Planning

Closed Insurance Estates Preliminary Market Engagement

FINANCIAL SERVICES COMPENSATION SCHEME

This public procurement record has 1 release in its history.

Planning

13 May 2025 at 09:05

UK2 - Preliminary Market Engagement Notice
Summary of the contracting process

The Financial Services Compensation Scheme (FSCS), located at Beaufort House in London, is currently in the planning stage of a procurement process titled "Closed Insurance Estates Preliminary Market Engagement." This initiative is categorised under the financial and insurance services industry and targets general insurance run-off management, particularly for claims involving long-tail liabilities such as industrial diseases. This planning phase includes a request for information, inviting suppliers to participate in a preliminary market engagement exercise, with responses due by 9th June 2025 via the Delta e-sourcing portal. The procurement process anticipates involving multiple contract opportunities, with an estimated gross value of £10 million and a potential contract period extending from April 2027 until March 2035.

This procurement process presents significant opportunities for firms involved in claims management and insurance services, particularly those with expertise in managing complex and long-term insurance claims. Businesses specialising in financial and insurance services, especially those adept at handling industrial disease claims and structurally complex liabilities, are well-suited to engage in this tender. This opportunity not only aids in revenue growth but also enhances industry reputation by aligning with a high-profile national statutory fund's needs. Participation in this market engagement could position these firms for future contracting opportunities as FSCS continues to manage claims for its closed insurance estates.

Find more tenders on our Open Data Platform.
How relevant is this notice?

D3 Tenders Premium

Win More Public Sector Contracts

AI-powered tender discovery, pipeline management, and market intelligence — everything you need to grow your public sector business.

Start Free Trial Book a Demo
All Features Pricing

Notice Information

Notice Title

Closed Insurance Estates Preliminary Market Engagement

Notice Description

FSCS is the United Kingdom's statutory fund of last resort for customers of financial services firms and this market sounding is specific to general insurance, FSCS may pay compensation where it is satisfied that an eligible claimant has a protected indemnity claim against an authorised insurer who is in default. In the event of an insurer failure, primary responsibility for claims handling rests with the court appointed Insolvency Practitioner. Often the period required to resolve the failed insurer's insurance liabilities extends beyond the conclusion of any insolvency proceedings, at which point the Insolvency Practitioner is no longer appointed. This is particularly the case with 'long-tail' liabilities. In these circumstances, FSCS takes on responsibility for managing the claims run-off. Long-tail liabilities commonly reference chronic industrial diseases and illnesses (e.g., noise induced hearing loss, asbestosis, and mesothelioma) caused by an employee's exposure to a hazardous working environment. Industrial disease and illness claims are technically complex to manage and present significant service, reputational and financial risks for FSCS should errors occur in the claims handling process. FSCS currently manages claims for a number of closed insurance estates. Due to the presence of asbestos related claims these insurance estates are expected to continue in run-off for the next c.20 years (based on data published by the Institute and Faculty of Actuaries, UK Asbestos Working Party update, September 2019). There is also the potential for FSCS to directly manage the run-off of other claims types including complex structural building defect claims and 3rd party motor injury claims. For more information about this opportunity, please visit the Delta eSourcing portal at: https://www.delta-esourcing.com/tenders/UK-title/VYBUYWV847 To respond to this opportunity, please click here: https://www.delta-esourcing.com/respond/VYBUYWV847

Planning Information

This is a Request For Information - This notice is intended to alert potential suppliers of the opportunity to take part in the preliminary market engagement exercise only. Interested parties are invited to respond to the questionnaire linked to this notice. The questionnaire must be responded to via the Delta e-sourcing portal. All indicative contract dates and values are purely an initial estimate at this stage and further information would be provided at any future tender stage.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-0511ad
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/020724-2025
Current Stage
Planning
All Stages
Planning

Procurement Classification

Notice Type
UK2 - Preliminary Market Engagement Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Not specified
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

66500000 - Insurance and pension services

66510000 - Insurance services

66512000 - Accident and health insurance services

66512100 - Accident insurance services

66512200 - Health insurance services

Notice Value(s)

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

Notice Dates

Publication Date
13 May 20259 months ago
Submission Deadline
Not specified
Future Notice Date
9 Jun 2025Expired
Award Date
Not specified
Contract Period
1 Apr 2027 - 31 Mar 2032 Over 5 years
Recurrence
Not specified

Notice Status

Tender Status
Planning
Lots Status
Planning
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
FINANCIAL SERVICES COMPENSATION SCHEME
Contact Name
James Platt
Contact Email
james.platt@fscs.org.uk
Contact Phone
0207 375 8175

Buyer Location

Locality
LONDON
Postcode
EC3A 7QU
Post Town
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
Portsoken
Westminster Constituency
Cities of London and Westminster

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

Download

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. 

{
    "tag": [
        "compiled"
    ],
    "id": "ocds-h6vhtk-0511ad-2025-05-13T10:05:24+01:00",
    "date": "2025-05-13T10:05:24+01:00",
    "ocid": "ocds-h6vhtk-0511ad",
    "initiationType": "tender",
    "parties": [
        {
            "id": "GB-PPON-PNMP-1789-RLBG",
            "name": "Financial Services Compensation Scheme",
            "identifier": {
                "scheme": "GB-PPON",
                "id": "PNMP-1789-RLBG"
            },
            "address": {
                "streetAddress": "Beaufort House, 15 St. Botolph Street",
                "locality": "London",
                "postalCode": "EC3A 7QU",
                "country": "GB",
                "countryName": "United Kingdom",
                "region": "UKI31"
            },
            "contactPoint": {
                "name": "James Platt",
                "email": "james.platt@fscs.org.uk",
                "telephone": "0207 375 8175"
            },
            "roles": [
                "buyer"
            ],
            "details": {
                "classifications": [
                    {
                        "scheme": "UK_CA_TYPE",
                        "id": "publicAuthoritySubCentralGovernment",
                        "description": "Public authority - sub-central government"
                    }
                ]
            }
        }
    ],
    "buyer": {
        "id": "GB-PPON-PNMP-1789-RLBG",
        "name": "Financial Services Compensation Scheme"
    },
    "planning": {
        "milestones": [
            {
                "id": "engagement",
                "type": "engagement",
                "description": "This is a Request For Information - This notice is intended to alert potential suppliers of the opportunity to take part in the preliminary market engagement exercise only. Interested parties are invited to respond to the questionnaire linked to this notice. The questionnaire must be responded to via the Delta e-sourcing portal. All indicative contract dates and values are purely an initial estimate at this stage and further information would be provided at any future tender stage.",
                "dueDate": "2025-06-09T23:59:59Z",
                "status": "scheduled"
            }
        ],
        "documents": [
            {
                "id": "020724-2025",
                "documentType": "marketEngagementNotice",
                "noticeType": "UK2",
                "description": "Preliminary market engagement notice on Find a Tender",
                "url": "https://www.find-tender.service.gov.uk/Notice/020724-2025",
                "datePublished": "2025-05-13T10:05:24+01:00",
                "format": "text/html"
            }
        ]
    },
    "tender": {
        "id": "ocds-h6vhtk-0511ad",
        "legalBasis": {
            "id": "2023/54",
            "scheme": "UKPGA",
            "uri": "https://www.legislation.gov.uk/ukpga/2023/54/contents"
        },
        "title": "Closed Insurance Estates Preliminary Market Engagement",
        "description": "FSCS is the United Kingdom's statutory fund of last resort for customers of financial services firms and this market sounding is specific to general insurance, FSCS may pay compensation where it is satisfied that an eligible claimant has a protected indemnity claim against an authorised insurer who is in default. In the event of an insurer failure, primary responsibility for claims handling rests with the court appointed Insolvency Practitioner. Often the period required to resolve the failed insurer's insurance liabilities extends beyond the conclusion of any insolvency proceedings, at which point the Insolvency Practitioner is no longer appointed. This is particularly the case with 'long-tail' liabilities. In these circumstances, FSCS takes on responsibility for managing the claims run-off. Long-tail liabilities commonly reference chronic industrial diseases and illnesses (e.g., noise induced hearing loss, asbestosis, and mesothelioma) caused by an employee's exposure to a hazardous working environment. Industrial disease and illness claims are technically complex to manage and present significant service, reputational and financial risks for FSCS should errors occur in the claims handling process. FSCS currently manages claims for a number of closed insurance estates. Due to the presence of asbestos related claims these insurance estates are expected to continue in run-off for the next c.20 years (based on data published by the Institute and Faculty of Actuaries, UK Asbestos Working Party update, September 2019). There is also the potential for FSCS to directly manage the run-off of other claims types including complex structural building defect claims and 3rd party motor injury claims. For more information about this opportunity, please visit the Delta eSourcing portal at: https://www.delta-esourcing.com/tenders/UK-title/VYBUYWV847 To respond to this opportunity, please click here: https://www.delta-esourcing.com/respond/VYBUYWV847",
        "items": [
            {
                "id": "FSCS537",
                "additionalClassifications": [
                    {
                        "scheme": "CPV",
                        "id": "66000000",
                        "description": "Financial and insurance services"
                    },
                    {
                        "scheme": "CPV",
                        "id": "66500000",
                        "description": "Insurance and pension services"
                    },
                    {
                        "scheme": "CPV",
                        "id": "66510000",
                        "description": "Insurance services"
                    },
                    {
                        "scheme": "CPV",
                        "id": "66512000",
                        "description": "Accident and health insurance services"
                    },
                    {
                        "scheme": "CPV",
                        "id": "66512100",
                        "description": "Accident insurance services"
                    },
                    {
                        "scheme": "CPV",
                        "id": "66512200",
                        "description": "Health insurance services"
                    }
                ],
                "relatedLot": "FSCS537"
            }
        ],
        "value": {
            "amountGross": 10000000,
            "currency": "GBP"
        },
        "mainProcurementCategory": "services",
        "aboveThreshold": true,
        "lots": [
            {
                "id": "FSCS537",
                "contractPeriod": {
                    "startDate": "2027-04-01T00:00:00Z",
                    "endDate": "2032-03-31T23:59:59Z",
                    "maxExtentDate": "2035-03-31T23:59:59Z"
                },
                "hasRenewal": true,
                "status": "planning"
            }
        ],
        "status": "planning"
    },
    "language": "en"
}