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Financial Lines Insurance Services

LUPC

This public procurement record has 2 releases in its history.

Award

03 Jul 2025 at 19:52

UK6 - Contract Award Notice
Tender

11 Apr 2025 at 16:37

UK4 - Tender Notice
Summary of the contracting process

The London Universities Purchasing Consortium (LUPC) has completed the Financial Lines Insurance Services procurement, involving three lots which focus on Management Liability, Crime, and Professional Indemnity. This competitive process, initiated as an open procurement method, was aimed at pooling insurance services for the LUPC Insurance Group, covering members from various regional university purchasing consortia across the United Kingdom. The procurement stage concluded with the contract awards on 3 July 2025, following the invitation for offers, and the standstill period extends until 15 July 2025. Contracting activities are set to begin on 1 August 2025 and are slated to run till 31 July 2028, with the possibility of renewals extending to 31 July 2030, contingent upon satisfactory performance and cost. Deliveries pertain to multiple regions throughout the UK, covering diverse geographical locations including UKC, UKI, and others.

This tender opens avenues for businesses, particularly those specialising in insurance services, to engage with a prolific consortium comprising universities and higher education institutions. Companies ranging from small to medium-sized enterprises, like Risk Management Partners Ltd., to larger entities such as Zurich Insurance Company Ltd., which participated as suppliers, are prime candidates to leverage this opportunity. Businesses adept in providing management liability, crime cover, and professional indemnity services, and those meeting high economic and technical standards, stand to benefit significantly. With the assurance of a structured and collaborative procurement approach as demonstrated by LUPC, successful bidders are positioned for growth and long-term contractual engagements with numerous educational institutions across the UK.

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Notice Information

Notice Title

Financial Lines Insurance Services

Notice Description

London Universities Purchasing Consortium (LUPC) is undertaking this tendering process for Financial Lines Insurance Services commencing 1 August 2025 across three lots made up of Management Liability, Crime and Professional Indemnity. Offers are invited on behalf of one of more lots. The Agreement is being tendered on behalf of the LUPC Insurance Group, a collaborative group of 27 participating institutions from the following purchasing organisations - London Universities Purchasing Consortium: http://www.lupc.ac.uk/list-of-members.html; Southern Universities Purchasing Consortium: http://www.supc.ac.uk/engage/our-members/our-members; and is also available to members of North East Universities Purchasing Consortium (NEUPC): http://www.neupc.ac.uk/our-members; and North West Universities Purchasing Consortium (NWUPC): http://www.nwupc.ac.uk/our-members. It should be noted that (1) LUPC is not seeking any broker services through this procurement; (2) stated inc. VAT values are inc. IPT (Insurance Premium Tax) and that (3) preliminary market engagement was undertaken in late January 2025, prior to commencement of the Procurement Act 2023.

Lot Information

Management Liability

To meet or exceed the Insurance Group's Management Liability cover requirements as defined in the specification within the documentation.

Renewal: The contracting authority will consider entering into long term agreements with the bidder(s). Regardless, each awarded contract is for an initial three years, with the option to extend for two further periods of one year each subject to satisfactory service, performance and cost.

Crime

To meet or exceed the Insurance Group's Crime cover requirements as defined in the specification within the documentation.

Renewal: The contracting authority will consider entering into long term agreements with the bidder(s). Regardless, each awarded contract is for an initial three years, with the option to extend for two further periods of one year each subject to satisfactory service, performance and cost.

Professional Indemnity

To meet or exceed the Insurance Group's Professional Indemnity cover requirements as defined in the specification within the documentation.

Renewal: The contracting authority will consider entering into long term agreements with the bidder(s). Regardless, each awarded contract is for an initial three years, with the option to extend for two further periods of one year each subject to satisfactory service, performance and cost.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-0501ea
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/037267-2025
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
UK6 - Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Competitive flexible procedure
Tender Suitability
SME
Awardee Scale
Large, SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66510000 - Insurance services

Notice Value(s)

Tender Value
£29,400,000 £10M-£100M
Lots Value
£29,400,000 £10M-£100M
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
3 Jul 20251 years ago
Submission Deadline
22 May 2025Expired
Future Notice Date
Not specified
Award Date
3 Jul 20251 years ago
Contract Period
1 Aug 2025 - 31 Jul 2028 3-4 years
Recurrence
2030-04-10

Notice Status

Tender Status
Complete
Lots Status
Complete
Awards Status
Pending
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
LUPC
Additional Buyers

London Universities Purchasing Consortium

Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
EC3R 8HN
Postcode Area
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
Not specified
Local Authority
City of London
Electoral Ward
Tower
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
3
Supplier Names

ARTHUR J. GALLAGHER (UK) LIMITED

RISK MANAGEMENT PARTNERS LTD.

ZURICH INSURANCE COMPANY LTD

Further Information

Notice Documents

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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