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Staffordshire Pension Fund Insurance

Staffordshire County Council

This public procurement record has 2 releases in its history.

Award

30 Sep 2024 at 09:08

Award Notice
Tender

30 Jul 2024 at 16:19

Tender Notice
Summary of the contracting process

The contract for the provision of Property Owners Combined and Terrorism insurance services for the Staffordshire Pension Fund has been awarded by Staffordshire County Council. The procurement process, classified under CPV code 66515200, covers services in the industry category of Property insurance services. The main procurement category is services, and the location of service delivery is in the UKG2 region. The contract period is set to start on 1 October 2024 and end on 30 September 2029. The procurement method used was an open procedure, and the total contract value is GBP 3.7 million. The award was made to Zurich Municipal on 30 September 2024.

This tender presents significant opportunities for businesses specialising in property insurance services, particularly those familiar with managing large portfolios and combined insurance requirements without broker services. Businesses offering competitive pricing and high-quality service could benefit greatly from such contracts, especially if they can provide specialised insurance coverage for commercial and industrial properties, material damage, loss of rent, and property owner liabilities. With the potential for a long-term three-year agreement extendable by two years, this presents a stable revenue stream and a robust platform for business growth.

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Notice Information

Notice Title

Staffordshire Pension Fund Insurance

Notice Description

Contract for the provision of Property Owners Combined and Terrorism excluding Broker Services. Staffordshire County Council is the Administering Authority for the Staffordshire Pension Fund ('the Fund'). The Fund has a total membership of 119,000, consisting of around 34,000 active members, 42,000 retired pensioners and dependants, and 43,000 deferred members. As of 31 March 2024, the assets of the Fund were in excess of PS7.5 billion This incorporates the Material Damage including Loss of Rent and Property Owners Liability # Material Damage - Commercial & Industrial Properties - Loss of Rent Property Owners Liability

Lot Information

Lot 1

Contract for the provision of Property Owners Combined and Terrorism excluding Broker Services. Staffordshire County Council is the Administering Authority for the Staffordshire Pension Fund ('the Fund'). The Fund has a total membership of 119,000, consisting of around 34,000 active members, 42,000 retired pensioners and dependants, and 43,000 deferred members. As of 31 March 2024, the assets of the Fund were in excess of PS7.5 billion This incorporates the Material Damage including Loss of Rent and Property Owners Liability # Material Damage - Commercial & Industrial Properties - Loss of Rent Property Owners Liability

Options: The Contracting Authority is looking for Tender responses based upon a Long Term Agreement of 3 years with an option to extend for a further 2 years

Renewal: The Contracting Authority is looking for Tender responses based upon a Long Term Agreement of 3 years with an option to extend for a further 2 years

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-048609
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/031104-2024
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

66515200 - Property insurance services

Notice Value(s)

Tender Value
£3,700,000 £1M-£10M
Lots Value
£3,700,000 £1M-£10M
Awards Value
Not specified
Contracts Value
£3,700,000 £1M-£10M

Notice Dates

Publication Date
30 Sep 20241 years ago
Submission Deadline
29 Aug 2024Expired
Future Notice Date
Not specified
Award Date
30 Sep 20241 years ago
Contract Period
1 Oct 2024 - 30 Sep 2029 Over 5 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
Staffordshire County Council
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
STAFFORD
Postcode
ST16 2DH
Postcode Area
Stoke-on-Trent
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG2 Shropshire and Staffordshire
Small Region (ITL 3)
TLG24 Staffordshire CC
Delivery Location
TLG2 Shropshire and Staffordshire
Local Authority
Stafford
Electoral Ward
Forebridge
Westminster Constituency
Stafford

Supplier Information

Number of Suppliers
1
Supplier Name

Zurich Municipal

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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