Award

Property Owners Liability Insurance

ORKNEY RESEARCH AND INNOVATION CAMPUS LLP

This public procurement record has 1 release in its history.

Award

15 Nov 2024 at 00:00

PCS Notice - Website Contract Award Notice
Summary of the contracting process

Orkney Research and Innovation Campus LLP has completed the procurement process for a Property Owners Liability Insurance contract. This open procedure contract will cover the period from 1 November 2024 to 31 October 2027, with an option to extend until 31 October 2029 (3+2 year Long-Term Agreement). The contract, valued at GBP 121,853, has been awarded to Allianz Insurance plc. The project is based in Stromness, UK, under the Property Ownership, Management and Development industry category. Key dates include the procurement method completion status marked as 'complete' and the contract signing on 14 October 2024.

This tender offers a significant opportunity for businesses involved in providing insurance services, particularly those specialising in liability coverage for property owners. Large-scale insurance companies, similar to Allianz Insurance plc, are well-positioned to compete for such contracts due to the extensive coverage and financial backing required. Additionally, companies with experience in managing complex insurance portfolios and those that can adapt to potential changes in property values, claims history, and insurance premium tax (IPT) adjustments would find this contract attractive for business growth. The competitive open procedure ensures transparency and encourages broad participation across the industry.

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Notice Information

Notice Title

Property Owners Liability Insurance

Notice Description

This is a call-off contract for Owners Liability insurance. The policy commences on 1 November 2024 and expires on 31 October 2027, with the option to extend by 2 years until 31 October 2029 (3+2 year Long-Term Agreement).

Lot Information

Lot 1

Property Owners Liability. Economic operators may be excluded from this competition if they are in any of the situations referred to in Regulation 58 of the Public Contracts (Scotland) Regulations 2015.

Options: Contract value changes due to IPT; change in property portfolio; claims history affects premiums; changes in property values

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-r6ebe6-0000783391
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=NOV518391
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
PCS Notice - Website Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large

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
£121,853 £100K-£500K

Notice Dates

Publication Date
15 Nov 20241 years ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
14 Oct 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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
ORKNEY RESEARCH AND INNOVATION CAMPUS LLP
Contact Name
Not specified
Contact Email
oric@orkneycampus.co.uk
Contact Phone
+44 7922426446

Buyer Location

Locality
STROMNESS
Postcode
KW16 3AN
Post Town
Kirkwall
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
TLM65 Orkney Islands
Local Authority
Orkney Islands
Electoral Ward
Stromness and South Isles
Westminster Constituency
Orkney and Shetland

Supplier Information

Number of Suppliers
1
Supplier Name

ALLIANZ INSURANCE

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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