Insurance Procurement

What the buyer is asking for

Local Space Limited is seeking Tenders for the provision of corporate insurance cover and associated insurance services. The procurement comprises the following Lots: Lot 1: Property Stock Insurance Lot 2: Combined Liability Insurance, comprising employers' liability, public liability, products liability and associated liability risks as specified in the associated tender documents. Tenderers may tender for one or both Lots. Each Lot will be evaluated and awarded separately. Local Space Limited reserves the right to award the Lots to the same or different Tenderers in accordance with the published award criteria. The Contract will have an initial term of three years, commencing on 9 February 2027, with the option for Local Space Limited to extend the Contract by up to two further periods of one year each. The maximum potential Contract term is therefore five years. The requirements, scope of cover, limits, excesses, service standards, claims handling requirements, Conditions of Participation, pricing requirements and award criteria are set out in the associated tender documents.

How this compares

• This is one of 20 open tenders in United Kingdom for Financial and insurance services.
• Its stated value is higher than 42% of the 19 open tenders in this category that state a value in GBP.
• Bidders were given 28 days from publication to the deadline; the median for open tenders in United Kingdom is 30 days.

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