Insurance Tender - Property Lot 1 Award 2024-2029

A Contract Award Notice
by THE ROYAL BOROUGH OF KENSINGTON AND CHELSEA

Source
Find a Tender
Type
Contract (Services)
Duration
5 year (est.)
Value
£3M
Sector
BUSINESS
Published
18 Apr 2024
Delivery
01 Apr 2024 to 31 Mar 2029 (est.)
Deadline
n/a

Concepts

Location

Hornton Street London

Geochart for 3 buyers and 1 suppliers

3 buyers

1 supplier

Description

The Royal Borough of Kensington & Chelsea (RBKC) has awarded an insurance tender - Property Lot 1Award 2024-2029 contracts to Protector Insurance (Company No: FC033034) for the delivery of Property insurance. The tender was carried out using the Open procedure using the Council’s capitalEsourcing portal. The Contract Notice was published on 19th of January 2024 and open for 30 days and closed on 19th of February 2024. The contract will be established for an initial duration of five-year arrangement, premiums are not fixed by the insurers as they will be subject to annual index linking to reflect the current inflation at that time. This ensures the Councils’ assets are adequately insured and not subject to under-insurance.

Total Quantity or Scope

The objectives of this tender is the contract award for sovereign insurance contract for Property that will commence on 1st of April 2024. The tender was carried out using the Open procedure using the Council’s capitalEsourcing portal. The Contract Award Criteria was based on the technical specification, which invited bidders to provide policy coverage and claims handling requirements. The Contract Notice was published on 19th of January 2024 and open for 30 days and closed on 19th of February 2024.

Award Detail

1 Protector Forsikring Asa (Manchester)
  • Num offers: 2
  • Value: £3,310,440

Award Criteria

Policy Coverage/Specification 20.0
Claims Provision/Service 15.0
Added Value 5.0
Social Value 10.0
Price 50.0
PRICE 100.0

CPV Codes

  • 66510000 - Insurance services

Indicators

  • Award on basis of price.

Reference

Domains