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Property Insurance - Right to Buy

North Lanarkshire Council

This public procurement record has 3 releases in its history.

Award

23 May 2017 at 01:00

OJEU - F3 - Contract Award Notice
TenderUpdate

11 Jan 2017 at 00:00

OJEU - F14 - Corrigendum
Tender

15 Dec 2016 at 00:00

OJEU - F2 - Contract Notice
Summary of the contracting process

North Lanarkshire Council is currently completing the procurement process for the "Property Insurance - Right to Buy" contract, aimed at renewing an existing block insurance policy covering approximately 2,700 Right to Buy policyholders in North Lanarkshire. This open procedure tender is classified under the services category and has a total contract value of £2,600,000 GBP. Critical dates include the formal contract signing on 16 March 2017 and the conclusion of the tender process on 18 January 2017.

This contract presents significant growth opportunities for insurance providers, particularly those specialising in property insurance for governmental or community housing schemes. Businesses with licensing from the UK Financial Conduct Authority and expertise in delivering tailored insurance policies will be well-positioned to compete. The successful bidders must also demonstrate capacity in providing management support to policyholders and maintaining flexible premium payment options, enhancing their service offerings in this competitive segment.

How relevant is this notice?

Notice Information

Notice Title

Property Insurance - Right to Buy

Notice Description

The Council is seeking renewal of the existing contract for the provision of a block insurance policy which provides buildings insurance cover for approximately 2,700 Right to Buy policyholders who own ex-council houses. Policy holders can pay their premiums monthly or annually which ever suits them. Premiums depend on sum insured which is determined by the policyholder with no impact from any previous claims history they may have had. The premiums have different levels of cover: Standard Cover and Accidental damage cover with the policy holder free to determine the sum insured and type of insurance they require.

Lot Information

Lot 1

The Council is seeking renewal of their existing contract for the provision of a block insurance policy providing cover for Ex-Council house owners (approximately 2,700 Right to Buy Policyholders. You must supply a copy of your proposed policy wording. Tenderers must be licensed to transact business in the UK and are authorised by the UK Financial Conduct Authority. The Council requires the successful bidders to provide all information relating to annual renewals by the 31st March each year. This is to enable renewal notices, schedules, etc, to be amended if required, before renewal packs are issued to policyholders at the start of the last full week in April. It is critical that this timescale is adhered to. The requirement of the Tender is to provide a block buildings insurance policy. Both "Standard Cover" and "Extended Accidental Damage Cover" is required. Applicants/ Policyholders must be allowed the option to select whether or not they wish to take Accidental Damage cover. Insurance Cover is to be arranged in blocks of GBP1,000 sum insured. Cover Specification includes: Property Damage; Property Owners Liability The Council requires Bidders to provide the benefit of a 24 hour telephone help-line for all policyholders Policyholders should be allowed to cancel their insurance by the provision of seven (7) days notice in writing to the Council's Risk & Insurance team. Once fixed, insurance premiums will only be altered within the fixed period of the Contract as follows: (a) on request from a policyholder to alter the type of cover purchased, or the sum insured (b) any alteration in the rate of Insurance Premium Tax or introduction of any new form of taxation; The successful bidder will be required to provide management information to the Council Bidders will be expected to provide marketing materials suitable for issue to prospective policyholders including electronic versions.. Service Providers must meet Council's minimum requirements stated in this Contract Notice and achieve a minimum score of 60% against the Selection Criteria, else their proposal will be rejected. Economic operators may be excluded from this competition if they are in any of the situations referred to in regulation 58 of the Public Contracts (Scotland) Regulations 2015.

Renewal: Contract allows for optional 12 month extension

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-r6ebe6-0000475089
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=MAY283975
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
OJEU - F3 - Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66515200 - Property insurance services

Notice Value(s)

Tender Value
£2,600,000 £1M-£10M
Lots Value
£2,600,000 £1M-£10M
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
23 May 20179 years ago
Submission Deadline
18 Jan 2017Expired
Future Notice Date
Not specified
Award Date
16 Mar 20179 years ago
Contract Period
Not specified - Not specified
Recurrence
Approximately 2 years after contract award or 3 years if extended.

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
North Lanarkshire 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
MOTHERWELL
Postcode
ML1 1AB
Postcode Area
Motherwell
Country
Scotland
Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM3 West Central Scotland
Small Region (ITL 3)
TLM34 North Lanarkshire
Delivery Location
UKM36 North Lanarkshire
Local Authority
North Lanarkshire
Electoral Ward
Motherwell South East and Ravenscraig
Westminster Constituency
Motherwell, Wishaw and Carluke

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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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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