Official UK procurement notice
Insurance Services - Public, Products, Errors & Omissions and Clinical Trials Liability
Authority: CENTRE FOR PROCESS INNOVATION LIMITED (Public body)
What is being bought
Published requirement descriptionRenewal of Insurance policies via procured broker for CPI insurance policies for Public, Products, Errors & Omissions and Clinical Trials Liability.
CPV: Insurance services
The lotProcurement structure
single lot · no lot value publishedLot #1Procurement of Insurance Policies for Public, Products, Errors and Omissions and…
Procurement of Insurance Policies for Public, Products, Errors and Omissions and Clinical Trials Liability.
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
- 23 Aug 2024, 15:09 BST
- Last source update
- 23 Aug 2024, 15:09 BST
- Authority reference
2444- FTS notice number
2024/S 000-027117- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-0493b5Find a Tender
- Why no open competition
- The procurement falls outside the scope of application of the directive
- Published justification
Centre For Process Innovation Limited (CPI) is putting out this notice as a VEAT (Voluntary Ex ante Transparency Notice) as CPI intends to complete a Direct Award to Newline Insurance Company Limited for the provision of the classes of
insurance identified below, without a call for competition in accordance with the Public Contracts Regulations 2015.
The bulk of insurance services to be obtained under the Direct Award shall relate to Public & Products Liability & Errors & Omissions Liability and Clinical Trials Liability.
The contract duration is expected to be 24 months from 1st December 24 and the value of the contracts will be £507,172.59.
The justification for a Direct Award is the Life Sciences insurance market is protecting organisations against a unique range of risks, with differing exposures, the nature of the insurance requires extensive risk analysis of matters such as type of clinical trials being undertaken.
Furthermore there is a limited marketplace of organisations that undertake the specialist & complex business activities that CPI undertake (CPI operates as technology and research innovation centre specialising in highly advanced medicine manufacture,
formulations, therapeutic biologicals manufacture, and electronics & photonics systems) whereby it is considered the insurance market would not be able to adequately assess &
provide quotations to CPI via a Public Contracts Regulation tender process.
It is because of these complex challenges that CPI via their procured broker have approached a number of
Insurers are proposing to continue working with their current insurance provider Newline Insurance Company Limited.
Commercial outcome & contract awards
Published awards, contracts and bid statistics, not a forecast| Awarded to | Value | Date | Status |
|---|---|---|---|
| Newline Insurance Company Limited | £507,173 † | — | Awarded |
Contracts
Contract 027117-2024-2444-1 · Newline Insurance Company Limited
- Signed
- 22 Aug 2024
- Value
- £507,173
- Status
- active
Contracting authority & participating public bodies
Dispute resolution & review bodies
- Centre for Process InnovationReview body
Bidders & participating suppliers
1 commercial party on the notice- Newline Insurance Company LimitedAwarded supplier
Official documents & specifications
Official links; attachments are not copiedNo document links were published on the notice.