Building Insurance- City Wharf

Descriptions

The purpose of this tender is to incept a broker led insurance programme with a financially stable insurer with a financial rating of at least BBB or B++. We require Buildings, Landlords Contents and Property Owners Liability insurance for: •The Forge Building, 22 Wharf Road, N1 7GP Buildings, Declared Value: GBP 44,851,982. •The Saddler Building, 24 Wharf Road, N1 7GQ Buildings, Declared Value: GBP 25,721,499. •The Cooper Building, 36 Wharf Road, N1 7GR Buildings, Declared Value: GBP 23,453,061. •The Merchant Building, 38 Wharf Road, N1 7GS Buildings, Declared Value: GBP 18,042,146. •Property Owners Liability Limit of £50,000,000.00 (£50m) •All Four buildings form part of a single scheme known as City Wharf The Contract will be for an initial term of 3 years extendable at the Client's sole option for a period of up to 2 years, giving a total of 5 years (the Term). A2D’s aims and objectives are to: •Appoint a broker with suitable market access in order to achieve best value. •Appoint a financially stable insurer with a financial rating of at least BBB or B++. •Obtain cover for the full reinstatement value (plus Alternative Accommodation) for the scheme (City Wharf). •Enter into a long-term agreement with the option for A2D to cease such agreement in the event of improving market conditions and available capacity. •Achieve a fair premium (including Insurance Premium Tax) for A2D, its leaseholder’s and stakeholders. •Agree low and reasonable excesses for leaseholder claims. •Agree suitable claims handling processes for leaseholders, allowing them direct access for making claims. •Options for alternative excess, in order to consider these against alternative premiums. •Details of any remediation that MAY be required at a future date in order to reduce premiums. •An initial period of three months or 15 months to allow for an April renewal in either 2026 or 2027, and then to renew annual in April until the end of the term. In addition, the following forms part of this specification: •A skilled and competent service team, being Client Relationship Management, Insurance Claims management, Insurance Broking / underwriting and insurable risk managers. •Arrange suitable and appropriate insurance cover for the risks specified in this ITT and any other risks which might arise during the duration of the contract. •To undertake a continual review of the insurance programme, advising on cover, extensions, and new market products which would be of benefit to the Contracting Authority. •To offer technical support and advice on the interpretation of policy cover. •We will wish to consider your ability to give direct access to decision makers, including Underwriters and those responsible for Claims settlement decisions. •To meet with the Contracting Authority’s appointed person on an agreed frequency basis to review and discuss any issues relating to the provision of service, insured risks, and claims procedures. •To immediately notify the Contracting Authority of any changes to the contracted service including any changes to the Service Provider’s systems of delivery which might have an effect on the Association’s working procedures. •The Insurer will not alter, extend, or effect policy cover without the permission of the Management Team of the Contracting Authority or their nominated points of contact within the Contracting Authority. •To provide and agree details of procedures for major incidents and for the appointment of Loss Adjusters. •To provide and agree details of procedures for the notification of claims and the provision of documentation required. •To provide details of staff and management team together with details of experience, qualifications, and a structure chart together with the financial authorities of personnel involved in the handling of the Contracting Authority’s claims. •To agree with the Contracting Authority the panel of Solicitors, Loss Adjusters, and other experts to be appointed in the provision of the claims handling service. •To monitor the standards and costs of agreed Solicitors, Loss Adjuster and other experts used, advising the Contracting Authority of any proposed alterations, inclusions, or exclusions to the agreed panel and on what grounds. •To provide suitable claims data and reports. •To monitor insurance losses to identify areas of high risk and make recommendations on methods of controlling such losses. •The bidder agrees to provide a periodic review of the Insurance Programme and advice on new legislation, technical developments and new insurance products or services which would benefit of the Contracting Authority, throughout the currency of the contract. For more information about this opportunity, please visit the Delta eSourcing portal at: https://www.delta-esourcing.com/tenders/UK-UK-London:-Financial-and-insurance-services./5SP59MCUY5 To respond to this opportunity, please click here: https://www.delta-esourcing.com/respond/5SP59MCUY5