Financial and insurance services

Tender description

The London Borough of Bromley is seeking tender submissions for annual insurance cover commencing from the 1.5.2019 under a long term agreement (LTA) for a minimum period of 5 years with the option to extend fora further 3 years at the Authority's sole discretion. The following lots are being tendered: Lot 1: Property (Comprising General/Educational/Commercial and Industrial Properties and Works in Progress); Lot 2: Fidelity Guarantee; Lot 3: Casualty/Liability; Lot 4: Motor Fleet and Motor ULR/Legal Expenses; Lot 5: Engineering Insurance and Inspection; Lot 6: Group Personal Accident and Travel; Lot 7: Terrorism — First Loss (A Pool Re quotation is also required under Lot 1). LOT 1 – Property Insurance (excluding Broker Services) This Lot incorporates the following classes of business: Material Damage — General (Including Lownds Court, Bromley – Residential property) — Education — Specified All Risks — Works in Progress (All Risks) — Commercial and Industrial Properties Business Interruption — Additional Expenditure/Increase Cost of Working — Loss of Rent LOT 2 – Fidelity Guarantee Indemnity in respect of loss of money, property and or goods belonging to the insured, or held in trust by them or for which they are responsible caused by an act of fraud or dishonesty committed by any person guaranteed during the period of insurance with the principle intent:  To cause the insured to sustain such loss, and  To obtain financial benefit for the employee, or any other person or organisation intended by the employee to receive such benefit, other than salaries or salary increases, commissions, fees, bonuses, promotions, awards, profit sharing or other employee benefits earned in the normal course of employment. Third Party Computer or Funds Transfer Fraud The theft of money, securities or other property by computer fraud, or the theft of the insured’s funds from their transfer account at a financial institution through fraudulent transfer instructions communicated to such financial institution. LOT 3 – Liability Indemnity in respect of all sums which the Insured may become legally liable to pay as damages and claimants costs and expenses in respect of injury, including death, illness and disease caused during the period of insurance to any employee arising out of and in the course of employment by the Insured in the business within the geographical limits. Including all costs and expenses:- • in defending any claim for damages • for representing at any coroner's inquest or fatal inquiry or court of summary jurisdiction in respect of any occurrence • in defending any proceedings in respect of any act or omission or alleged breach of statutory regulations causing or relating to the event LOT 4 – Motor Fleet Insurance including Uninsured Loss Recovery LR and Legal Expenses (excluding Broker Services)  Motor Fleet LOT 5 – Engineering Inspection (excluding Broker Services) LOT 5 incorporates the following classes of business:  Engineering Inspection LOT 6 – Group Personal Accident and School Journey Insurance (excluding Broker Services) This Lot incorporates the following classes of business:  Personal Accident  School Journey LOT 7 – Terrorism Insurance (excluding Broker Services) This Lot incorporates the following classes of business:  First Loss Terrorism Cover