Award

Insurance Provision - Modification VEAT

KEY HOUSING ASSOCIATION

This public procurement record has 1 release in its history.

Award

16 Jan 2024 at 00:00

OJEU - F15 - Voluntary Ex Ante Transparency Notice
Summary of the contracting process

The Key Housing Association based in Glasgow, UK, has completed the procurement process for the Insurance Provision - Modification VEAT tender. This tender, falling under the services category, was awarded through a limited procurement method without prior publication of a call for competition. The tender aims to extend the existing Insurance Provision contract to address ongoing market uncertainties, economic impacts, and regulatory requirements, with the new contract expected to commence in Q3 2024/25.

This tender by the Key Housing Association presents business growth opportunities for insurance service providers seeking to compete in the social housing sector. Companies with experience in property and liability insurance, especially those adaptable to changing market conditions and regulatory environments, would be well-suited to participate in this upcoming procurement process. The extension of the existing contract and the forthcoming market engagement signify a chance for businesses to offer tailored insurance solutions to meet the evolving needs of the housing association sector in the UK.

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Notice Information

Notice Title

Insurance Provision - Modification VEAT

Notice Description

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 Key Housing Association (KHA) and it's subsidiary, Community Lifestyles (CL), 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

Key Housing Association (KHA) and its subsidiary, Community Lifestyles (CL), intend to extend the existing Insurance Provision contract due to end 31 May 2024 to 31 May 2025 with Zurich Insurance Company Ltd who are the current insurance service Provider.

Procurement Information

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 Key Housing Association (KHA) and its subsidiary, Community Lifestyles (CL), could not have foreseen". Key Housing Association (KHA) and its subsidiary, Community Lifestyles (CL) intend to extend the existing Insurance Provision contract due to end 31 May 2024 to the 31 May 2025 with Zurich Insurance Company 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 and CL intend to go out to the marketplace for a new contract for Insurance Provision and this procurement process will commence Q3 2024/25 with a target effective date contract date of 1 June 2025.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-r6ebe6-0000755297
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=JAN496494
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
OJEU - F15 - Voluntary Ex Ante Transparency 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
£309,745 £100K-£500K

Notice Dates

Publication Date
16 Jan 20242 years ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
15 Jan 20242 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
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
Post Town
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
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

  • https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=JAN496494
    Insurance Provision - Modification VEAT - 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 Key Housing Association (KHA) and it's subsidiary, Community Lifestyles (CL), 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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