong footing in providing comprehensive coverage, including material damage, business interruption, and liability insurance, would find themselves well-suited to compete for this contract. The competitive nature of this open procurement process, which received four bids, indicates a robust market interest and offers a chance for insurance firms to expand their client base within the public sector.

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Notice Title

Provision of Insurance Services for Leasehold Right to Buy Property (excluding provision of insurance broker service)

Notice Description

The London Borough was seeking tender submissions for annual insurance cover commencing from 1 April 2021 under a long term agreement (LTA) for a minimum period of 3 years with option to extend for a further 2 years at the authority's sole discretion.

Lot Information

Lot 1

Property insurance in respect of leasehold right to buy comprising material damage (perils as specified within the invitation to tender) business interruption to include loss of rental income and/ or alternative accommodation and property owner liability insurance.

Options: The contract is for 36 months. At the end of the 3 year contract there will be an option to extend up to a further 2 year period.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-029db8
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/005703-2021
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

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
£2,269,444 £1M-£10M

Notice Dates

Publication Date
21 Mar 20214 years ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
26 Feb 20214 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

Contracting Authority (Buyer)

Main Buyer
LONDON BOROUGH OF HACKNEY
Contact Name
Ms Jacqueline Rutherford
Contact Email
jacqueline.rutherford@hackney.gov.uk
Contact Phone
+44 2083565454

Buyer Location

Locality
HACKNEY
Postcode
E8 1DY
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
Not specified

Local Authority
Hackney
Electoral Ward
Hackney Central
Westminster Constituency
Hackney South and Shoreditch

Supplier Information

Number of Suppliers
1
Supplier Name

OASO

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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