Published date: 1 May 2024

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 28 March 2024, 5pm

Contract summary

Industry

  • Insurance services - 66510000

  • Marine, aviation and other transport insurance services - 66514120

  • General liability insurance services - 66516400

Location of contract

SW1A 2AH

Value of contract

£1,125,000

Procurement reference

tender_384572/1316602

Published date

1 May 2024

Closing date

28 March 2024

Closing time

5pm

Contract start date

1 April 2024

Contract end date

31 March 2029

Contract type

Service contract

Procedure type

Call-off from a framework agreement

A mini-competition or direct purchase from a pre-established framework agreement.

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

No

Description

The FCDO intends to fund insurance cover through a bespoke self-fund hybrid model that reflects the FCDO's unique requirements and global reach. Staff are encouraged to opt in and pay one-third of the premium cover, with the FCDO covering the remaining two-thirds. The supplier will be responsible for arranging the policy provisions and administering insurance cover. All UKB premium contributions will go into a FCDO claims pot (see below) with a set lower limit and if this lower amount is breached, the FCDO then returns to a self-funded approach model. The funding is structured such that the FCDO reduces the total premium price for the UKB Staff by two-thirds. The FCDO's two-thirds contribution will be used to top up the claims pot as needed to honour claims. All UKB staff contributions will be collected and directly administered by the supplier. The remaining funds in the existing claims pot will be transferred to the successful bidder during the transition period.

REQUIREMENT

Detail of the Worldwide All Risks (WWAR) Insurance Scheme:

The following elements will be included in the WWAR Insurance Scheme Contract:
1. WWAR Personal Effects and Personal Liability Insurance Scheme;
2. Personal Accident Insurance Cover for Spouses/Registered Unmarried Partners
3. Marine Transit Insurance cover for UKB personal vehicles (to/from selected Posts)

More information

Attachments

Award information

Awarded date

28 March 2024

Contract start date

1 April 2024

Contract end date

31 March 2029

Total value of contract

£1,125,000

This contract was awarded to 1 supplier.

Marsh Limited

Address

Tower Place West, LONDON, EC3R 5BU

Reference

Companies House number: 01507274

Supplier is SME?

No

Supplier is VCSE?

No

About the buyer

Address

Foreign Commonwealth and Development Office
London
SW1A 2AH
England

Email

Commercial.Corporate@fcdo.gov.uk