Property insurance services

Tender description

The London Borough of Hillingdon are seeking a suitable qualified and competent insurance scheme provider for residential leasehold, shared ownership and mortgaged properties. Each of the Residential Buildings insured will be treated as if it is insured by a separate policy. The Council has a financial/insurable interest in these properties, in most cases as the freeholder. A standard clause in all the leases imposes a responsibility upon the Council to arrange the buildings insurance. The insurance cover is required for Communal Parts — Tenderers need to be aware that leaseholders are responsible, under the terms of their lease, for contributing to the cost of communal/shared works to deal with insured perils, and that this responsibility should be reflected in the buildings insurance arrangements. Copies of policy wording, examples of policy booklets/schedules for circulation at inception of scheme and annual summary of cover documentation should be provided. The London Borough of Hillingdon are seeking a suitable qualified and competent insurance scheme provider for residential leasehold, shared ownership and mortgaged properties. Each of the Residential Buildings insured will be treated as if it is insured by a separate policy. The Council has a financial/insurable interest in these properties, in most cases as the freeholder. A standard clause in all the leases imposes a responsibility upon the Council to arrange the buildings insurance. The insurance cover is required for Communal Parts — Tenderers need to be aware that leaseholders are responsible, under the terms of their lease, for contributing to the cost of communal/shared works to deal with insured perils, and that this responsibility should be reflected in the buildings insurance arrangements. Copies of policy wording, examples of policy booklets/schedules for circulation at inception of scheme and annual summary of cover documentation should be provided. The London Borough of Hillingdon (the Council) is seeking to appoint a sole supplier for the provision of its Residential Leasehold, Shared Ownership and Mortgaged Properties Insurance Scheme. The current contract expires on 31.3.2019 and the proposed new contract details are: Commencement Date: 1.4.2019 Contract Duration: 3 years (36 months) Extension Options: 1 x 2 year (24 months) extension. Total Maximum 5 years