D3 Tenders | U.M. Association Ltd

Notice Information

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Notice Title

U.M. Association Ltd

Notice Description

This Voluntary Ex-Ante Transparency (VEAT) relates to the annual renewal for part of the University of Birmingham's Insurance provision.

Lot Information

Lot 1

This Voluntary Ex-Ante Transparency (VEAT) relates to the annual renewal for part of the University of Birmingham's Insurance provision. The University is proposing to extend their existing contract with UMAL for the provision of this service for a period of one year, with the option to extend for a further one year, whilst a full review of the University estate, Insurance requirements and preparation for the tender process is undertaken. UMAL are the University's current insurance provider and there are several reasons, detailed below, as to why the University is unable to change provider at this time. * A wholesale valuation of the University's Buildings, Property and Contents is required in order to properly demonstrate the value of the Estate; * A review with internal stakeholders is required to properly understand all manner of risks, including Liability, Travel, Research, Financial, and Reputational; * A review with The Executive Group is required to understand the Risk Tolerance of the University; It is essential all of the above is undertaken prior to a Tender process commencing in order for the University to discharge its responsibilities under the Insurance Act 2015 wherein it must disclose all material facts which may affect a prudent insurer's judgment. If the University is found to be non-compliant, cover may be withdrawn or cancelled, and claims may not be paid. UMAL is a Mutual comprising approximately 154 UK universities with the University being one of its first members. The University is also its largest member is terms of contribution and portfolio value. Some of the benefits of being a Member of a Mutual are: an annual Credit Note, Member Loyalty Bonus, and no requirement to pay Insurance Premium Tax at 12% of the value of the contributions (overall PS2.5m this year). UMAL currently provides the level of cover required by the University and is also able to arrange further covers should these be required.

Procurement Information

This Voluntary Ex-Ante Transparency (VEAT) relates to the annual renewal for part of the University of Birmingham's Insurance provision. The University is proposing to extend their existing contract with UMAL for the provision of this service for a period of one year, with the option to extend for a further one year, whilst a full review of the University estate, Insurance requirements and preparation for the tender process is undertaken. UMAL are the University's current insurance provider and there are several reasons, detailed below, as to why the University is unable to change provider at this time. * A wholesale valuation of the University's Buildings, Property and Contents is required in order to properly demonstrate the value of the Estate; * A review with internal stakeholders is required to properly understand all manner of risks, including Liability, Travel, Research, Financial, and Reputational; * A review with The Executive Group is required to understand the Risk Tolerance of the University; It is essential all of the above is undertaken prior to a Tender process commencing in order for the University to discharge its responsibilities under the Insurance Act 2015 wherein it must disclose all material facts which may affect a prudent insurer's judgment. If the University is found to be non-compliant, cover may be withdrawn or cancelled, and claims may not be paid. UMAL is a Mutual comprising approximately 154 UK universities with the University being one of its first members. The University is also its largest member is terms of contribution and portfolio value. Some of the benefits of being a Member of a Mutual are: an annual Credit Note, Member Loyalty Bonus, and no requirement to pay Insurance Premium Tax at 12% of the value of the contributions (overall PS2.5m this year). UMAL currently provides the level of cover required by the University and is also able to arrange further covers should these be required.

Notice Details

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Publication & Lifecycle

Open Contracting ID: ocds-h6vhtk-0488d2
Publication Source: Find A Tender Service
Latest Notice: https://www.find-tender.service.gov.uk/Notice/024997-2024
Current Stage: Award
All Stages: Award

Procurement Classification

Notice Type: Award Notice
Procurement Type: Standard
Procurement Category: Services
Procurement Method: Limited
Procurement Method Details: Negotiated without publication of a contract notice
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: £6,000,000 £1M-£10M

Notice Dates

Publication Date: 8 Aug 20241 years ago
Submission Deadline: Not specified
Future Notice Date: Not specified
Award Date: 7 Aug 20241 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

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Contracting Authority (Buyer)

Main Buyer: THE UNIVERSITY OF BIRMINGHAM
Contact Name: Available with D3 Tenders Premium →
Contact Email: Available with D3 Tenders Premium →
Contact Phone: Available with D3 Tenders Premium →

Buyer Location

Locality: BIRMINGHAM
Postcode: B15 2TT
Post Town: Birmingham
Country: England
Major Region (ITL 1): TLG West Midlands (England)
Basic Region (ITL 2): TLG3 West Midlands
Small Region (ITL 3): TLG31 Birmingham
Delivery Location: TLG31 Birmingham
Local Authority: Birmingham
Electoral Ward: Edgbaston
Westminster Constituency: Birmingham Edgbaston

Supplier Information

Number of Suppliers: 1
Supplier Name: U.M. ASSOCIATION

Further Information

Notice URLs

https://www.birmingham.ac.uk/

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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