Insurance services

Tender description

The London Borough of Croydon and the participating Local Authorities detailed in 1.2 that make up the Insurance London Consortium (ILC) are tendering for Lot 1) Motor Lot 2) Commercial Property Lot 3) Engineering Insurance and Inspection Lot 4) Crime Lot 5) Personal Accident and Business Travel Lot 6) School Journey. The ILC have appointed AON, as its Brokers, for the purposes of the tender exercise. The period of cover will be for 5 years for the following London Boroughs; Camden, Croydon, Haringey, Harrow, Islington, Lambeth, Sutton ,Tower Hamlets and Royal Borough of Kingston. The ILC requires all Tenderers to have Standard and Poor's Rating of ‘A’ (or equivalent) or be approved by Aon's Security Committee. Tenders are requested from Insurers registered with the FCA to underwrite the classes of insurance required. The award criteria for each lot is explained in the Instructions to Tender document. Lot 1) Motor The period of cover will be for 60 months. The ILC requires all Tenderers to have Standard and Poor's Rating of ‘A’ (or equivalent) or be approved by Aon's Security Committee. The 9 ILC members are tendering together. Award criteria for this lot is Quality 30 % and Price 70 % (made up of 60 marks premium and 10 marks Aggregate Stop Loss). Lot 2) Commercial Property The period of cover will be for 60 months. The ILC requires all Tenderers to have Standard and Poor's Rating of ‘A’ (or equivalent) or be approved by Aon's Security Committee. The 9 ILC members are tendering together. Award criteria for this lot is Quality 30 % and Price 70 %. Lot 3) Engineering Insurance and Inspection The period of cover will be for 60 months. The ILC requires all Tenderers to have Standard and Poor's Rating of ‘A’ (or equivalent) or be approved by Aon's Security Committee. The 9 ILC members are tendering together. Award criteria for this lot is Quality 40 % and Price 60 %. Lot 4) Crime The period of cover will be for 60 months. The ILC requires all Tenderers to have Standard and Poor's Rating of ‘A’ (or equivalent) or be approved by Aon's Security Committee. The 9 ILC members are tendering together. Award criteria for this lot is Quality 30 % and Price 70 %. Lot 5) Personal Accident and Business Travel The period of cover will be for 60 months. The ILC requires all Tenderers to have Standard and Poor's Rating of ‘A’ (or equivalent) or be approved by Aon's Security Committee. The 9 ILC members are tendering together. Award criteria for this lot is Quality 30 % and Price 70 %. Lot 6) School Journey The period of cover will be for 60 months. The ILC requires all Tenderers to have Standard and Poor's Rating of ‘A’ (or equivalent) or be approved by Aon's Security Committee. The 9 ILC members are tendering together. Award criteria for this lot is Quality 30 % and Price 70 %.