Provision of a Property and Liability Insurance Protection Scheme to FRIC

Descriptions

This PIN is to alert the market that the Fire and Rescue Indemnity Company Ltd (FRIC) is seeking to talk to the market regarding a requirement for the provision of property and liability insurance from November 2020.FRIC is a wholly owned mutual established in 2015. The company provides discretionary risk protection on a shared liability basis, plus manages the provision of insurance cover on behalf of the FRIC members.FRIC currently has twelve fire and rescue authority members.Regis Mutual Management Ltd is FRIC's appointed Mutual Manager.Regis Mutual therefore wishes to meet interested insurance providers able to offer property and liability insurance cover based on the values below:Property insurance GBP 105 000 to GBP 50 000 000 per event,Liability insurance GBP 205 000 to GBP 50 000 000 per event.FRIC is particularly interested in putting in place a long term arrangement of up to 9 years, the estimated contract value is GBP 15 m.