Published date: 7 February 2025

Last edited date: 24 February 2025

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.


Closing: 14 March 2025, 12pm

Contract summary

Industry

  • Insurance and pension services - 66500000

Location of contract

London

Value of contract

£35,000

Procurement reference

LC/2025/02/01

Published date

7 February 2025

Closing date

14 March 2025

Closing time

12pm

Contract start date

1 September 2025

Contract end date

31 March 2030

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?

No

Description

London Councils is looking to appoint an Insurance Broker to act as an intermediary between London Councils and insurance companies, to find and secure the right insurance policies to meet our specific needs. The service from 01 April 2025 provided will be typically:

• assess the business needs;
• find suitable insurance;
• present the with insurance options, demonstrating value for money;
• negotiate terms;
• provide advice;
• provide claims assistance; and
• any other adhoc support.

Having regard to London Councils requirements (as set out in the Invitation to Tender), the following insurance policies, are required for the period 01 April 2025 to 31 March 2026:
• Commercial Combined.
• Management Liability (Directors & Officers).
• Employment Practices Liability.
• Fidelity Guarantee (Commercial Crime).
• Group Travel Insurance.
• Libel & Slander (Professional Indemnity).
• Cyber Insurance.

Submissions must be sent to Tenders@Londoncouncils.gov.uk

***NOTE CHANGES TO TENDER REQUIREMENTS INCLUDING COST, SUBMISSION DATES, AND CONTRACT START/END DATES. REVISED TENDER AND TENDER SUBMISSION DOCUMENTS HAVE BEEN UPLOADED AS OF 24.02.25***

In response to feedback we have received on our tender for Corporate Insurance Brokers, we have decided to change our procurement approach.

We have carefully considered the concerns raised regarding the structure of the procurement exercise, particularly the recommendation that the appointment of a broker and the placement of insurance policies should be conducted as separate exercises. We also acknowledge the challenges given the timescales and obligation to comply with the FCA and insurance regulations.

A two-stage procurement process will now be adopted, beginning with the appointment of an insurance broker who will collaborate with us in a separate exercise to place insurance policies effective from 1 April 2026. As part of this revision, Schedule 4 of the Tender Submission Document has been updated to require tenderers to provide a detailed breakdown of their fee structure.

Additionally, the deadline for submitting tenders has been extended by two weeks to midday on Friday, 14 March 2025.

We appreciate your engagement in this process and look forward to receiving your submissions.

Please do not hesitate to contact us should you require any further clarification. The final date for raising questions on the tender has also been moved back by two weeks to midday on Friday, 7 March 2025.

More information

Attachments

About the buyer

Contact name

Richard Merrington

Address

4th Floor, 12 Arthur Street
LONDON
EC4R 9AB
England

Telephone

020 7934 9722

Email

Richard.Merrington@londoncouncils.gov.uk

Website

https://www.londoncouncils.gov.uk/