Published date: 2 December 2021

This notice was replaced on 7 March 2022

This notice does not contain the most up-to-date information about this procurement. The most recent notice is:

Awarded contract (published 7 March 2022)

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

  • Insurance brokerage services - 66518100

Location of contract

EC2Y 5AS

Value of contract

£15,000 to £60,000

Procurement reference

FRC2021-083 Insurance Brokerage Services

Published date

2 December 2021

Closing date

23 December 2021

Closing time

4pm

Contract start date

24 January 2022

Contract end date

23 January 2023

Contract type

Service contract

Procedure type

Open procedure (below threshold)

Any interested supplier may submit a tender in response to an opportunity notice.

This procedure can be used for procurements below the relevant contract value threshold.

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

Yes

Description

The Financial Reporting Council sets the UK accounting, audit and actuarial standards and administers the Corporate Governance and Stewardship Codes. As the competent authority for audit in the UK the FRC sets auditing and ethical standards and monitors and enforces audit quality. The FRC works in the public interest. Our work is aimed at investors and others who rely on company reports, audit, and high-quality risk management.
The Financial Reporting Council is committed to
• supporting the creation of a new regulator, the Audit, Reporting and Governance Authority (ARGA), which will be a strong and fit for-purpose regulator and provide increased confidence in the UK market.
• Protecting and improving audit and reporting quality.
• Making company reporting fit for the future.
• Supporting the creation of the audit of the future
• Ensuring that the world-leading UK Corporate Governance and Stewardship Codes make the UK a great place to do business, helping support Covid-19 recovery and UK prosperity.
We also monitor and take action to promote the quality of corporate reporting and operate independent enforcement arrangements for accountants and actuaries. Further information about our role can be found at www.frc.org.uk.

This Notice relates to our Insurance Brokerage Services Project.

The FRC intends to appoint a registered insurance broker/broker firm to procure competitive insurance covers and premiums, net of broking commission. Schedule A contains details of the wide portfolio of insurances maintained by the FRC. The appointed broker will be required to provide the following services: -


• advice and assistance as required on all aspects of the FRC's insurance needs;
• advice on, and negotiation of, renewal terms and premiums for the policies detailed in Schedule A;
• advice on the levels of cover held and/or indemnities to be maintained under these policies;
• advice and assistance on the processing of claims.

Full details are available in the attached Invitation to Tender (ITT) and associated documents.

More information

Attachments

Additional text

Notes:-

• Download and review the documents;

• Observe the timelines and tender process

• Register your interest in this opportunity by email to procurement@frc.org.uk

• You will need to register your interest in this opportunity to receive the Q&A responses.

About the buyer

Contact name

Head of Procurement

Address

8Th Floor,125 London Wall
LONDON
EC2Y5AS
England

Telephone

020 7492 2300

Email

procurement@frc.org.uk

Website

www.frc.org.uk