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Insurance Provision - Modification

Prospect Community Housing Ltd

This public procurement record has 2 releases in its history.

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16 May 2024 at 15:50

Award Notice
Award

04 Oct 2023 at 14:36

Award Notice
Summary of the contracting process

Prospect Community Housing Ltd is modifying its existing Insurance Provision contract, extending it to 30th September 2026 with Marsh Ltd. The procurement process utilised Regulation 72(1)(c) without prior publication of a call for competition. The procurement falls outside the directive's scope, with the main industry category being insurance services. The decision to extend the contract was influenced by market conditions post-Brexit, challenges faced by RSLs, and cost-of-living pressures.

The extension of the Insurance Provision contract by Prospect Community Housing Ltd offers opportunities for insurance service providers to compete in the restricted market. Businesses experienced in insurance services, particularly those adaptable to changing market conditions, would be well-suited to participate. The procurement process for this contract provides an avenue for suppliers to offer innovative solutions to meet the statutory regulatory requirements of Prospect Community Housing Ltd.

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Notice Information

Notice Title

Insurance Provision - Modification

Notice Description

This Voluntary Ex-Ante Transparency (VEAT) notice relates to the extension of the existing Insurance Provision contract. Having sought advice, to meet our statutory regulatory requirements as a Registered Social Landlord, these public contracts shall be modified and awarded under Regulation 72 (1) (c) utilising the Modification of contracts during their term "by circumstances Prospect Community Housing (PCH) could not have foreseen". Justification of this intention together with full details of the intended contract are included within sections II.2.4 and IV.1.1 of this notice.

Lot Information

Lot 1

Prospect Community Housing (PCH) intends to extend the existing Insurance Provision contract due to end 30 September 2024 to the 30 September 2026 with Marsh Ltd who are the current insurance service Broker/provider.

Procurement Information

Award of a contract without prior publication of a call for competition

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-0407e8
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/015610-2024
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award 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

66510000 - Insurance services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£204,000 £100K-£500K

Notice Dates

Publication Date
16 May 20242 years ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
27 Sep 20232 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
Prospect Community Housing Ltd
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
EDINBURGH
Postcode
EH14 2TH
Postcode Area
Edinburgh
Country
Scotland
Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM1 East Central Scotland
Small Region (ITL 3)
TLM13 City of Edinburgh
Delivery Location
TLM75 City of Edinburgh
Local Authority
City of Edinburgh
Electoral Ward
Pentland Hills
Westminster Constituency
Edinburgh South West

Supplier Information

Number of Suppliers
1
Supplier Name

Marsh Ltd

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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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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