--- title: "Closed Insurance Estates Preliminary Market Engagement" ocid: "ocds-h6vhtk-0511ad" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-0511ad" markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-0511ad.md" json_url: "https://d3tenders.com/contract/ocds-h6vhtk-0511ad.json" source: "Find A Tender Service" current_stage: "Planning" buyer: "FINANCIAL SERVICES COMPENSATION SCHEME" published: "2025-05-13" --- # Closed Insurance Estates Preliminary Market Engagement Buyer: FINANCIAL SERVICES COMPENSATION SCHEME Current stage: Planning OCID: ocds-h6vhtk-0511ad [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-0511ad) [Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-0511ad.json) ## Summary The Financial Services Compensation Scheme (FSCS), located at Beaufort House in London, is currently in the planning stage of a procurement process titled "Closed Insurance Estates Preliminary Market Engagement." This initiative is categorised under the financial and insurance services industry and targets general insurance run-off management, particularly for claims involving long-tail liabilities such as industrial diseases. This planning phase includes a request for information, inviting suppliers to participate in a preliminary market engagement exercise, with responses due by 9th June 2025 via the Delta e-sourcing portal. The procurement process anticipates involving multiple contract opportunities, with an estimated gross value of £10 million and a potential contract period extending from April 2027 until March 2035. This procurement process presents significant opportunities for firms involved in claims management and insurance services, particularly those with expertise in managing complex and long-term insurance claims. Businesses specialising in financial and insurance services, especially those adept at handling industrial disease claims and structurally complex liabilities, are well-suited to engage in this tender. This opportunity not only aids in revenue growth but also enhances industry reputation by aligning with a high-profile national statutory fund's needs. Participation in this market engagement could position these firms for future contracting opportunities as FSCS continues to manage claims for its closed insurance estates. ## Notice FSCS is the United Kingdom's statutory fund of last resort for customers of financial services firms and this market sounding is specific to general insurance, FSCS may pay compensation where it is satisfied that an eligible claimant has a protected indemnity claim against an authorised insurer who is in default. In the event of an insurer failure, primary responsibility for claims handling rests with the court appointed Insolvency Practitioner. Often the period required to resolve the failed insurer's insurance liabilities extends beyond the conclusion of any insolvency proceedings, at which point the Insolvency Practitioner is no longer appointed. This is particularly the case with 'long-tail' liabilities. In these circumstances, FSCS takes on responsibility for managing the claims run-off. Long-tail liabilities commonly reference chronic industrial diseases and illnesses (e.g., noise induced hearing loss, asbestosis, and mesothelioma) caused by an employee's exposure to a hazardous working environment. Industrial disease and illness claims are technically complex to manage and present significant service, reputational and financial risks for FSCS should errors occur in the claims handling process. FSCS currently manages claims for a number of closed insurance estates. Due to the presence of asbestos related claims these insurance estates are expected to continue in run-off for the next c.20 years (based on data published by the Institute and Faculty of Actuaries, UK Asbestos Working Party update, September 2019). There is also the potential for FSCS to directly manage the run-off of other claims types including complex structural building defect claims and 3rd party motor injury claims. For more information about this opportunity, please visit the Delta eSourcing portal at: https://www.delta-esourcing.com/tenders/UK-title/VYBUYWV847 To respond to this opportunity, please click here: https://www.delta-esourcing.com/respond/VYBUYWV847 ### Planning Information This is a Request For Information - This notice is intended to alert potential suppliers of the opportunity to take part in the preliminary market engagement exercise only. Interested parties are invited to respond to the questionnaire linked to this notice. The questionnaire must be responded to via the Delta e-sourcing portal. All indicative contract dates and values are purely an initial estimate at this stage and further information would be provided at any future tender stage. ## Key Details | Field | Value | | --- | --- | | Publication source | Find A Tender Service | | Latest notice | https://www.find-tender.service.gov.uk/Notice/020724-2025 | | Notice type | UK2 - Preliminary Market Engagement Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Not Specified | | Procurement method details | Not specified | | Tender suitability | Not specified | | Awardee scale | Not specified | | All stages | Planning | ## Dates | Field | Value | | --- | --- | | Publication date | 13 May 2025 | | Submission deadline | Not specified | | Future notice date | 9 Jun 2025 | | Award date | Not specified | | Contract period | 1 Apr 2027 - 31 Mar 2032 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £10,000,000 | | Lots value | Not specified | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Planning | | Lots status | Planning | | Awards status | Not specified | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | FINANCIAL SERVICES COMPENSATION SCHEME | | Locality | LONDON | | Post town | Central London | | Postcode | EC3A 7QU | | Country | England | | ITL 1 | TLI London | | ITL 2 | TLI3 Inner London - West | | ITL 3 | TLI35 Westminster and City of London | | Local authority | City of London | | Electoral ward | Portsoken | | Westminster constituency | Cities of London and Westminster | | Delivery location | Not specified | ## CPV Codes ### Divisions - 66 - Financial and insurance services ### Codes - 66000000 - Financial and insurance services - 66500000 - Insurance and pension services - 66510000 - Insurance services - 66512000 - Accident and health insurance services - 66512100 - Accident insurance services - 66512200 - Health insurance services ## Release History - 13 May 2025 at 09:05 - Planning - UK2 - Preliminary Market Engagement Notice - https://www.find-tender.service.gov.uk/Notice/020724-2025 ## Documents - https://www.find-tender.service.gov.uk/Notice/020724-2025 13th May 2025 - Preliminary market engagement notice on Find a Tender ## Notice URLs - https://www.delta-esourcing.com/respond/VYBUYWV847 - https://www.delta-esourcing.com/tenders/UK-title/VYBUYWV847 - https://www.legislation.gov.uk/ukpga/2023/54/contents ## 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-0511ad. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-0511ad.json.