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Corporate Insurance Services

Reading Borough Council

This public procurement record has 3 releases in its history.

Award

20 Feb 2026 at 14:41

UK6 - Contract Award Notice
TenderUpdate

28 Oct 2025 at 15:54

UK4 - Tender Notice
Tender

28 Oct 2025 at 13:10

UK4 - Tender Notice
Summary of the contracting process

Reading Borough Council has successfully awarded contracts for Corporate Insurance Services for the upcoming period commencing on 1st April 2026. This procurement process involved an open procedure, targeting insurance services within the public authority sector, specifically under sub-central government classifications. Located in Reading, UK, the process entails various lots such as Property, Industrial & Commercial Property, Casualty, Motor Fleet, Engineering, and Fidelity Guarantee/Crime. The tender, valued at approximately £8.5 million, concluded its award stage on 20th February 2026, with the standstill period ending on 3rd March 2026. Most notably, Zurich Insurance Company Ltd secured Lot 7, which combines Lots 1, 3, and 4, reflecting a significant contracting advantage given the gross value of £5.5 million.

This tender presents robust opportunities for businesses specializing in insurance services to expand their portfolios and establish long-term partnerships with a key public authority like Reading Borough Council. It fosters growth for large insurance firms due to the substantial contract value and renewal options, including 2 x 2-year extensions, contingent on performance metrics. Additionally, SME firms, such as Risk Management Partners Ltd., have secured positions in the awarded contracts, suggesting potential advantages for smaller enterprises capable of meeting tailored service needs within specified lots. Firms with expertise in providing comprehensive policy solutions and strategic claims management services stand to benefit significantly from engaging in this procurement, thereby facilitating enhanced market penetration and client diversification.

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Notice Information

Notice Title

Corporate Insurance Services

Notice Description

We are seeking tender submissions for annual policies, which commence on 1st April 2026 in the name of: Reading Borough Council CIVIC OFFICES, BRIDGE STREET, READING, BERKSHIRE RG1 2LU Additional Insured Interests: Brighter Futures for Children - a wholly owned Children Services Company - cease trading brought back into RBC 31 March 2026. Whilst Homes for Reading are a wholly owned Company they are not included in the tender. The Long Term Agreement shall contain a break clause in the event of any significant changes to the Authority introduced by Central Government or other bodies that would make the continuance of the Long Term Agreement unsuitable for the Authority. In the event of an intended break in the Long Term Agreement the insurer must provide the Authority with 6 months' notice to enable the Authority to procure a suitable alternative. Please advise within your Tender Specification if this cannot be complied with. The Authority allows a successful Tender to transfer the insurance policies placed as a result of this Tender to another insurer during the term of the LTA provided that the new insurer is in the same ultimate as the original one, the insurer credit rating is not adversely affected and the terms and conditions of the insurance remain the same. Full details of the requirement can be found in the Specification document. The tender documents contain proposals for the works. Estimated contracted value is PS8.5M over 3 years.

Lot Information

Property

This Section incorporates the following classes of business: Property (General Properties) - Buildings & Content Housing Properties - Buildings & Contents LEA Education Properties - Buildings & Contents Business Interruption:- Increase in Cost of Working Rent Receivable Specified All Risks Works in Progress

Renewal: plus 2 years and plus 2 years (4 in total)

Commercial property

This Section incorporates the following classes of business: Industrial and Commercial Properties a. Buildings b. Loss of Rent

Renewal: plus 2 years and plus 2 years (4 in total)

Casualty

This Lot incorporates the following classes of business: Employers Liability Public and Products Liability Officials Indemnity Land Charges Libel and Slander Professional Indemnity Hirers Liability

Renewal: plus 2 years and plus 2 years (4 in total)

Motor Fleet

This Section incorporates the following classes of business: Motor Fleet School Minibuses Occasional Business Use Uninsured Loss Recovery Service (ULR)

Renewal: plus 2 years and plus 2 years (4 in total)

Engineering

This Section incorporates the following classes of business: Engineering Insurance Engineering Inspection

Renewal: plus 2 years and plus 2 years (4 in total)

Fidelity Guarantee / Crime

Employee Fraud Indemnity in respect of loss of money, securities and other property resulting directly from one of more fraudulent or dishonest acts committed by an employee, provided that such fraudulent or dishonest acts are committed Territorial Limits British Isles but including losses resulting from overseas visits Policy Interest Policies are to be prepared in the name of Reading Borough Council Subsidiary to be included Brighter Futures for Reading Ltd - In run-off as of 1st April 2026

Renewal: plus 2 years and plus 2 years (4 in total)

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-05d53d
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/015741-2026
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
Open procedure
Tender Suitability
Not specified
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
£6,800,000 £1M-£10M
Lots Value
£6,800,000 £1M-£10M
Awards Value
£6,680,000 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
20 Feb 20266 months ago
Submission Deadline
10 Dec 2025Expired
Future Notice Date
Not specified
Award Date
13 Feb 20266 months ago
Contract Period
1 Apr 2026 - 31 Mar 2029 3-4 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Reading Borough 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
READING
Postcode
RG1 2LU
Postcode Area
Reading
Country
England
Major Region (ITL 1)
TLJ South East (England)
Basic Region (ITL 2)
TLJ1 Berkshire, Buckinghamshire and Oxfordshire
Small Region (ITL 3)
TLJ16 Berkshire West
Delivery Location
TLJ11 Berkshire
Local Authority
Reading
Electoral Ward
Abbey
Westminster Constituency
Reading Central

Supplier Information

Number of Suppliers
2
Supplier Names

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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