Council Insurance Premiums

Award

Buyers

Isle of Wight Council

Value

£1,458,825

Suppliers

Classifications

Insurance services

Submission Deadline

5 months ago

Published

2 months ago

Description

Council Insurance Premiums from 1 April 2023 until 31 March 2025 (2 year's premiums). The value paid for premiums in 2023/24 was £751723.08 and the value of the premiums for 2024/25 is £805712.47. 
The Authority has a long term agreement with the supplier that should have been in place until 31/03/2025 however due to miscommunications that contract did not include the 2 year extension agreement. This only came to light after the contract had ended last year so we were unable to modify it before it expired. The value paid for premiums in 2023/24 was £751723.08 and the value of the premiums for 2024/25 is £805712.47. It should be noted that premiums are paid via our Broker - Marsh Ltd.

A VEAT was published (2024/S 000-018183) and the Authority observed a 10 day standstill period that ended at midnight on 24 June 2024.

Additional information: 
Any values given cover the period 01/04/2023 to 31/03/2025.

Documents

Premium

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Contract Agreement

The official contract terms, conditions, and scopes of work.

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Award Notice

Details on the tender award and selected suppliers.

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