Council Insurance Premiums

Contract summary

Industry

• Insurance services - 66510000

Location of contract

South East

Value of contract

£1,458,825

Procurement reference

IOW001-DN722511-18147340

Published date

25 June 2024

Closing date

30 March 2024

Closing time

11:59pm

Contract start date

1 April 2024

Contract end date

31 March 2025

Contract type

Service contract

Procedure type

Award of contract without prior publication of a contract notice

Contract is suitable for SMEs?

No

Contract is suitable for VCSEs?

No

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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.

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More information

Additional text

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

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Award information

Awarded date

31 March 2024

Contract start date

1 April 2024

Contract end date

31 March 2025

Total value of contract

£1,458,825

This contract was awarded to 4 suppliers.

Travelers UK

QBE

Navigators and General

Allianz

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About the buyer

Contact name

Vanessa Squibb

Address

County Hall
High Street
Newport
PO30 1UD
United Kingdom

Telephone

+44 1983821000

Email

vanessa.squibb@iow.gov.uk

Website

http://www.iow.gov.uk