--- title: "Provision of Insurance Services in respect of Leasehold Properties and Equity Share / Mortgaged Properties (excluding the provision of insurance broking services) 2021" ocid: "ocds-h6vhtk-02eeb5" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-02eeb5" markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-02eeb5.md" json_url: "https://d3tenders.com/contract/ocds-h6vhtk-02eeb5.json" source: "Find A Tender Service" current_stage: "Tender" buyer: "READING BOROUGH COUNCIL" published: "2021-11-25" --- # Provision of Insurance Services in respect of Leasehold Properties and Equity Share / Mortgaged Properties (excluding the provision of insurance broking services) 2021 Buyer: READING BOROUGH COUNCIL Current stage: Tender OCID: ocds-h6vhtk-02eeb5 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-02eeb5) [Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-02eeb5.json) ## Summary The Reading Borough Council is currently conducting an open tender for the provision of insurance services related to leasehold properties and equity share/mortgaged properties, with a total estimated value of £185,000. The procurement process, facilitated by Marsh, the Council's retained insurance broker, aims to secure Damage to Buildings, Loss of Rent, and Property Owners Liability insurance coverage, with coverage expected to commence on 1st April 2022. Suppliers interested in participating must express their interest by 9th December 2021, as the submission method is written and bids will be opened on 10th December 2021 at the Council's offices in Reading, UK. The initiative provides a significant opportunity in the property insurance services industry, falling under the CPV classification 66515200. This tender presents a valuable opportunity for insurance firms, particularly those specialised in property insurance, to engage with the local authority and contribute to a crucial service that protects both the Council's and Leaseholders' interests. Businesses that hold FCA registration and have experience in managing property insurance contracts would be well suited to compete in this process. By participating, these firms can not only secure a contract that potentially includes renewal provisions but also build a long-term relationship with Reading Borough Council, thereby enhancing their market presence in local public procurement. ## Notice Reading Borough Council are completing an Invitation to Tender exercise (managed by Marsh., the Contracting Authority's retained Insurance Broker and Risk Advisor) for the provision of Right to Buy and Leasehold Properties Insurance. The Council is procuring Damage to Buildings, Loss of Rent and Property Owners Liability insurance cover to protect the Council's and Leaseholders' interest in the properties owned by the Council.Suppliers that would like to take part in this process are invited to Express Interest upon which they will be given access to the full documentation delivered through this portal. Documents can be accessed from the My Tenders area of this website by selecting the View Details button for the project.Expressions of interest will only be accepted until 20th November 2021.Any questions relating to this opportunity should be made via the correspondence link on this portal. ### Lot Information Lot 1 The Contracting Authority invites bids for the provision of its property insurance in respect of private dwellings sold on a leasehold basis, the majority of these were under the Right To Buy (RTB) legislation. The current Long Term Agreement expires on 31st March 2022. The dwellings are flats in blocks and flats in houses (maisonettes) where the Contracting Authority still retain the freehold ownership and in some case the leases may state that the Contracting Authority, as the Freeholder, will arrange the buildings insurance on behalf of the Leaseholder and recharge the premium as part of the Service Charge. Other flats in some blocks have not been sold (RBC tenanted) and are separately insured so insurance cover for these flats are not required. In addition, there are 4 Shared Ownership Houses (5 Dee Road, 8 Dover Street, 57 Field Road, 12 Norwich Drive) which have different leases. There are 9 Shared Ownership Houses (in Field Rd & Garnet Hill). These are identified on the schedule. 17 detached garages that are leased to RTB leaseholders are included in the schedule. There are no freehold properties.The Insurer must be registered with the Financial Conduct Authority (FCA) regulates how these firms behave, as well as more broadly the integrity of the UK's financial marketsCover is expected to commence at 00.01am on the 1st April 2022 in the name of: Reading Borough Council (including Leaseholders and Mortgagors for their respective interests) Renewal: 1 renewal available in the form of an extension for 24 months beyond the initial 60 month term. ## Key Details | Field | Value | | --- | --- | | Publication source | Find A Tender Service | | Latest notice | https://www.find-tender.service.gov.uk/Notice/026440-2021 | | Notice type | Tender Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Open | | Procurement method details | Open procedure | | Tender suitability | Not specified | | Awardee scale | Not specified | | All stages | Tender | ## Dates | Field | Value | | --- | --- | | Publication date | 25 Nov 2021 | | Submission deadline | 20 Nov 2021 | | Future notice date | Not specified | | Award date | Not specified | | Contract period | Not specified | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £185,000 | | Lots value | Not specified | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Active | | Lots status | Active | | Awards status | Not specified | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | READING BOROUGH COUNCIL | | Locality | READING | | Post town | Reading | | Postcode | RG1 2LU | | Country | England | | ITL 1 | TLJ South East (England) | | ITL 2 | TLJ1 Berkshire, Buckinghamshire and Oxfordshire | | ITL 3 | TLJ16 Berkshire West | | Local authority | Reading | | Electoral ward | Abbey | | Westminster constituency | Reading Central | | Delivery location | TLJ11 Berkshire | ## CPV Codes ### Divisions - 66 - Financial and insurance services ### Codes - 66515200 - Property insurance services ## Release History - 25 Nov 2021 at 11:41 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/026440-2021 - 25 Nov 2021 at 11:41 - TenderUpdate - Tender Notice - https://www.find-tender.service.gov.uk/Notice/029330-2021 ## Notice URLs - http://www.reading.gov.uk - https://courttribunalfinder.service.gov.uk/courts/rolls-building - https://in-tendhost.co.uk/reading/aspx/Tenders/Current - https://in-tendhost.co.uk/readingbc - https://www.gov.uk/government/organisations/cabinet-office ## 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-h6vhtk-02eeb5. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-02eeb5.json.