Award

1

POOL REINSURANCE COMPANY LIMITED

This public procurement record has 2 releases in its history.

Award

16 Apr 2024 at 08:37

Tender

04 Oct 2023 at 13:31

Summary of the contracting process

The Pool Reinsurance Company Limited recently awarded a contract for Loss Adjuster services in London. The procurement method was a limited procedure without prior publication of a call for competition. The contract value is GBP 36,000, signed on April 8, 2024. The procurement process was completed, and the main procurement category was services related to insurance claims adjustment services.

This tender provides an opportunity for businesses operating in the insurance claims adjustment services industry to compete for contracts with the Pool Re. Companies specialising in loss adjusting services tailored to handle large loss events and additional loss adjusting resources are well-suited to participate in this tender. The contract period for this opportunity was specified as five years with an option to extend for three additional one-year periods. The submission deadline for bids was on November 20, 2023, with electronic submission as the preferred method.

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Notice Title

1

Notice Description

The primary function of Pool Re is to pay eligible claims to its members ("Members") following a terrorism event. To ensure that Pool Re performs its role in an accurate, timely and cost- effective manner and to prevent any reputational damage, Pool Re must be ready to respond to incidents as they occur, whether it is a small, isolated incident or a catastrophic event. Should a large loss event occur, the volume of claims and referrals that would be received from Pool Re Members would be extremely large. To ensure that the claims and referrals are reviewed promptly, there may be a requirement for additional loss adjusting resource at Pool Re, subject to the size of the relevant loss event. If required, the additional resource provided by the Supplier will assist the Pool Re Claims Manager in reviewing claims above individual Members' Large Loss limits, review, collate and calculate the erosion of Members' retentions and ensure the service provided to Members and other stakeholders is of the highest standard.

Lot Information

Lot 1

The primary function of Pool Re is to pay eligible claims to its members ("Members") following a terrorism event. To ensure that Pool Re performs its role in an accurate, timely and cost- effective manner and to prevent any reputational damage, Pool Re must be ready to respond to incidents as they occur, whether it is a small, isolated incident or a catastrophic event. Should a large loss event occur, the volume of claims and referrals that would be received from Pool Re Members would be extremely large. To ensure that the claims and referrals are reviewed promptly, there may be a requirement for additional loss adjusting resource at Pool Re, subject to the size of the relevant loss event. If required, the additional resource provided by the Supplier will assist the Pool Re Claims Manager in reviewing claims above individual Members' Large Loss limits, review, collate and calculate the erosion of Members' retentions and ensure the service provided to Members and other stakeholders is of the highest standard. Additional information: Retainer fee per Year is PS12,000.

Renewal: The contract requirements will be for five (5) years with the option for Pool Re to extend for a further three (3) x 12 month extension periods.

Procurement Information

No tenders or requests to participate were received for the opportunity advertised on both Contracts Finder and Find a Tender Service .

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-0407e6
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/012268-2024
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Limited
Procurement Method Details
Award procedure without prior publication of a call for competition
Tender Suitability
Not specified
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66518300 - Insurance claims adjustment services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£36,000 Under £100K

Notice Dates

Publication Date
16 Apr 20241 years ago
Submission Deadline
20 Nov 2023Expired
Future Notice Date
Not specified
Award Date
7 Apr 20241 years ago
Contract Period
Not specified - Not specified
Recurrence
4 to 5 years

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
POOL REINSURANCE COMPANY LIMITED
Contact Name
Not specified
Contact Email
commercialservices@poolre.co.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
EC4R 9AF
Post Town
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
TLI London

Local Authority
City of London
Electoral Ward
Candlewick
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

WILLIAMS PITT (INTERNATIONAL

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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