Council Insurance Premiums

Concepts

• insurance services
• newport
• premiums
• council insurance premiums
• the premiums
• (2 years premiums
• insurance
• last year
• miscommunications
• the 2 year extension agreement

Location

Description

Council Insurance Premiums from 1 April 2023 until 31 March 2025 (2 year's premiums). The value paid for premiums in 2023/24 was £751723.08 and the value of the premiums for 2024/25 is £805712.47. The Authority has a long term agreement with the supplier that should have been in place until 31/03/2025 however due to miscommunications that contract did not include the 2 year extension agreement. This only came to light after the contract had ended last year so we were unable to modify it before it expired. The value paid for premiums in 2023/24 was £751723.08 and the value of the premiums for 2024/25 is £805712.47. It should be noted that premiums are paid via our Broker - Marsh Ltd. A VEAT was published (2024/S 000-018183) and the Authority observed a 10 day standstill period that ended at midnight on 24 June 2024.

Award Detail

CPV Codes

• 66510000 - Insurance services

Other Information

Any values given cover the period 01/04/2023 to 31/03/2025.