Published date: 5 October 2018
Closed opportunity - This means that the contract is currently closed. The buying department may be considering suppliers that have already applied, or no suitable offers were made.
Contract summary
Industry
Property insurance services - 66515200
Location of contract
UB8 1UW
Value of contract
£1,400,000
Procurement reference
tender_190440/714926
Published date
5 October 2018
Closing date
5 November 2018
Contract start date
1 April 2019
Contract end date
31 March 2022
Contract type
Service contract
Procedure type
Open procedure (above threshold)
Any interested supplier may submit a tender in response to an opportunity notice.
This procedure can be used for procurements above the relevant contract value threshold.
Contract is suitable for SMEs?
No
Contract is suitable for VCSEs?
No
Description
The London Borough of Hillingdon are seeking a suitable qualified and competent insurance scheme provider for residential leasehold, shared ownership and mortgaged properties
Each of the Residential Buildings insured will be treated as if it is insured by a separate policy.
The Council has a financial/insurable interest in these properties, in most cases as the freeholder. A standard clause in all the leases imposes a responsibility upon the Council to arrange the buildings insurance.
The insurance cover is required for Communal Parts - Tenderers need to be aware that leaseholders are responsible, under the terms of their lease, for contributing to the cost of communal/shared works to deal with insured perils, and that this responsibility should be reflected in the buildings insurance arrangements.
It is desirable that the Policy should not be subject to Average.
Copies of policy wording, examples of policy booklets/schedules for circulation at inception of scheme and annual summary of cover documentation should be provided and a flexible approach to underwriting is desirable.
Ease of Administration is desirable, such as the requirements for declarations and the notifications of new properties. The policy operates with a common renewal date.
COVER REQUIREMENTS
Insured: London Borough of Hillingdon and their respective leaseholders and/or freeholders and/or part owners. Automatic interest of the freeholder and the head lessee of the residential property (if they are not the policyholder), the owner or lessee of each residential property and the mortgagee of any of them are deemed to be automatically noted.
Covering: Residential Leasehold Properties, Shared Ownership and Mortgaged Properties in London Borough of Hillingdon and Freeholders with a London Borough of Hillingdon Mortgage.
SUMMARY OF COVER REQUIRED
A. Insurance and Claims handling in respect of:
- Material Damage cover for 'All Risks' of accidental physical loss or damage to the properties insured, including Terrorism.
- Loss of Rent /Alternative accommodation
- Property Owners Liability - Limit of indemnity £5,000,000
- Legal Expenses - Limit of indemnity £10,000
- Claims Handling arrangements
B.Material Damage
For any Leasehold, Mortgaged or Equity Share residential/and or commercial property including the landlord's contents and common parts.
Buildings Perils:
- Full detailed requirements in the Specification
More information
Additional text
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Full suite of tender documents can be found on www.capitalesourcing.com
About the buyer
Contact name
Allison Mayo
Address
Civic Centre, High Street
Uxbridge
UB8 1UW
England
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Closing: 5 November 2018
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