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Published 4 Mar 2021, 13:25 GMT

Official UK procurement notice

Insurance services · UK public procurement notice

Official notice

Authority: BANK OF ENGLAND

8 lotsServicesOpen procedureSME suitable
Sectors: Financial and insurance services (66) Delivery: UK
Awarded value£752,7768 contracts · exc. VAT
Awarded 5 Feb 2021
Awarded to Aviva Plc +4 more8 awards

What is being bought8 lots · detail below

Published requirement description

Bank of England annual insurances - Property Damage / Business Interruption, Employer's Liability and Public Liability, Fine Art, Construction, Motor, Personal Accident and Travel.

CPV: Financial and insurance services · Insurance services

Lots and requirements (8)Procurement structure

8 lots · no lot values published · same evaluation weights on every lot
Lot #1Property Damage and Business InterruptionAwarded

This lot relates to property damage and business interruption insurance.

Delivery: UK
66000000 Financial and insurance services
Lot #2Primary Combined Liability (Employers Liability GBP 25 Million and Public Liability GBP 10 Million)Awarded

This lot relates to primary combined liability (employers liability GBP 25 million and public liability GBP 10 million) insurance.

Delivery: UK
66000000 Financial and insurance services
Lot #3Excess Combined Liability (EL GBP 25 Million in Excess of GBP 25 Million and PL GBP 40 Million in Excess of GBP 10 Million)Awarded

This lot relates to excess combined liability (EL GBP 25 million in excess of GBP 25 million and PL GBP 40 million in excess of GBP 10 million) insurance.

Delivery: UK
66000000 Financial and insurance services
Lot #4Excess Public Liability (GBP 50 Million in Excess of GBP 50 Million)Awarded

This lot relates to excess public liability (GBP 50 million in excess of GBP 50 million) insurance.

Delivery: UK
66000000 Financial and insurance services
Lot #5Fine ArtAwarded

This lot relates to fine art insurance.

Delivery: UK
66000000 Financial and insurance services
Lot #6ConstructionAwarded

This lot relates to construction insurance.

Delivery: UK
66000000 Financial and insurance services
Lot #7MotorAwarded

This lot relates to motor insurance.

Delivery: UK
66000000 Financial and insurance services
Lot #8Personal Accident and TravelAwarded

This lot relates to personal accident and travel insurance.

Delivery: UK
66000000 Financial and insurance services

What it takes to win
i

How this buyer will score bids.

The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).

Evaluation split and conditions of participation as published; the tender pack may add more
How bids were scored · same split on all 8 lots
Quality: 55%Price: 45%
Published sub-criteria (3)
  • Supplier Long Term Agreement: 10%
  • Quality / Technical: 45%
  • price: 45%
Published award criteria (3)
  • Supplier Long Term Agreement: 10
  • Quality / Technical: 45
  • Price: 45
What this means for your bid
  • Price carries 45 of 100 points: a 10% discount moves about 4.5 points. Quality carries 55 of 100: the paper moves it further than the discount.

Price arithmetic assumes straight proportional scoring; the tender pack may use another formula.

Procedure terms & legal framework

From the official record
Procedure method
Open procedure
Legal basis
CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
Procurement category
Services
Notice status
Awarded
Procurement threshold
Unspecified in notice
Regulatory regime
Standard
Commercial structure
Stand-alone contract (no framework)
Competition type
Competitive procedure
GPA / WTO covered
Yes (GPA)
Recurring procurement
Unspecified in notice
First published
4 Mar 2021, 13:25 GMT
Last source update
4 Mar 2021, 13:25 GMT
Authority reference
DN506315
FTS notice number
2021/S 000-004344
Classification (CPV)
Financial and insurance servicesInsurance services
Delivery area
UK
Official registry OCID
ocds-h6vhtk-029852 Find a Tender

Commercial outcome & contract awards

Published awards, contracts and bid statistics, not a forecast
Awards 8
Awarded value £752,7768 contracts exc. VAT
Bids received 258 from SMEs
Contracts signed 8latest 5 Feb 2021
Awarded toValueDateStatus
Lot 1 · Property Damage and Business Interruption1 award
Aviva Plc£547,888 †—Awarded
Lot 2 · Primary Combined Liability (Employers Liability GBP 25 Million and Public Liability GBP 10 Million)1 award
Risk Management Partners Ltd£99,350 †—Awarded
Lot 3 · Excess Combined Liability (EL GBP 25 Million in Excess of GBP 25 Million and PL GBP 40 Million in Excess of GBP 10 Million)1 award
Aviva Plc£39,375 †—Awarded
Lot 4 · Excess Public Liability (GBP 50 Million in Excess of GBP 50 Million)1 award
American International Group UK Limited£15,000 †—Awarded
Lot 5 · Fine Art1 award
HDI Global Specialty SESME£19,284 †—Awarded
Lot 6 · Construction1 award
Risk Management Partners Ltd£4,579 †—Awarded
Lot 7 · Motor1 award
Risk Management Partners Ltd£22,000 †—Awarded
Lot 8 · Personal Accident and Travel1 award
Chubb European Group£5,300 †—Awarded

Contracts

  • Property Damage and Business Interruption · Aviva Plc

    Signed
    5 Feb 2021
    Value
    £547,888
    Status
    active

  • Primary Combined Liability (Employers Liability GBP 25 Million and Public Liability GBP 10 Million) · Risk Management Partners Ltd

    Signed
    5 Feb 2021
    Value
    £99,350
    Status
    active

  • Excess Combined Liability (EL GBP 25 Million in Excess of GBP 25 Million and PL GBP 40 Million in Excess of GBP 10 Million) · Aviva Plc

    Signed
    5 Feb 2021
    Value
    £39,375
    Status
    active

  • Excess Public Liability (GBP 50 Million in Excess of GBP 50 Million) · American International Group UK Limited

    Signed
    5 Feb 2021
    Value
    £15,000
    Status
    active

  • Fine Art · HDI Global Specialty SESME

    Signed
    5 Feb 2021
    Value
    £19,284
    Status
    active

  • Construction · Risk Management Partners Ltd

    Signed
    5 Feb 2021
    Value
    £4,579
    Status
    active

  • Motor · Risk Management Partners Ltd

    Signed
    5 Feb 2021
    Value
    £22,000
    Status
    active

  • Personal Accident and Travel · Chubb European Group

    Signed
    5 Feb 2021
    Value
    £5,300
    Status
    active

Bid statistics published by the authority

LotBidsSMEVCSEValid bid range
1 · Property Damage and Business Interruption5bids · 5 electronic1——
2 · Primary Combined Liability (Employers Liability GBP 25 Million and Public Liability GBP 10 Million)4bids · 4 electronic1——
3 · Excess Combined Liability (EL GBP 25 Million in Excess of GBP 25 Million and PL GBP 40 Million in Excess of GBP 10 Million)2bids · 2 electronic1——
4 · Excess Public Liability (GBP 50 Million in Excess of GBP 50 Million)3bids · 3 electronic0——
5 · Fine Art3bids · 3 electronic2——
6 · Construction2bids · 2 electronic1——
7 · Motor2bids · 2 electronic1——
8 · Personal Accident and Travel4bids · 4 electronic1——

Contracting authority & participating public bodies

Bank of England

Contracting authorityBody governed by public lawEconomic affairs Bank of England, Threadneedle Street, London, UK, EC2R 8AHContact name, email, phone

Dispute resolution & review bodies

  • Institute of Workplace and Facilities ManagementReview body Bishops Stortford

Bidders & participating suppliers

5 commercial parties on the notice

Official documents & specifications

Official links; attachments are not copied

No document links were published on the notice.