Tender

Ask AI about this notice

Summarise, research or assess it with AI

View Markdown

Share this notice

Send this contract to a colleague

Insurance Procurement

LOCAL SPACE

This public procurement record has 1 release in its history.

Tender

16 Oct 2026 at 09:01

UK4 - Tender Notice
Summary of the contracting process

Local Space is seeking corporate insurance and associated services for its property portfolio across England. The requirement is divided into property stock insurance and combined liability insurance. Property cover includes damage and related business interruption risks, and may include property owners’ liability. The liability lot covers employers’, public and products liability, with pollution and other associated liability risks where specified. Both lots also require claims handling, reporting, risk management and related insurance services. Suppliers may bid for either or both lots, which will be assessed and awarded separately. Local Space may award them to the same provider or to different providers. This is a financial and insurance services procurement (CPV 66000000).

Local Space invited tenders through an open procedure. The tender submission deadline was 13 November 2026 at 17:00 UTC; the stated end of the award period was 18 December 2026. Both contracts are due to start on 9 February 2027 for an initial three-year term, with up to two additional one-year extensions at Local Space’s discretion. The estimated value is £540,000 for property stock insurance and £160,000 for combined liability insurance. Each lot is evaluated separately, with price weighted at 60% and quality at 40%. Quality considers cover provided, service delivery, claims handling and social value; within the quality score these carry weights of 50%, 25%, 15% and 10% respectively. Alternative insurance quotations are allowed around cover, limits, excesses and related terms.

The opportunity suits insurers and insurance service providers able to offer corporate property and liability cover across a broad English property portfolio. Bidders should be able to meet the specified technical cover requirements and clearly explain any qualifications, exclusions, conditions, restrictions or variations. Relevant strengths include managing property damage and business interruption risks, and, for the liability lot, employers’, public and products liability and any specified pollution risks. Strong claims handling, claims reporting, risk management and dependable service delivery are central to both lots. The evaluation also rewards social value, alongside price and the quality of insurance cover. Small and medium-sized businesses are identified as suitable bidders. Suppliers can focus on either insurance specialism or compete for both lots; each lot is judged independently.

How relevant is this notice?

Notice Information

Notice Title

Insurance Procurement

Notice Description

Local Space Limited is seeking Tenders for the provision of corporate insurance cover and associated insurance services. The procurement comprises the following Lots: Lot 1: Property Stock Insurance Lot 2: Combined Liability Insurance, comprising employers' liability, public liability, products liability and associated liability risks as specified in the associated tender documents. Tenderers may tender for one or both Lots. Each Lot will be evaluated and awarded separately. Local Space Limited reserves the right to award the Lots to the same or different Tenderers in accordance with the published award criteria. The Contract will have an initial term of three years, commencing on 9 February 2027, with the option for Local Space Limited to extend the Contract by up to two further periods of one year each. The maximum potential Contract term is therefore five years. The requirements, scope of cover, limits, excesses, service standards, claims handling requirements, Conditions of Participation, pricing requirements and award criteria are set out in the associated tender documents.

Lot Information

Property Stock Insurance

Local Space Property Stock Insurance Provision of property insurance and associated services for Local Space Limited's property portfolio. The requirement includes property damage and related business interruption risks and may include property owners' liability, together with the associated claims handling, risk management, reporting and service requirements specified in the associated tender documents. Tenderers must provide cover in accordance with the Technical Specification and clearly identify any qualifications, exclusions, conditions, restrictions or variations from the specified requirements.

Options: Insurance quotation options: the tender documentation also allows alternative/variant insurance quotations around cover, limits, excesses and related terms.

Renewal: Local Space Limited may extend the Contract following the initial three-year term by up to two further periods of one year each. Any extension will be at the discretion of Local Space Limited and subject to satisfactory performance, continued requirement, available budget, value for money and the terms and conditions of the Contract.

Combined Liability Insurance

Provision of combined liability insurance and associated services for Local Space Limited. The requirement includes: employers' liability insurance; public liability insurance; products liability insurance; pollution liability and associated liability risks where specified; claims handling; claims reporting; risk management; and the related service requirements set out in the associated tender documents. Tenderers must provide cover in accordance with the Technical Specification and clearly identify any qualifications, exclusions, conditions, restrictions or variations from the specified requirements.

Options: Insurance quotation options: the tender documentation also allows alternative/variant insurance quotations around cover, limits, excesses and related terms.

Renewal: Local Space Limited may extend the Contract following the initial three-year term by up to two further periods of one year each. Any extension will be at the discretion of Local Space Limited and subject to satisfactory performance, continued requirement, available budget, value for money and the terms and conditions of the Contract.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-078908
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/097711-2026
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
UK4 - Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

Notice Value(s)

Tender Value
£700,000 £500K-£1M
Lots Value
£700,000 £500K-£1M
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
16 Oct 20261 weeks ago
Submission Deadline
13 Nov 20263 weeks to go
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
9 Feb 2027 - 8 Feb 2030 3-4 years
Recurrence
2031-10-01

Notice Status

Tender Status
Active
Lots Status
Active
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
LOCAL SPACE
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
E15 4BZ
Postcode Area
East London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI41 Hackney and Newham
Delivery Location
TLC North East (England), TLD North West (England), TLE Yorkshire and The Humber, TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLI London, TLJ South East (England), TLK South West (England)
Local Authority
Newham
Electoral Ward
Stratford
Westminster Constituency
Stratford and Bow

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

JSON Markdown

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.

Loading OCDS record...