T1115 - UMAL Insurance Broker
A Contract Award Notice
by U.M. ASSOCIATION LIMITED
- Source
- Find a Tender
- Type
- Contract (Services)
- Duration
- not specified
- Value
- 60M-125M
- Sector
- BUSINESS
- Published
- 05 Jun 2025
- Delivery
- not specified
- Deadline
- n/a
Concepts
Location
London:
1 buyer
- Um Association London
1 supplier
- Lockton Companies London
Description
UMAL needs to secure the services of a UK-based insurance broker with experience, expertise and capacity to act as an intermediary between UMAL and the insurance market (i.e. insurers, reinsurers, and other risk financing institutions). The broker will be required to assist with insurance needs of UMAL which include: a. Placing Insurance risks with insurers (both local and international) b. Ensuring adequate insurance for all UMAL exposures c. Providing wholesale insurance broking services for HMSL on behalf of its Members d. Covering the entity risks of UMAL, which includes i. Office Insurance and related covers ii. Professional Indemnity iii. Directors and Officers for UMAL Directors and officers iv. Crime v. Cyber Please also note, although the estimated total value is £125M across a potential 5 year contract we would like to make the following clear The overall value includes both premium and broker fees and could be in the range of £60 - £125m across 5 years Furthermore, to give an idea of just broker fees, this could end up being around £5m to £15m across 5 years Please note all figures are purely estimates.
Award Detail
| 1 | Lockton Companies (London)
|
Award Criteria
| Quality | 80 |
| price | 20 |
CPV Codes
- 66000000 - Financial and insurance services
- 66510000 - Insurance services
- 66518000 - Insurance brokerage and agency services
- 66518100 - Insurance brokerage services
Other Information
** PREVIEW NOTICE, please check Find a Tender for full details. **
Reference
- ocds-h6vhtk-04c7e0
- FTS 030203-2025