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Provision of Insurance Services for Leasehold Right to Buy Property (exclude, provision of insurance broker service). 1/9/21

London Borough of Hackney

This public procurement record has 2 releases in its history.

Award

10 Mar 2022 at 12:12

Award Notice
Tender

10 Sep 2021 at 11:46

Tender Notice
Summary of the contracting process

The London Borough of Hackney is procuring insurance services for leasehold right-to-buy properties. The tender, titled "Provision of Insurance Services for Leasehold Right to Buy Property," is classified under the insurance services category and has a total contract value of £13,000,000. This open procurement process is currently active, having commenced with an end date for submissions set for 14 October 2021. The contract is scheduled to start on 1 April 2022 and will last for 36 months, with the possibility of a 24-month extension.

This procurement represents a significant opportunity for businesses specialising in insurance services, particularly those focusing on property insurance, damage or loss insurance, and liability insurance. With the London Borough of Hackney aiming to cover essential aspects such as business interruption and property owners' liability, firms that provide comprehensive insurance solutions would be well-suited to compete. This is especially relevant for SMEs looking to expand their service offering in the public sector, providing a pathway for business growth in a competitive market.

How relevant is this notice?

Notice Information

Notice Title

Provision of Insurance Services for Leasehold Right to Buy Property (exclude, provision of insurance broker service). 1/9/21

Notice Description

The provision of property insurance in respect of private dwelling sold by the London Borough of Hackney on a leasehold shared ownership or managed property basis. The contract start date 1st April 2022 - contract duration of 36 months plus a option to extend for 24 months.

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 cost and property owners liability insurance. (Exclude Booker Services).

Options: There is an option to extend for a further 24 months.

Renewal: The contract duration in months is 36 months. At the end of the 36 months period there will be an option to extend up to a further 24 months.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-02df69
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/006574-2022
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender 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

66510000 - Insurance services

66515000 - Damage or loss insurance services

66515200 - Property insurance services

Notice Value(s)

Tender Value
£13,000,000 £10M-£100M
Lots Value
£13,000,000 £10M-£100M
Awards Value
Not specified
Contracts Value
£2,614,384 £1M-£10M

Notice Dates

Publication Date
10 Mar 20224 years ago
Submission Deadline
14 Oct 2021Expired
Future Notice Date
Not specified
Award Date
22 Feb 20224 years ago
Contract Period
1 Apr 2022 - 31 Mar 2025 3-4 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
London Borough of Hackney
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
HACKNEY
Postcode
E8 1DY
Postcode Area
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

Avid Insurance Service

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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