SPS 2521 - Leasehold (RTB) Properties Insurance

Insurers must be authorised to write the classes of insurance listed within the UK subject to English/Welsh law and jurisdiction of the English/Welsh courts. Potential suppliers may be asked to produce a certificate issued by the appropriate insurance regulatory authority indicating the types of insurance the insurer is authorised to provide and must comply

with Departments of Trade and Industry Regulations. Potential suppliers may be asked to produce a copy of their annual reports and account for the last 3 years, name and address of

bankers, details of the last 3 years of underwriting experience for the classes of business referred to in this notice.

Minimum level(s) of standards possibly required: All insurers must provide evidence that they are at least “A-” rated by Standard and Poor's (or equivalent) and/or approved by the Marsh Market Security Committee, otherwise, their submission may be automatically rejected.

Execution of the service is reserved to a particular profession

Reference to the relevant law, regulation or administrative provision: Execution of the service is reserved to a particular profession Reference to the relevant law,

regulation or administrative provision: Insurers will be insurance companies authorised to write classes of insurance listed within the UK subject to English/Welsh Courts. The service will be regulated by the provisions of the Insurance Act2015 and any other relevant legislation.