The Provision of Insurance Coverage and Associated Service (excluding broking services) in respect of Leasehold Right to Buy (RTB) Residential Buildings Insurance

Concepts

• insurance services
• provision of its property insurance
• residential buildings insurance
• provision of insurance coverage
• respect of private dwellings
• buy-back of properties
• result of the exercise of new rights
• respect of leasehold right
• contracting authority's insurance department
• course of an insurance year

Location

Description

The London Borough of Newham (Contracting Authority) invites bids for the provision of its property insurance in respect of private dwellings sold on a leasehold basis, the majority of which were under the Right To Buy (RTB) legislation. The dwellings are flats in blocks and flats in houses (maisonettes), where the Contracting Authority still retain the freehold ownership and the leases 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. The portfolio comprises approximately 6,000 properties with a total sum insured of £1b. Other flats in some blocks have not been sold (Council tenanted) and are separately insured so insurance cover for these flats is not required. The number of properties change in the course of an insurance year as a result of the exercise of new rights to buy and buy-back of properties mainly within the Contracting Authority's regeneration area. The Contracting Authority's Insurance Department administers the process, including issuance and/or replacement of bespoke insurance documents.

Renewal Options

This contract will be procured prior to contract expiry.

CPV Codes

• 66510000 - Insurance services

Indicators

• This is a recurring contract.
• Renewals are available.

Other Information

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