Insurance Services · UK public procurement notice

Contracts

• Insurance Services · Marsh Ltd

  Signed

  21 Apr 2023

  Value

  £648,064

  Status

  active

  • Change This Modification Notice relates to the extension of the existing Insurance Provision contract. Having sought advice, to meet our statutory regulatory requirements as a Registered Social Landlord, these public contracts shall be modified and awarded under Regulation 72 (1) (c) utilising the Modification of contracts during their term “by circumstances Clydesdale Housing Association (CHA) could not have foreseen”. The insurance market for social housing providers has always been quite restricted, however in the field of property and liability this has hardened severely and quickly since the start of 2023. This has been accelerated by the departure of two main insurance providers to the Sector over the last 6 months, meaning the already limited capacity is much reduced. This has resulted in unsustainable market conditions, and we have seen insurers react this year applying significant rate increases on Renewals during the first quarter of 2023. CHA intend to go out to the marketplace for a new contract for Insurance Provision and this procurement process will commence 2025 Q3 with a target effective date contract date of 1st April 2026., Need for modification brought about by circumstances which a diligent contracting authority/entity could not foresee: This informed decision based on; the ongoing insurance marketplace uncertainty reflective of the post-Brexit economic environment, the far-reaching impact of the war in Ukraine, recent challenges faced by RSL’s relating to all services, and the current cost-of-living pressures; while concurrently seeking to ensure effective continuity of our insurance services to meet our statutory regulatory requirements.

Dispute resolution & review bodies

• Glasgow Sheriff Court and Justice of the Peace CourtReview body Glasgow