Award

Insurance Provision - Modification

PROSPECT COMMUNITY HOUSING LTD

This public procurement record has 2 releases in its history.

Summary of the contracting process

The procurement process involves Prospect Community Housing Ltd in Edinburgh, UK, for Insurance Provision - Modification in the housing and community amenities industry category. The tender was initiated as a limited procurement method with an award procedure without prior publication of a call for competition. The process has reached the award stage, with Marsh Ltd being the supplier. The contract worth £204,000 was signed on 27th September 2023, with a planned extension from 30th September 2024 to 30th September 2026.

This tender presents an opportunity for insurance service providers interested in the housing and community amenities sector to engage with Prospect Community Housing Ltd. Businesses with expertise in insurance and risk management services, particularly in challenging market conditions, will be well-suited to compete. While the current contract extension is awarded, there is an upcoming procurement process expected to start in the first quarter of 2026, aiming for an effective contract date of 1st October 2026, offering future business opportunities for interested parties.

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Notice Title

Insurance Provision - Modification

Notice Description

This Voluntary Ex-Ante Transparency (VEAT) notice relates to the extension of the existing Insurance Provision contract. Having sought advice, to meet our statutory regulatory requirements as a Registered Social Landlord, these public contracts shall be modified and awarded under Regulation 72 (1) (c) utilising the Modification of contracts during their term "by circumstances Prospect Community Housing (PCH) could not have foreseen". Justification of this intention together with full details of the intended contract are included within sections II.2.4 and IV.1.1 of this notice.

Lot Information

Lot 1

Prospect Community Housing (PCH) intends to extend the existing Insurance Provision contract due to end 30 September 2024 to the 30 September 2026 with Marsh Ltd who are the current insurance service Broker/provider.

Procurement Information

Award of a contract without prior publication of a call for competition Justification for selected award procedure: The procurement falls outside the scope of application of the Directive Explanation: This Voluntary Ex-Ante Transparency (VEAT) relates to the extension of the existing Insurance Provision contract. Having sought advice, to meet our statutory regulatory requirements as a Registered Social Landlord, these public contracts shall be modified and awarded under Regulation 72 (1) (c) utilising the Modification of contracts during their term "by circumstances Prospect Community Housing (PCH) could not have foreseen". Prospect Community Housing (PCH) intends to extend the existing Insurance Provision contract due to end 30 September 2024 to the 30 September 2026 with Marsh Ltd who are the current insurance service Broker/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 recently, 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 2023. PCH intend to go out to the marketplace for a new contract for Insurance Provision and this procurement process will commence 2026 quarter 1 with a target effective date contract date of 1st October 2026.

Publication & Lifecycle

Open Contracting ID
ocds-r6ebe6-0000746466
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=MAY505455
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
OJEU - F3 - Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Limited
Procurement Method Details
Award procedure without prior publication of a call for competition
Tender Suitability
Not specified
Awardee Scale
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
£204,000 £100K-£500K

Notice Dates

Publication Date
16 May 20241 years ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
27 Sep 20232 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
PROSPECT COMMUNITY HOUSING LTD
Contact Name
Not specified
Contact Email
brendan.fowler@prospectch.org.uk
Contact Phone
+44 1314585480

Buyer Location

Locality
EDINBURGH
Postcode
EH14 2TH
Post Town
Edinburgh
Country
Scotland

Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM1 East Central Scotland
Small Region (ITL 3)
TLM13 City of Edinburgh
Delivery Location
TLM75 City of Edinburgh

Local Authority
City of Edinburgh
Electoral Ward
Pentland Hills
Westminster Constituency
Edinburgh South West

Supplier Information

Number of Suppliers
1
Supplier Name

MARSH

Further Information

Notice Documents

  • https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=OCT489753
    Insurance Provision - Modification - This Voluntary Ex-Ante Transparency (VEAT) notice relates to the extension of the existing Insurance Provision contract. Having sought advice, to meet our statutory regulatory requirements as a Registered Social Landlord, these public contracts shall be modified and awarded under Regulation 72 (1) (c) utilising the Modification of contracts during their term "by circumstances Prospect Community Housing (PCH) could not have foreseen". Justification of this intention together with full details of the intended contract are included within sections II.2.4 and IV.1.1 of this notice.
  • https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=MAY505455
    Insurance Provision - Modification - This Voluntary Ex-Ante Transparency (VEAT) notice relates to the extension of the existing Insurance Provision contract. Having sought advice, to meet our statutory regulatory requirements as a Registered Social Landlord, these public contracts shall be modified and awarded under Regulation 72 (1) (c) utilising the Modification of contracts during their term "by circumstances Prospect Community Housing (PCH) could not have foreseen". Justification of this intention together with full details of the intended contract are included within sections II.2.4 and IV.1.1 of this notice.

Open Contracting Data Standard (OCDS)

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