Insurance Broker Services · UK public procurement notice

Insurance and other Financial Requirements - Please refer to the ITT document

Minimum level(s) standards required;

Employer’s (Compulsory) Liability Insurance = 10 million GBP

Public Liability Insurance = 5 million GBP

Professional Indemnity Insurance = 1 million GBP

Bidders must comply with the undernoted financial requirements in order to participate further in the tendering process: -

There is a minimum financial requirement that affects trading performance, balance sheet strength and current liquidity

Financial requirements for trading performance and balance sheet strength should be calculated on latest filed accounts with Companies House.

Trading Performance

An overall positive outcome on pre tax profits over a 3 year period

Exceptional items can be excluded from the calculation.

The above would be expressed in the ratio Pre-Tax Profit/Turnover.

Balance Sheet Strength

Net worth of the organisation must be positive at the time of evaluation and organisation must not be subject to an insolvency process.

Intangibles can be included for purposes of the Total Assets figure.

The above would be expressed in the ratio Total Assets/Total Liabilities

If a Bidder is only required to file abbreviated accounts with Companies House, then in the event of the company being successful in the procurement process, full set of accounts will be required in order to verify the above ratios have been complied with.

A Bidder should have no outstanding issues, with regard to statutory filing r…

Bidders must be registered with the Financial Conduct Authority (FCA)

Bidders will be required to provide examples that demonstrate that they have the relevant experience to deliver the services as described in this Contract Notice and as further detailed in the Invitation to Tender.

Bidders must provide a detailed response to questions 4C1.2 of the Scottish Procurement Document (SPD) noted in the Qualification Envelope of the PCS-T system and as detailed below;

Please provide 2 relevant examples, broadly similar in scale and complexity, of services carried out during the last 3 years as specified in the Contract Notice.

Examples from both public and/or private sector customers and clients may be provided

The examples should highlight all relevant and applicable skills, expertise and capacity to deliver the scope of requirements.

Your examples should include but are not limited to the following details; Customer name, value of contract and start and end dates and Brief description of services provided

Additionally, the examples should highlight experience that demonstrates;

• Capability and expertise in accessing all market providers and in assessing and arranging all types/classes of insurance

Please also detail any management agents used in the delivery of these services and their role

Each example is worth 50%. A minimum pass mark of 60% out of 100% is required in total for these two examples. Any Bidder who fails to achieve the minimum pass mark for this element will be e…