Notice Information
Notice Title
Insurance Provision - Modification VEAT
Notice Description
This Voluntary Ex-Ante Transparency (VEAT) 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 Key Housing Association (KHA) and it's subsidiary, Community Lifestyles (CL), 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
Key Housing Association (KHA) and its subsidiary, Community Lifestyles (CL), intend to extend the existing Insurance Provision contract due to end 31 May 2024 to 31 May 2025 with Zurich Insurance Company Ltd who are the current insurance service Provider.
Procurement Information
This Voluntary Ex-Ante Transparency (VEAT) 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 Key Housing Association (KHA) and its subsidiary, Community Lifestyles (CL), could not have foreseen". Key Housing Association (KHA) and its subsidiary, Community Lifestyles (CL) intend to extend the existing Insurance Provision contract due to end 31 May 2024 to the 31 May 2025 with Zurich Insurance Company Ltd who are the current insurance service Provider. This informed decision based on; the ongoing insurance marketplace uncertainty reflective of the post-Brexit economic environment, the far-reaching impact of the war in Ukraine, recent challenges faced by RSL's relating to all services, and the current cost-of-living pressures; while concurrently seeking to ensure effective continuity of our insurance services to meet our statutory regulatory requirements. The insurance market for social housing providers has always been quite restricted, however in the field of property and liability this has hardened severely and quickly since the start of 2023. This has been accelerated by the departure of two main insurance providers to the Sector over the last 6 months, meaning the already limited capacity is much reduced. This has resulted in unsustainable market conditions, and we have seen insurers react this year applying significant rate increases on Renewals during the first quarter of 2024. KHA and CL intend to go out to the marketplace for a new contract for Insurance Provision and this procurement process will commence Q3 2024/25 with a target effective date contract date of 1 June 2025.
Notice Details
Publication & Lifecycle
- Open Contracting ID
- ocds-h6vhtk-042d62
- Publication Source
- Find A Tender Service
- Latest Notice
- https://www.find-tender.service.gov.uk/Notice/001366-2024
- 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
- £309,745 £100K-£500K
Notice Dates
- Publication Date
- 16 Jan 20242 years ago
- Submission Deadline
- Not specified
- Future Notice Date
- Not specified
- Award Date
- 15 Jan 20242 years ago
- Contract Period
- Not specified - Not specified
- Recurrence
- Not specified
Notice Status
- Tender Status
- Complete
- Lots Status
- Not Specified
- Awards Status
- Active
- Contracts Status
- Active
Buyer & Supplier
Contracting Authority (Buyer)
- Main Buyer
- KEY HOUSING ASSOCIATION
- Contact Name
- Asa Brooks
- Contact Email
- info@keyhousing.org
- Contact Phone
- +44 1413421890
Buyer Location
- Locality
- GLASGOW
- Postcode
- G4 0HT
- Post Town
- Glasgow
- Country
- Scotland
-
- Major Region (ITL 1)
- TLM Scotland
- Basic Region (ITL 2)
- TLM3 West Central Scotland
- Small Region (ITL 3)
- TLM32 Glasgow City
- Delivery Location
- TLM Scotland
-
- Local Authority
- Glasgow City
- Electoral Ward
- Anderston/City/Yorkhill
- Westminster Constituency
- Glasgow North
Further Information
Notice URLs
Open Contracting Data Standard (OCDS)
View full OCDS Record for this contracting process
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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