Financial Lines Insurance Services
Estimated value
—
Awarded value
—
Suppliers
3
Lots
3
Published
03 Jul 2025
Description
London Universities Purchasing Consortium (LUPC) is undertaking this tendering process for Financial Lines Insurance Services commencing 1 August 2025 across three lots made up of Management Liability, Crime and Professional Indemnity. Offers are invited on behalf of one of more lots. The Agreement is being tendered on behalf of the LUPC Insurance Group, a collaborative group of 27 participating institutions from the following purchasing organisations - London Universities Purchasing Consortium: http://www.lupc.ac.uk/list-of-members.html; Southern Universities Purchasing Consortium: http://www.supc.ac.uk/engage/our-members/our-members; and is also available to members of North East Universities Purchasing Consortium (NEUPC): http://www.neupc.ac.uk/our-members; and North West Universities Purchasing Consortium (NWUPC): http://www.nwupc.ac.uk/our-members. It should be noted that (1) LUPC is not seeking any broker services through this procurement; (2) stated inc. VAT values are inc. IPT (Insurance Premium Tax) and that (3) preliminary market engagement was undertaken in late January 2025, prior to commencement of the Procurement Act 2023.
Scope
- Reference
- INS5104 LU
- Commercial tool
- Standalone contract
- Contract dates
- 01 Aug 2025 to 31 Jul 2028Possible extension to 31 Jul 2030
The contracting authority will consider entering into long term agreements with the bidder(s). Regardless, each awarded contract is for an initial three years, with the option to extend for two further periods of one year each subject to satisfactory service, performance and cost.
- CPV classifications
- 66510000
- Contract locations
- UK, United Kingdom
- Particular suitability
- Small and medium-sized enterprises (SME)
Award criteria
Criteria the buyer will use to evaluate bids.
| Name | Description | Type | Weighting |
|---|---|---|---|
| Technical | See documentation | quality | 45.00% |
| Commercial | See documentation | price | 55.00% |
Participation
Conditions suppliers must meet to bid.
Provision of contract certainty and insuring party transparency through submission of the Market Reform Contract (where applicable) or equivalent. Standard & Poor’s A- rating or evidenced equivalency.
Service providers shall be authorised to write the class of insurance listed subject to English law and jurisdiction of English Courts.
Submission & procedure
- Procedure
- Competitive flexible procedure
Award details· 3 awards
Awarded supplier(s), contract period and value as published in the award notice.
Awarded value
—
Award date
02 Jul 2025
Contract start
31 Jul 2025
Contract end
31 Jul 2028
Lots · 3 total
Divisions of the contract. Each lot can be awarded separately.
| Lot | Title | Est. value | Status |
|---|---|---|---|
| LOT-0001 | Management Liability | £2.2m | complete |
| LOT-0002 | Crime | £5.4m | complete |
| LOT-0003 | Professional Indemnity | £21.8m | complete |