# Council Insurance Premiums

> Contract award record from UK public-sector procurement sources.

## Key facts

- Public buyer: [Isle of Wight Council](/buyers/isle-of-wight-council/contract-awards)
- Contract winner: Travelers UK
- Award value: £1,458,825
- Tender value: £1,458,825
- Award date: 31 March 2024
- Published: 25 June 2024
- Contract start: 1 April 2024
- Contract end: 31 March 2025
- Stage: awarded
- Procurement category: services
- Notice ID: 0ee5d48c-497e-4118-8b5c-6e400cc09ec8-761863
- OCID: ocds-b5fd17-939dc65e-c54a-4cfb-ad13-447c072e2272

## Description

Council Insurance Premiums from 1 April 2023 until 31 March 2025 \(2 year's premiums\)\. The value paid for premiums in 2023/24 was £751723\.08 and the value of the premiums for 2024/25 is £805712\.47\. The Authority has a long term agreement with the supplier that should have been in place until 31/03/2025 however due to miscommunications that contract did not include the 2 year extension agreement\. This only came to light after the contract had ended last year so we were unable to modify it before it expired\. The value paid for premiums in 2023/24 was £751723\.08 and the value of the premiums for 2024/25 is £805712\.47\. It should be noted that premiums are paid via our Broker - Marsh Ltd\. A VEAT was published \(2024/S 000-018183\) and the Authority observed a 10 day standstill period that ended at midnight on 24 June 2024\. Additional information: Any values given cover the period 01/04/2023 to 31/03/2025\.

## Related contract awards

- [The Provision of Fuel Cards](/contracts/ocds-b5fd17-da8fb6ac-9147-4a15-92c8-d663ac644b11): Isle of Wight Council
- [Lot 1 - Apprenticeship Training - Occupational Therapist Level 6](/contracts/ocds-b5fd17-c1eb9ff0-e857-48da-b135-d8d8884ceced): Isle of Wight Council
- [Lot 1 - Apprenticeship Training - Social Worker Integrated Degree Level 6](/contracts/ocds-b5fd17-514d3d65-1c45-494c-8223-0805d9bdc71b): Isle of Wight Council
- [Further Competition for Insurance for Durham County Council under the Yorkshire Purchasing Organisation \(YPO\) Insurance Placement Dynamic Purchasing System \(DPS\) Ref: 000978](/contracts/ocds-b5fd17-ab44e9a0-bd0c-447d-aaa4-f653a6a173b0): Durham County Council

## Source

[View the original notice on Contracts Finder](https://www.contractsfinder.service.gov.uk/Notice/0ee5d48c-497e-4118-8b5c-6e400cc09ec8-761863)