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AwardedFind a Tender · award

Group Income Protection Policy

Buyer: NATIONAL WEALTH FUND LIMITED →

BuyerNATIONAL WEALTH FUND LIMITED
StatusAwarded
DeadlineNot published
ValueValue not published
Published19 Dec 2024

What is being bought

Provision of Income Protection Policy

Delivery location

UK

Categories

Insurance services 66510000Insurance services 66510000

Lot details

Lot 1

Group Income Protection Policy for NWF staff.

Statuscancelled

Award criteria
price

What is included

ItemCategoryQuantity
1Insurance servicesNot published

Comparable-procurement analytics

Benchmarked against retained Find a Tender procedures with CPV division 66. The category anchor is Insurance services (66510000); this is a deliberately broad market comparator. The comparison is shown at several levels rather than pretending one company or region is always the best benchmark.

Comparison setProceduresReported bids per procedureNamed award suppliersPrice evidence
Market: CPV division 662,5623 median · 15.1 average (1,090 of 2,562 with a bid count)2.5 average (1,210 of 2,562 with named award suppliers)Not published
Same buyer0Not publishedNot publishedNot published
Delivery region: UK8305 median · 20.6 average (311 of 830 with a bid count)3.2 average (348 of 830 with named award suppliers)Not published

“Reported bids” is an official aggregate, sometimes reported per lot; it is the closest available competition measure. “Named award suppliers” are winners, not all applicants.

Price-outcome signal

Not enough comparable procedures currently publish both a GBP tender value and a usable lowest-valid-bid value to calculate a responsible price-reduction benchmark. Tenderline deliberately does not infer a saving from named award suppliers or from missing award values.

Procurement strategy & market signals

Framework agreementNot published
Dynamic purchasing systemNot published
Competitive procurementNot published
Recurring requirementNot published
Procurement method rationaleNWF appointed an insurance broker who it was thought had brokered a one year contract for this insurance on behalf of the NWF. This contract was below threshold value and no prior publication was required ahead of contracting. It has recently been uncovered it was a one year contract with 2 optional 12 month extensions and that the first extension has been taken. We are therefore issuing a late award notice.
Rationale classificationsThe procurement falls outside the scope of application of the directive
Special regimeNot published
Covered byGPA
Submission policyNot published
Selection criteriaNot published
Risk detailsNot published

Planning & early market engagement

BudgetNot published
No-engagement rationaleNot published
Planning documents0
Planning milestones0

No planning milestones published.

Related procurements

No linked framework, prior procurement or reprocurement published.

Awards

Contracts

041011-2024-1

Statusactive
Value£520,931

Documents & submission route

No documents are published in the current source record.

Source data inventory

Diagnostic view. “Not published” means this current release does not provide a value.

OCIDocds-h6vhtk-04c9b0
Latest release ID041011-2024
Latest release timestampThu Dec 19 2024 14:58:22 GMT+0000 (Coordinated Universal Time)
Sourcefind-a-tender
Official notice URLNot published
Tender statuscomplete
Procurement methodlimited
Procurement method detailsAward procedure without prior publication of a call for competition
Main procurement categoryservices
Above thresholdNot published
Legal basis32014L0024
Tender period: startNot published
Tender period: endNot published
Expression of interest deadlineNot published
Enquiry deadlineNot published
Award period: startNot published
Award period: endNot published
Submission method detailsNot published
Submission languagesNot published
Electronic catalogue policyNot published
Total tender valueNot published
Tender lots in source1
Tender items in source1
Tender documents in source0
Awards in latest release1
Contracts in latest release1
Parties in latest release3

Notice history

DateEventReference
19 Dec 2024award, contract041011-2024

All source data

Unmodified official OCDS data retained by Tenderline for this procurement process.

Complete current OCDS release JSON
{
  "id": "041011-2024",
  "tag": [
    "award",
    "contract"
  ],
  "bids": {
    "statistics": [
      {
        "id": "1",
        "value": 1,
        "measure": "bids",
        "relatedLot": "1"
      }
    ]
  },
  "date": "2024-12-19T14:58:22Z",
  "ocid": "ocds-h6vhtk-04c9b0",
  "buyer": {
    "id": "GB-COH-06816271",
    "name": "NATIONAL WEALTH FUND LIMITED"
  },
  "awards": [
    {
      "id": "041011-2024-1",
      "status": "active",
      "suppliers": [
        {
          "id": "GB-COH-00973271",
          "name": "Canada Life Limited"
        }
      ],
      "relatedLots": [
        "1"
      ]
    }
  ],
  "tender": {
    "id": "C0434",
    "lots": [
      {
        "id": "1",
        "status": "cancelled",
        "options": {
          "description": "2 x 12 month extension options with a maximum end date of 31/08/2026"
        },
        "hasOptions": true,
        "description": "Group Income Protection Policy for NWF staff.",
        "awardCriteria": {
          "criteria": [
            {
              "type": "price"
            }
          ]
        }
      }
    ],
    "items": [
      {
        "id": "1",
        "relatedLot": "1",
        "deliveryAddresses": [
          {
            "region": "UK"
          }
        ],
        "additionalClassifications": [
          {
            "id": "66510000",
            "scheme": "CPV",
            "description": "Insurance services"
          }
        ]
      }
    ],
    "title": "Group Income Protection Policy",
    "status": "complete",
    "coveredBy": [
      "GPA"
    ],
    "legalBasis": {
      "id": "32014L0024",
      "scheme": "CELEX"
    },
    "description": "Provision of Income Protection Policy",
    "classification": {
      "id": "66510000",
      "scheme": "CPV",
      "description": "Insurance services"
    },
    "procurementMethod": "limited",
    "mainProcurementCategory": "services",
    "procurementMethodDetails": "Award procedure without prior publication of a call for competition",
    "procurementMethodRationale": "NWF appointed an insurance broker who it was thought had brokered a one year contract for this insurance on behalf of the NWF. This contract was below threshold value and no prior publication was required ahead of contracting. It has recently been uncovered it was a one year contract with 2 optional 12 month extensions and that the first extension has been taken. \nWe are therefore issuing a late award notice.",
    "procurementMethodRationaleClassifications": [
      {
        "id": "D_OUTSIDE_SCOPE",
        "scheme": "TED_PT_AWARD_CONTRACT_WITHOUT_CALL",
        "description": "The procurement falls outside the scope of application of the directive"
      }
    ]
  },
  "parties": [
    {
      "id": "GB-COH-06816271",
      "name": "NATIONAL WEALTH FUND LIMITED",
      "roles": [
        "buyer"
      ],
      "address": {
        "region": "UKE42",
        "locality": "Leeds",
        "postalCode": "LS14HR",
        "countryName": "United Kingdom",
        "streetAddress": "2 Whitehall Quay, Leeds"
      },
      "details": {
        "url": "https://www.nationalwealthfund.org.uk/",
        "classifications": [
          {
            "id": "BODY_PUBLIC",
            "scheme": "TED_CA_TYPE",
            "description": "Body governed by public law"
          },
          {
            "id": "04",
            "scheme": "COFOG",
            "description": "Economic affairs"
          }
        ]
      },
      "identifier": {
        "id": "06816271",
        "scheme": "GB-COH",
        "legalName": "NATIONAL WEALTH FUND LIMITED"
      },
      "contactPoint": {
        "email": "procurement@ukib.org.uk"
      }
    },
    {
      "id": "GB-COH-00973271",
      "name": "Canada Life Limited",
      "roles": [
        "supplier"
      ],
      "address": {
        "region": "UK",
        "locality": "Herfordshire",
        "countryName": "United Kingdom"
      },
      "details": {
        "scale": "large"
      },
      "identifier": {
        "id": "00973271",
        "scheme": "GB-COH",
        "legalName": "Canada Life Limited"
      }
    },
    {
      "id": "GB-FTS-5790",
      "name": "The Royal Courts of Justice",
      "roles": [
        "reviewBody"
      ],
      "address": {
        "locality": "London",
        "postalCode": "WC2A 2LL",
        "countryName": "United Kingdom",
        "streetAddress": "Strand"
      },
      "identifier": {
        "legalName": "The Royal Courts of Justice"
      }
    }
  ],
  "language": "en",
  "contracts": [
    {
      "id": "041011-2024-1",
      "value": {
        "amount": 520930.8,
        "currency": "GBP"
      },
      "status": "active",
      "awardID": "041011-2024-1",
      "dateSigned": "2023-09-01T00:00:00+01:00"
    }
  ],
  "initiationType": "tender"
}
Complete JSON history (1 releases)
19 Dec 2024 · 041011-2024 · award, contract
{
  "id": "041011-2024",
  "tag": [
    "award",
    "contract"
  ],
  "bids": {
    "statistics": [
      {
        "id": "1",
        "value": 1,
        "measure": "bids",
        "relatedLot": "1"
      }
    ]
  },
  "date": "2024-12-19T14:58:22Z",
  "ocid": "ocds-h6vhtk-04c9b0",
  "buyer": {
    "id": "GB-COH-06816271",
    "name": "NATIONAL WEALTH FUND LIMITED"
  },
  "awards": [
    {
      "id": "041011-2024-1",
      "status": "active",
      "suppliers": [
        {
          "id": "GB-COH-00973271",
          "name": "Canada Life Limited"
        }
      ],
      "relatedLots": [
        "1"
      ]
    }
  ],
  "tender": {
    "id": "C0434",
    "lots": [
      {
        "id": "1",
        "status": "cancelled",
        "options": {
          "description": "2 x 12 month extension options with a maximum end date of 31/08/2026"
        },
        "hasOptions": true,
        "description": "Group Income Protection Policy for NWF staff.",
        "awardCriteria": {
          "criteria": [
            {
              "type": "price"
            }
          ]
        }
      }
    ],
    "items": [
      {
        "id": "1",
        "relatedLot": "1",
        "deliveryAddresses": [
          {
            "region": "UK"
          }
        ],
        "additionalClassifications": [
          {
            "id": "66510000",
            "scheme": "CPV",
            "description": "Insurance services"
          }
        ]
      }
    ],
    "title": "Group Income Protection Policy",
    "status": "complete",
    "coveredBy": [
      "GPA"
    ],
    "legalBasis": {
      "id": "32014L0024",
      "scheme": "CELEX"
    },
    "description": "Provision of Income Protection Policy",
    "classification": {
      "id": "66510000",
      "scheme": "CPV",
      "description": "Insurance services"
    },
    "procurementMethod": "limited",
    "mainProcurementCategory": "services",
    "procurementMethodDetails": "Award procedure without prior publication of a call for competition",
    "procurementMethodRationale": "NWF appointed an insurance broker who it was thought had brokered a one year contract for this insurance on behalf of the NWF. This contract was below threshold value and no prior publication was required ahead of contracting. It has recently been uncovered it was a one year contract with 2 optional 12 month extensions and that the first extension has been taken. \nWe are therefore issuing a late award notice.",
    "procurementMethodRationaleClassifications": [
      {
        "id": "D_OUTSIDE_SCOPE",
        "scheme": "TED_PT_AWARD_CONTRACT_WITHOUT_CALL",
        "description": "The procurement falls outside the scope of application of the directive"
      }
    ]
  },
  "parties": [
    {
      "id": "GB-COH-06816271",
      "name": "NATIONAL WEALTH FUND LIMITED",
      "roles": [
        "buyer"
      ],
      "address": {
        "region": "UKE42",
        "locality": "Leeds",
        "postalCode": "LS14HR",
        "countryName": "United Kingdom",
        "streetAddress": "2 Whitehall Quay, Leeds"
      },
      "details": {
        "url": "https://www.nationalwealthfund.org.uk/",
        "classifications": [
          {
            "id": "BODY_PUBLIC",
            "scheme": "TED_CA_TYPE",
            "description": "Body governed by public law"
          },
          {
            "id": "04",
            "scheme": "COFOG",
            "description": "Economic affairs"
          }
        ]
      },
      "identifier": {
        "id": "06816271",
        "scheme": "GB-COH",
        "legalName": "NATIONAL WEALTH FUND LIMITED"
      },
      "contactPoint": {
        "email": "procurement@ukib.org.uk"
      }
    },
    {
      "id": "GB-COH-00973271",
      "name": "Canada Life Limited",
      "roles": [
        "supplier"
      ],
      "address": {
        "region": "UK",
        "locality": "Herfordshire",
        "countryName": "United Kingdom"
      },
      "details": {
        "scale": "large"
      },
      "identifier": {
        "id": "00973271",
        "scheme": "GB-COH",
        "legalName": "Canada Life Limited"
      }
    },
    {
      "id": "GB-FTS-5790",
      "name": "The Royal Courts of Justice",
      "roles": [
        "reviewBody"
      ],
      "address": {
        "locality": "London",
        "postalCode": "WC2A 2LL",
        "countryName": "United Kingdom",
        "streetAddress": "Strand"
      },
      "identifier": {
        "legalName": "The Royal Courts of Justice"
      }
    }
  ],
  "language": "en",
  "contracts": [
    {
      "id": "041011-2024-1",
      "value": {
        "amount": 520930.8,
        "currency": "GBP"
      },
      "status": "active",
      "awardID": "041011-2024-1",
      "dateSigned": "2023-09-01T00:00:00+01:00"
    }
  ],
  "initiationType": "tender"
}