Scope
Reference
INS5104 LU
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.
Total value (estimated)
- £29,400,000 excluding VAT
- £32,928,000 including VAT
Above the relevant threshold
Contract dates (estimated)
- 1 August 2025 to 1 August 2028
- Possible extension to 1 August 2030
- 5 years, 1 day
Description of possible extension:
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.
Main procurement category
Services
CPV classifications
- 66510000 - Insurance services
Contract locations
- UK - United Kingdom
Lot LOT-0001. Management Liability
Description
To meet or exceed the Insurance Group's Management Liability cover requirements as defined in the specification within the documentation.
Lot value (estimated)
- £2,200,000 excluding VAT
- £2,464,000 including VAT
Same for all lots
CPV classifications, contract locations and contract dates are shown in the Scope section, because they are the same for all lots.
Lot LOT-0002. Crime
Description
To meet or exceed the Insurance Group's Crime cover requirements as defined in the specification within the documentation.
Lot value (estimated)
- £5,400,000 excluding VAT
- £6,048,000 including VAT
Same for all lots
CPV classifications, contract locations and contract dates are shown in the Scope section, because they are the same for all lots.
Lot LOT-0003. Professional Indemnity
Description
To meet or exceed the Insurance Group's Professional Indemnity cover requirements as defined in the specification within the documentation.
Lot value (estimated)
- £21,800,000 excluding VAT
- £24,416,000 including VAT
Same for all lots
CPV classifications, contract locations and contract dates are shown in the Scope section, because they are the same for all lots.
Participation
Legal and financial capacity conditions of participation
Lot LOT-0001. Management Liability
Lot LOT-0002. Crime
Lot LOT-0003. Professional Indemnity
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.
Technical ability conditions of participation
Lot LOT-0001. Management Liability
Lot LOT-0002. Crime
Lot LOT-0003. Professional Indemnity
Service providers shall be authorised to write the class of insurance listed subject to English law and jurisdiction of English Courts.
Particular suitability
Lot LOT-0001. Management Liability
Lot LOT-0002. Crime
Lot LOT-0003. Professional Indemnity
Small and medium-sized enterprises (SME)
Submission
Enquiry deadline
29 April 2025, 2:00pm
Submission type
Tenders
Tender submission deadline
22 May 2025, 2:00pm
Submission address and any special instructions
Tenders may be submitted electronically
Yes
Languages that may be used for submission
English
Award decision date (estimated)
4 July 2025
Recurring procurement
Publication date of next tender notice (estimated): 11 April 2030
Award criteria
| Name | Description | Type | Weighting |
|---|---|---|---|
| Commercial | See documentation |
Price | 55% |
| Technical | See documentation |
Quality | 45% |
Other information
Conflicts assessment prepared/revised
Yes
Procedure
Procedure type
Competitive flexible procedure
Competitive flexible procedure description
There are potentially two stages, initial tender responses evaluated in stage one followed optionally by further negotiation and submission of best-and-final offers in stage two.
Contracting authority
London Universities Purchasing Consortium
- Public Procurement Organisation Number: PNVT-3763-LBZD
5th Floor, Pinnacle House, 23-26 St Dunstan's Hil
London
EC3R 8HN
United Kingdom
Contact name: Mike Kilner
Telephone: 02073072760
Email: m.kilner@lupc.ac.uk
Website: https://www.lupc.ac.uk
Region: UKI31 - Camden and City of London
Organisation type: Public authority - sub-central government