The Provision of Leasehold RTB Insurance

Concepts

• insurance services
• provision of its property insurance
• provision of leasehold rtb insurance
• buildings insurance
• provision of insurance coverage
• course of an insurance year
• contracting authority's insurance department
• insurance cover
• respect of leasehold right
• provision of insurance coverage and associated service

Location

Description

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

Total Quantity or Scope

The London Borough of Newham (Contracting Authority) procured 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.

Award Detail

Renewal Options

3 Years with an option to extend for a further 2 Years.

CPV Codes

• 66510000 - Insurance services

Indicators

• Options are available.

Legal Justification

The Authority published an Open tender (Publication Reference: 2022/S 000-032814), on 18 November 2022, which was scheduled to end 12:00 noon on 23 December 2022. During the Tender period 47 companies viewed the opportunity documentation and the Authority received and answered a couple of clarification questions. Although the tender was extended for a further two weeks, the Authority failed to receive any bids. The Authority therefore utilised the provisions of Section 32 of Public Contracts Regulations 2015 to negotiate and secure a quote from Protector Insurance. Accordingly the Authority will be urgently awarding the Contract to Protector insurance to take over from when the current insurance contract cover ends (31st March 2023). This VEAT notice is being issued in line with the Regulations.

Other Information

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