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Modification of Insurance and Related Services 2019 - 2024 to June 25

Key Housing Association

This public procurement record has 4 releases in its history.

AwardUpdate

21 Feb 2024 at 00:00

OJEU - F20 - Modification Notice
Award

18 Sep 2019 at 01:00

OJEU - F3 - Contract Award Notice
TenderUpdate

18 Apr 2019 at 01:00

OJEU - F14 - Corrigendum
Tender

28 Mar 2019 at 00:00

OJEU - F2 - Contract Notice
Summary of the contracting process

The Key Housing Association in Glasgow has awarded a contract for the Modification of Insurance and Related Services 2019 - 2024 to June 25. The tender was initiated under the open procedure method and is in the tender stage. The process involves extending an existing insurance provision contract due to the restricted insurance market for social housing providers, driven by market uncertainties post-Brexit and the war in Ukraine. Key Housing Association aims to ensure the continuity of insurance services in the face of challenging market conditions, with plans to start a new procurement process in 2024 Q3.

This tender for insurance and related services provides an opportunity for insurance brokers and direct providers to compete. Businesses in the insurance industry, particularly those experienced in property and liability insurance, would find this tender well-suited for growth opportunities. The Key Housing Association's procurement process seeks to address market challenges and regulatory requirements, offering a chance for providers to offer comprehensive insurance services to meet the association's needs and secure a contract lasting till June 2025.

How relevant is this notice?

Notice Information

Notice Title

Modification of Insurance and Related Services 2019 - 2024 to June 25

Notice Description

Non-life insurance services, including property insurance for owned properties; housing contents for supported housing tenancies; contracts works insurance; property insurance for office contents; computer equipment; business interruption; money; public liability; employers' liability; legal expenses; engineering inspection and insurance; fidelity guarantee; and motor fleet.

Lot Information

Lot 1

Key Housing Association (KHA) intends to extend the existing Insurance Provision contract due to end 1 June 24 to the 1 June 25 with Zurich Ltd who are the current insurance service Provider. This informed decision based on; the ongoing insurance marketplace uncertainty reflective of the post-Brexit economic environment, the far-reaching impact of the war in Ukraine, recent challenges faced by RSL's relating to all services, and the current cost-of-living pressures; while concurrently seeking to ensure effective continuity of our insurance services to meet our statutory regulatory requirements. The insurance market for social housing providers has always been quite restricted, however in the field of property and liability this has hardened severely and quickly since the start of 2023. This has been accelerated by the departure of two main insurance providers to the Sector over the last 6 months, meaning the already limited capacity is much reduced. This has resulted in unsustainable market conditions, and we have seen insurers react this year applying significant rate increases on Renewals during the first quarter of 2024. KHA intend to go out to the marketplace for a new contract for Insurance Provision and this procurement process will commence 2024 Q3 with a target effective date contract date of 1 June 2025.

Renewal: The contract will last for three years to 31 May 2022; with the possibility of a further two single year extensions through to 31 May 2024. The extension of the contract will be at the discretion of Key HA Senior Team.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-r6ebe6-0000578961
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=FEB499194
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
OJEU - F20 - Modification 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
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£1,650,975 £1M-£10M

Notice Dates

Publication Date
21 Feb 20242 years ago
Submission Deadline
29 Apr 2019Expired
Future Notice Date
Not specified
Award Date
1 Jun 20197 years ago
Contract Period
Not specified - Not specified
Recurrence
As outlined in the ITT

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Key Housing Association
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
GLASGOW
Postcode
G4 0HT
Postcode Area
Glasgow
Country
Scotland
Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM3 West Central Scotland
Small Region (ITL 3)
TLM32 Glasgow City
Delivery Location
TLM Scotland, TLM82 Glasgow City
Local Authority
Glasgow City
Electoral Ward
Anderston/City/Yorkhill
Westminster Constituency
Glasgow North

Supplier Information

Number of Suppliers
1
Supplier Name

Zurich Municipal

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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