Section one: Contracting authority
one.1) Name and addresses
U.M. Association Limited
Level 4, 5 St Helen’s Place
London
EC3A 6AB
Country
United Kingdom
Region code
UKI - London
Internet address(es)
Main address
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
https://supplierlive.proactisp2p.com/Account/Login
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
https://supplierlive.proactisp2p.com/Account/Login
one.4) Type of the contracting authority
Body governed by public law
one.5) Main activity
Economic and financial affairs
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
T1115 - UMAL Insurance Broker
Reference number
T1115
two.1.2) Main CPV code
- 66000000 - Financial and insurance services
two.1.3) Type of contract
Services
two.1.4) Short description
UMAL needs to secure the services of a UK-based insurance broker with experience, expertise and capacity to act as an intermediary between UMAL and the insurance market (i.e. insurers, reinsurers, and other risk financing institutions). The broker will be required to assist with insurance needs of UMAL which include:
a. Placing Insurance risks with insurers (both local and international)
b. Ensuring adequate insurance for all UMAL exposures
c. Providing wholesale insurance broking services for HMSL on behalf of its Members
d. Covering the entity risks of UMAL, which includes
i. Office Insurance and related covers
ii. Professional Indemnity
iii. Directors and Officers for UMAL Directors and officers
iv. Crime
v. Cyber
Please also note, although the estimated total value is £125M across a potential 5 year contract we would like to make the following clear
The overall value includes both premium and broker fees and could be in the range of £60 - £125m across 5 years
Furthermore, to give an idea of just broker fees, this could end up being around £5m to £15m across 5 years
Please note all figures are purely estimates.
two.1.5) Estimated total value
Value excluding VAT: £125,000,000
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.2) Additional CPV code(s)
- 66510000 - Insurance services
- 66518000 - Insurance brokerage and agency services
- 66518100 - Insurance brokerage services
two.2.3) Place of performance
NUTS codes
- UKI - London
two.2.4) Description of the procurement
UMAL needs to secure the services of a UK-based insurance broker with experience, expertise and capacity to act as an intermediary between UMAL and the insurance market (i.e. insurers, reinsurers, and other risk financing institutions). The broker will be required to assist with insurance needs of UMAL which include:
a. Placing Insurance risks with insurers (both local and international)
b. Ensuring adequate insurance for all UMAL exposures
c. Providing wholesale insurance broking services for HMSL on behalf of its Members
d. Covering the entity risks of UMAL, which includes
i. Office Insurance and related covers
ii. Professional Indemnity
iii. Directors and Officers for UMAL Directors and officers
iv. Crime
v. Cyber
Please also note, although the estimated total value is £125M across a potential 5 year contract we would like to make the following clear
The overall value includes both premium and broker fees and could be in the range of £60 - £125m across 5 years
Furthermore, to give an idea of just broker fees, this could end up being around £5m to £15m across 5 years
Please note all figures are purely estimates.
two.2.5) Award criteria
Price is not the only award criterion and all criteria are stated only in the procurement documents
two.2.6) Estimated value
Value excluding VAT: £125,000,000
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months
60
This contract is subject to renewal
Yes
Description of renewals
Contract would be on a 3 year initial basis with the option to extend for 12 months and then a further 12 months
two.2.10) Information about variants
Variants will be accepted: No
two.2.11) Information about options
Options: No
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Restricted procedure
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: Yes
four.2) Administrative information
four.2.2) Time limit for receipt of tenders or requests to participate
Date
20 January 2025
Local time
12:00pm
four.2.3) Estimated date of dispatch of invitations to tender or to participate to selected candidates
13 December 2024
four.2.4) Languages in which tenders or requests to participate may be submitted
English
Section six. Complementary information
six.1) Information about recurrence
This is a recurrent procurement: Yes
six.4) Procedures for review
six.4.1) Review body
Royal Courts of Justice
The Strand
London
WC2A 2LL
Country
United Kingdom