Insurance services

Tender description

PPE REF 2907 Provision for Terrorism insurance for buildings, contents, business interruption and fine art. Procurement Policy Exception Form completed. PPE REF 2907 Provision for Terrorism insurance for buildings, contents, business interruption and fine art. There was a tender exercise for Terrorism insurance in 2015 which included terrorism cover for the above aspects. The cover was to be made available via a terrorism facility provided by the University's broker at the time (Aon) with Catlin as the lead insurer but they stopped participating in the Aon facility. This has meant that the only terrorism insurance they could provide was via the Government scheme (Pool Re) and would not be at the competitive rates that had been put forward as part of their original tender. The University subsequently changed broker (from Aon to AJ Gallagher) in October 2016 and so no longer have access to the terrorism facility provided by Aon. However, the new broker also has a terrorism facility and it is proposed that the University's uses this route to acquire the cover that needs to be in place on 1.8.2017. The lead insurer through the AJ Gallagher facility would be Chaucer. The intention would be to put the terrorism cover out to tender again next year (2018). Procurement Policy Exception Form completed.