Financial Lines Insurance Services

A Tender Notice
by LONDON UNIVERSITIES PURCHASING CONSORTIUM

Source
Find a Tender
Type
Contract (Services)
Duration
3 year
Value
£29M
Sector
BUSINESS
Published
11 Apr 2025
Delivery
01 Aug 2025 to 31 Jul 2028
Deadline
22 May 2025 13:00

Concepts

Location

United Kingdom:

Geochart for 1 buyers and 0 suppliers

1 buyer

Description

London Universities Purchasing Consortium (LUPC) is undertaking this tendering process for Financial Lines Insurance Services commencing 1 August 2025 across three lots made up of Management Liability, Crime and Professional Indemnity. Offers are invited on behalf of one of more lots. The Agreement is being tendered on behalf of the LUPC Insurance Group, a collaborative group of 27 participating institutions from the following purchasing organisations - London Universities Purchasing Consortium: http://www.lupc.ac.uk/list-of-members.html; Southern Universities Purchasing Consortium: http://www.supc.ac.uk/engage/our-members/our-members; and is also available to members of North East Universities Purchasing Consortium (NEUPC): http://www.neupc.ac.uk/our-members; and North West Universities Purchasing Consortium (NWUPC): http://www.nwupc.ac.uk/our-members. It should be noted that (1) LUPC is not seeking any broker services through this procurement; (2) stated inc. VAT values are inc. IPT (Insurance Premium Tax) and that (3) preliminary market engagement was undertaken in late January 2025, prior to commencement of the Procurement Act 2023.

Lot Division

1 Management Liability
  • Value: £2M

To meet or exceed the Insurance Group's Management Liability cover requirements as defined in the specification within the documentation.
2 Crime
  • Value: £5M

To meet or exceed the Insurance Group's Crime cover requirements as defined in the specification within the documentation.
3 Professional Indemnity
  • Value: £22M

To meet or exceed the Insurance Group's Professional Indemnity cover requirements as defined in the specification within the documentation.

Renewal Options

The contracting authority will consider entering into long term agreements with the bidder(s). Regardless, each awarded contract is for an initial three years, with the option to extend for two further periods of one year each subject to satisfactory service, performance and cost.

Award Criteria

Technical See documentation
Commercial See documentation

CPV Codes

  • 66510000 - Insurance services

Indicators

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

Other Information

** PREVIEW NOTICE, please check Find a Tender for full details. **

Reference

Domains