Insurance services

Tender description

London Universities Purchasing Consortium (LUPC), is seeking quotations for its financial lines insurance covers (professional indemnity, directors and officers liability and crime/fidelity guarantee). This is due to the ending of an existing long term agreement on 31 July 2020. LUPC will be supported through this process by its appointed broker, Gallagher. Given the complex nature of LUPC’s requirements and the current challenges faced by the Market, LUPC wishes to engage with Insurers to better understand what solutions may be available and how best to optimise the outcomes arising from the procurement process. Gallagher will act as the focal point for market engagement, with the active participation of LUPC at all times. London Universities Purchasing Consortium (LUPC), is seeking quotations for its financial lines insurance covers (professional indemnity, directors and officers liability and crime/fidelity guarantee). This is due to the ending of an existing long term agreement on 31 July 2020. LUPC will be supported through this process by its appointed broker, Gallagher. The LUPC Insurance Group (IG) is a group of approximately 40 participating institutions, principally made up of members of LUPC (https://www.lupc.ac.uk/member-list) together with a number of SUPC institutions (http://www.supc.ac.uk/about-us/our-members/our-members). It is also possible that at some point within the lifetime of the agreement it may be used by members (full and associate) of other HE purchasing consortia. Given the complex nature of LUPC’s requirements and the current challenges faced by the market, LUPC wishes to engage with Insurers to better understand what solutions may be available and how best to optimise the outcomes arising from the procurement process. Gallagher will act as the focal point for market engagement, with the active participation of LUPC at all times. It should be noted that LUPC are not seeking any broker services through this procurement. Once pre market engagement has finished and bidding commences all contact with the market will be via the LUPC EU Supply e-Sourcing portal (https://www.lupc.ac.uk/suppliers) with acceptable bids from the capacity provider only being considered. Gallagher as the appointed insurance broker to LUPC, will provide technical support and guidance throughout the procurement exercise. For the avoidance of doubt, LUPC as the contracting authority, will have complete control over bid evaluations and make all awards.