Financial Lines Insurance Services

London Universities Purchasing ConsortiumcontractFind a TenderRef ocds-h6vhtk-0501eaProcurement Act 2023SME suitablepending
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Estimated value

Awarded value

Awarded 02 Jul 2025

Suppliers

3

1 SME

Lots

3

3 awarded

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 2028
Possible 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.

NameDescriptionTypeWeighting
TechnicalSee documentationquality45.00%
CommercialSee documentationprice55.00%

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.

View all →
LotTitleEst. valueStatus
LOT-0001Management Liability£2.2mcomplete
LOT-0002Crime£5.4mcomplete
LOT-0003Professional Indemnity£21.8mcomplete