Insurance Tender - Property Lot 1 Awards 2024-2029

Description

The Royal Borough of Kensington & Chelsea (RBKC) has awarded an insurance tender - Property Lot 1 2024-2029 contract to Protector Insurance (Company No: FC033034) for the delivery of Property insurance. 

 The contract is split into 10 Lots as follows: 

Lot 1:  Property 
Lot 2: Combined Liability
Lot 3: Terrorism
Lot 4: Director & Officers Liability
Lot 5: Crime 
Lot 6: PA and Travel
Lot 7: School Journey
Lot 8: Motor Fleet
Lot 9: Residential leasehold buildings
Lot 10 Engineering Inspection


 The tender was carried out using the Open procedure using the Council's capitalEsourcing portal. The Contract Notice was published on 19th of January 2024 and open for 30 days and closed on 19th of February 2024.

 

The contract will be established for an initial duration of five-year arrangement, premiums are not fixed by the insurers as they will be subject to annual index linking to reflect the current inflation at that time. This ensures the Councils' assets are adequately insured and not subject to under-insurance. Additionally, the rate applied by the insurers may be adjusted dependent on the claims loss ratio.