Insurance Services - Public, Products, Errors & Omissions and Clinical Trials Liability
A Contract Award Notice
by CENTRE FOR PROCESS INNOVATION LIMITED
- Source
- Find a Tender
- Type
- Contract (Services)
- Duration
- not specified
- Value
- £507K
- Sector
- BUSINESS
- Published
- 23 Aug 2024
- Delivery
- not specified
- Deadline
- n/a
Concepts
Location
North East England:
1 buyer
1 supplier
- Newline Insurance London
Description
Renewal of Insurance policies via procured broker for CPI insurance policies for Public, Products, Errors & Omissions and Clinical Trials Liability.
Total Quantity or Scope
Procurement of Insurance Policies for Public, Products, Errors and Omissions and Clinical Trials Liability.
Award Detail
| 1 | Newline Insurance (London)
|
Award Criteria
| price | _ |
CPV Codes
- 66510000 - Insurance services
Legal Justification
Centre For Process Innovation Limited (CPI) is putting out this notice as a VEAT (Voluntary Ex ante Transparency Notice) as CPI intends to complete a Direct Award to Newline Insurance Company Limited for the provision of the classes of insurance identified below, without a call for competition in accordance with the Public Contracts Regulations 2015. The bulk of insurance services to be obtained under the Direct Award shall relate to Public & Products Liability & Errors & Omissions Liability and Clinical Trials Liability. The contract duration is expected to be 24 months from 1st December 24 and the value of the contracts will be £507,172.59. The justification for a Direct Award is the Life Sciences insurance market is protecting organisations against a unique range of risks, with differing exposures, the nature of the insurance requires extensive risk analysis of matters such as type of clinical trials being undertaken. Furthermore there is a limited marketplace of organisations that undertake the specialist & complex business activities that CPI undertake (CPI operates as technology and research innovation centre specialising in highly advanced medicine manufacture, formulations, therapeutic biologicals manufacture, and electronics & photonics systems) whereby it is considered the insurance market would not be able to adequately assess & provide quotations to CPI via a Public Contracts Regulation tender process. It is because of these complex challenges that CPI via their procured broker have approached a number of Insurers are proposing to continue working with their current insurance provider Newline Insurance Company Limited.
Other Information
** PREVIEW NOTICE, please check Find a Tender for full details. **
Reference
- ocds-h6vhtk-0493b5
- FTS 027117-2024