Award

Marine Liability Insurance

HIGHLANDS AND ISLANDS ENTERPRISE

This public procurement record has 1 release in its history.

Summary of the contracting process

The Highlands and Islands Enterprise has awarded a contract for Marine Liability Insurance to the International General Insurance Company (UK) Limited. The procurement process was conducted via a limited award procedure without prior publication of a call for competition. The contract covers the period from 1 April 2024 to 31 October 2025 and has a total value of £55,345.51 GBP. The decision to extend the contract was made to align insurance renewals to a new, 1 November date, advised by the broker for market attractiveness.

This tender for Marine Liability Insurance creates opportunities for businesses in the services sector, particularly insurance providers specialising in marine insurance. Given the contract's specific nature and the focus on a limited award procedure, businesses with strong expertise in marine liability insurance and a track record of service excellence would be well-suited to compete. The public procurement process took place in Inverness, UK, and could be an opportunity for businesses looking to expand their services in the marine insurance sector in the region.

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Notice Title

Marine Liability Insurance

Notice Description

The contract is for the provision of marine liability insurance, covering the period from 1 April 2024 to 31 October 2025. This is considered a 19-month extension of the current insurance. The reason for the extension is to enable HIE to re-align all of our main insurances to a new, 1 November renewal date. The total value stated in this contract award notice is the total of the extension and the 2023/24 insurance premium, including IPT. We are publishing this contract award notice to be transparent about the aggregated value.

Lot Information

Lot 1

The contract is for the provision of marine liability insurance, covering the period from 1 April 2024 to 31 October 2025.

Options: changes related to the insured assets result in higher premium

Procurement Information

Following the advice of our broker, this notice relates to an extension of an existing contract, the value reflects the original contract and the extension value. The extension is being actioned to enable us to align our insurance programme to a 1 November renewal date, as the broker advises this may be more attractive to the marketplace. Our future renewals we will be procured via our broker.

Publication & Lifecycle

Open Contracting ID
ocds-r6ebe6-0000761370
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=APR503847
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
PCS Notice - Website 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
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66510000 - Insurance services

66516000 - Liability insurance services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£55,345 Under £100K

Notice Dates

Publication Date
25 Apr 20241 years ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
11 Mar 20241 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
HIGHLANDS AND ISLANDS ENTERPRISE
Contact Name
Not specified
Contact Email
hieprocurement@hient.co.uk
Contact Phone
+44 1463245245

Buyer Location

Locality
INVERNESS
Postcode
IV2 5NA
Post Town
Inverness
Country
Scotland

Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM2 Highlands and Islands
Small Region (ITL 3)
TLM20 Highlands and Islands
Delivery Location
TLM64 Na h-Eileanan Siar

Local Authority
Highland
Electoral Ward
Inverness South
Westminster Constituency
Inverness, Skye and West Ross-shire

Supplier Information

Number of Suppliers
1
Supplier Name

INTERNATIONAL GENERAL INSURANCE COMPANY (UK

Further Information

Notice Documents

  • https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=APR503847
    Marine Liability Insurance - The contract is for the provision of marine liability insurance, covering the period from 1 April 2024 to 31 October 2025. This is considered a 19-month extension of the current insurance. The reason for the extension is to enable HIE to re-align all of our main insurances to a new, 1 November renewal date. The total value stated in this contract award notice is the total of the extension and the 2023/24 insurance premium, including IPT. We are publishing this contract award notice to be transparent about the aggregated value.

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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