FRIC Insurance

Descriptions

The Authority is a discretionary mutual established by nine of the current members in 2015. The Authority provides risk protection on a shared liability basis for its Members and managed claims. Currently there are twelve Member Fire and Rescue Authorities. Other fire and rescue authorities may also become Members over the period of the Contract. The Contractor (or Contractors) will be expected to provide these Services in relation to any new Members joining the Authority during the Contract. Regis Mutual Management Limited (RMML) are the Authority's managers. They are supporting the Authority in this Procurement and the successful Organisation will be expected to work closely with RMML, as further described in the Specifications. The Authority requires all Tenderers wishing to participate in the Procurement to submit an NDA. This is to protect the Authority's commercial information, including the Underwriting Agreement, risk data, claims data and actuarial reports. This information will be released to a Tenderers when they have provided a signed copy of the NDA. The signed NDA should be submitted through the Portal's email facility. The purpose of the ITT is to identify a Contractor or Contractors to provide the Services below. Insurances for claims above the Authority and the Authority's Members' retention limits as follows: Property Insurance - above £105,000 up to £50,000,000 per event; Liability Insurance - above £205,000 up to £50,000,000 per event. Initial term of the Contract period will be 1st November 2020 to 31st October 2022 (to be exercised by the Authority at its absolute discretion) to extend for three (3) further two (2) years periods up to the eight year. The final extension will be one(1) year, taking the contract to a 9 year period. Initial Term 1st November 2020 to 31st October 2022. If the first extension period is granted, this will be for two (2) years 1st November 2022 to 31st October 2024. If the second extension period is granted, this will be for a further two years (2) 1st November 2024 to 31st October 2026. If the third extension is granted, this will be for a further two (2) years 1st November 2026 to 31st October 2028. The final extension is for one (1) year 1st November 2028 to 31st October 2029. The Contract duration may be extended up to a maximum of nine 9 years ending 31st October 2029 with up to four (4) extension periods.