---
title: "Council Insurance Premiums"
ocid: "ocds-b5fd17-939dc65e-c54a-4cfb-ad13-447c072e2272"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-939dc65e-c54a-4cfb-ad13-447c072e2272"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-939dc65e-c54a-4cfb-ad13-447c072e2272.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-939dc65e-c54a-4cfb-ad13-447c072e2272.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "ISLE OF WIGHT COUNCIL"
published: "2024-06-25"
---

# Council Insurance Premiums

Buyer: ISLE OF WIGHT COUNCIL  
Current stage: Award  
OCID: ocds-b5fd17-939dc65e-c54a-4cfb-ad13-447c072e2272

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## Summary

The Isle of Wight Council has awarded a contract for Council Insurance Premiums. The procurement stage was an Award of contract without prior publication of a contract notice. The contract period is from 1 April 2024 to 31 March 2025, with a total value of £1,458,825. The procurement method was limited, and the tender period ended on 30 March 2024. The location is specified as the South East region in the United Kingdom, and the industry category is insurance services.

This tender for Council Insurance Premiums provides business growth opportunities for insurance service providers. Businesses in the insurance industry, particularly companies with experience in providing premium services, are well-suited to compete for this contract. The contract duration of two years offers stability and potential for revenue growth for successful bidders.

## Notice

Council Insurance Premiums from 1 April 2023 until 31 March 2025 (2 year's premiums). The value paid for premiums in 2023/24 was PS751723.08 and the value of the premiums for 2024/25 is PS805712.47. The Authority has a long term agreement with the supplier that should have been in place until 31/03/2025 however due to miscommunications that contract did not include the 2 year extension agreement. This only came to light after the contract had ended last year so we were unable to modify it before it expired. The value paid for premiums in 2023/24 was PS751723.08 and the value of the premiums for 2024/25 is PS805712.47. It should be noted that premiums are paid via our Broker - Marsh Ltd. A VEAT was published (2024/S 000-018183) and the Authority observed a 10 day standstill period that ended at midnight on 24 June 2024. Additional information: Any values given cover the period 01/04/2023 to 31/03/2025.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/0ee5d48c-497e-4118-8b5c-6e400cc09ec8 |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Limited |
| Procurement method details | Award of contract without prior publication of a contract notice |
| Tender suitability | Not specified |
| Awardee scale | Large |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 25 Jun 2024 |
| Submission deadline | 30 Mar 2024 |
| Future notice date | Not specified |
| Award date | 31 Mar 2024 |
| Contract period | 31 Mar 2024 - 31 Mar 2025 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £1,458,825 |
| Lots value | Not specified |
| Awards value | £1,458,825 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Not specified |
| Awards status | Active |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | ISLE OF WIGHT COUNCIL |
| Locality | NEWPORT |
| Post town | Portsmouth |
| Postcode | PO30 1UD |
| Country | England |
| ITL 1 | TLJ South East (England) |
| ITL 2 | TLJ3 Hampshire and Isle of Wight |
| ITL 3 | TLJ34 Isle of Wight |
| Local authority | Isle of Wight |
| Electoral ward | Newport Central |
| Westminster constituency | Isle of Wight West |
| Delivery location | TLJ South East (England) |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 4 |
| Supplier names | ALLIANZ; NAVIGATORS AND GENERAL; QBE; TRAVELERS |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66510000 - Insurance services

## Release History

- 25 Jun 2024 at 10:18 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/0ee5d48c-497e-4118-8b5c-6e400cc09ec8

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/0ee5d48c-497e-4118-8b5c-6e400cc09ec8
  25th June 2024 - Awarded contract notice on Contracts Finder

## Notice URLs

- http://www.iow.gov.uk

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-939dc65e-c54a-4cfb-ad13-447c072e2272. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-939dc65e-c54a-4cfb-ad13-447c072e2272.json.