Notice Information
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.
Notice Details
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
Buyer & Supplier
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
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)
View full OCDS Record for this contracting process
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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