Insurance Services (Professional Indemnity)

Official notice

Authority: LUPC Ltd (Public body)

ServicesAward procedure without prior publication of a call for competition

Sectors: Financial and insurance services (66) Delivery: London (UKI)South East (UKJ)

Awarded value£1,673,118published contract · exc. VAT

Awarded 1 Aug 2021no call for competition

Awarded to Berkshire Hathaway Specialty Insurance +2 more

What is being bought

Published requirement description

London Universities Purchasing Consortium (LUPC) is placing this notice on behalf of ten members of the LUPC Insurance Group, which intend entering into a contract for the procurement of professional indemnity insurance cover commencing 1 August 2021 on a 12-month basis.

CPV: Insurance services

The lotProcurement structure

single lot · no lot value published

Lot #1Professional indemnity insurance as outlined above

Delivery: London, South East

Procedure terms & legal framework

From the official record

Procedure method: Award procedure without prior publication of a call for competition
Legal basis: CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
Procurement category: Services
Notice status: Awarded without competition
Procurement threshold: Unspecified in notice
Regulatory regime: Standard
Commercial structure: Stand-alone contract (no framework)
Competition type: Direct award (no call for competition)
GPA / WTO covered: Yes (GPA)
Recurring procurement: Unspecified in notice
First published: 19 Aug 2021, 12:37 BST
Last source update: 19 Aug 2021, 12:37 BST
FTS notice number: 2021/S 000-020317
Classification (CPV): Insurance services
Delivery area: London (UKI)South East (UKJ)
Official registry OCID: ocds-h6vhtk-02d6cc Find a Tender

Why no open competition: The procurement falls outside the scope of application of the directive
Published justification: A full OJEU tender placed via in 2020 for up to 5 years resulted in a single, subsequently awarded bid on behalf of the LUPC Insurance Group (IG). Immediately prior to the 1 August 2021 renewal, the provider notified that terms would not be re-offered to several IG members. All known and capable professional indemnity insurers in the market were approached by the IG's appointed broker Gallagher, through whom it was confirmed in writing that they would again not be responding to a formal tender process. Gallagher therefore sought and acquired a Line Slip multi-insurer solution through their Specialty and Wholesale Division team in the knowledge that no acceptable bids would be received via a tender process.

Commercial outcome & contract awards

Published awards, contracts and bid statistics, not a forecast

Awards 1

Awarded value £1,673,1181 contract exc. VAT

Contracts signed 1latest 1 Aug 2021

Awarded to	Value	Date	Status
Berkshire Hathaway Specialty Insurance, Markel International Insurance Company, Tokio Marine HCCjoint award	£1,673,118 †	—	Awarded

Contracts

Contract 020317-2021-1 · Berkshire Hathaway Specialty Insurance, Markel International Insurance Company, Tokio Marine HCC
Signed
1 Aug 2021
Value
£1,673,118
Status
active

Contracting authority & participating public bodies

LONDON UNIVERSITIES PURCHASING CONSORTIUM

Contracting authorityPublic bodyBody governed by public lawEducation Shropshire House,179 Tottenham Court Road, LONDON, UK, W1T7NZContact name, email, phone

Bidders & participating suppliers

3 commercial parties on the notice

Berkshire Hathaway Specialty InsuranceAwarded supplier Boston, US
Markel International Insurance CompanyAwarded supplier London, London
Tokio Marine HCCAwarded supplier London, London

Official documents & specifications

Official links; attachments are not copied

No document links were published on the notice.