Corporate Insurance Brokers

Description

London Councils is looking to appoint an Insurance Broker to act as an intermediary between London Councils and insurance companies, to find and secure the right insurance policies to meet our specific needs. The service from 01 April 2025 provided will be typically: • assess the business needs; • find suitable insurance; • present the with insurance options, demonstrating value for money; • negotiate terms; • provide advice; • provide claims assistance; and • any other adhoc support. Having regard to London Councils requirements (as set out in the Invitation to Tender), the following insurance policies, are required for the period 01 April 2025 to 31 March 2026: • Commercial Combined. • Management Liability (Directors & Officers). • Employment Practices Liability. • Fidelity Guarantee (Commercial Crime). • Group Travel Insurance. • Libel & Slander (Professional Indemnity). • Cyber Insurance. Submissions must be sent to Tenders@Londoncouncils.gov.uk ***NOTE CHANGES TO TENDER REQUIREMENTS INCLUDING COST, SUBMISSION DATES, AND CONTRACT START/END DATES. REVISED TENDER AND TENDER SUBMISSION DOCUMENTS HAVE BEEN UPLOADED AS OF 24.02.25*** In response to feedback we have received on our tender for Corporate Insurance Brokers, we have decided to change our procurement approach. We have carefully considered the concerns raised regarding the structure of the procurement exercise, particularly the recommendation that the appointment of a broker and the placement of insurance policies should be conducted as separate exercises. We also acknowledge the challenges given the timescales and obligation to comply with the FCA and insurance regulations. A two-stage procurement process will now be adopted, beginning with the appointment of an insurance broker who will collaborate with us in a separate exercise to place insurance policies effective from 1 April 2026. As part of this revision, Schedule 4 of the Tender Submission Document has been updated to require tenderers to provide a detailed breakdown of their fee structure. Additionally, the deadline for submitting tenders has been extended by two weeks to midday on Friday, 14 March 2025. We appreciate your engagement in this process and look forward to receiving your submissions. Please do not hesitate to contact us should you require any further clarification. The final date for raising questions on the tender has also been moved back by two weeks to midday on Friday, 7 March 2025.