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SPS 2521 - Leasehold (RTB) Properties Insurance

Royal Borough of Greenwich

This public procurement record has 2 releases in its history.

Award

23 May 2022 at 11:37

Award Notice
Tender

27 Sep 2021 at 15:56

Tender Notice
Summary of the contracting process

The Royal Borough of Greenwich has completed the procurement process for Property Insurance related to leasehold/RTB properties. The contract, titled "SPS 2521 - Leasehold (RTB) Properties Insurance," falls under the services industry category and was initiated through an open tender procedure. The award criteria focused on quality of policy cover, claims handling, and price, with a total contract value of approximately £4.72 million. The contract is active and commenced on 1st April 2022, with a duration of three years, extendable at the authority's discretion for up to two additional years. The delivery addresses for the services are within the UKI51 region.

This procurement presents significant growth opportunities for businesses specialising in property insurance services. Companies with experience in cover for leasehold properties, particularly those offering high-quality claims handling and policy options, would be well-positioned to compete in this tender. The inclusion of a long-term agreement provides stability for potential suppliers, and successful bidders could gain a valuable foothold in servicing the insurance needs of local authorities and similar clients, thereby expanding their market presence.

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Notice Information

Notice Title

SPS 2521 - Leasehold (RTB) Properties Insurance

Notice Description

The Royal Borough of Greenwich is seeking tender submissions for Property Insurance in respect of leasehold/RTB properties (excluding Broker Services). There is 1 lot.

Lot Information

Lot 1

Royal Borough of Greenwich is seeking tender submissions for Property Insurance in respect of leasehold/RTB properties, excluding broker services. Detailed description of the service is provided in the tender documents. The contract will commence 1st April 2022 under a 3-year Long Term Agreement with the option to extend for a further 1 year plus 1 year making it a potential contract period of 5 years at the authority's sole discretion.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-02e514
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/013759-2022
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
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66515000 - Damage or loss insurance services

66515100 - Fire insurance services

66515200 - Property insurance services

66515400 - Weather-related insurance services

Notice Value(s)

Tender Value
£5,000,000 £1M-£10M
Lots Value
£5,000,000 £1M-£10M
Awards Value
Not specified
Contracts Value
£4,718,182 £1M-£10M

Notice Dates

Publication Date
23 May 20224 years ago
Submission Deadline
26 Oct 2021Expired
Future Notice Date
Not specified
Award Date
2 Mar 20224 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
Royal Borough of Greenwich
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
SE18 6HQ
Postcode Area
South East London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI5 Outer London - East and North East
Small Region (ITL 3)
TLI51 Bexley and Greenwich
Delivery Location
TLI51 Bexley and Greenwich
Local Authority
Greenwich
Electoral Ward
Woolwich Arsenal
Westminster Constituency
Greenwich and Woolwich

Supplier Information

Number of Suppliers
1
Supplier Name

Avid insurance services ltd

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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