Source: https://tendernation.io/opportunities/01a13c49-ecfb-7191-b7be-5c60eaae7b0a/residential-leasehold-shared-ownership-mortgaged-properties-insurance-scheme awarded GB open procedure Suitable for SMEs # Residential Leasehold, shared ownership & mortgaged properties insurance scheme [London Borough of Hillingdon](https://tendernation.io/buyers/london-borough-of-hillingdon) Estimated value £1,400,000 Published 26 Jul 2019 Deadline Closed 15 Oct 2018 ## Who can bid - Buyer says suitable for SMEs The buyer ticked “suitable for SMEs” on the notice. Anyone can still bid. - Buyer says suitable for VCSEs The buyer ticked “suitable for voluntary, community and social enterprises” on the notice. - Open procedure Anyone can submit a full tender; there is no shortlisting stage. [More contracts for small businesses and VCSEs](https://tendernation.io/opportunities/for-small-businesses) ## About this tender The London Borough of Hillingdon are seeking a suitable qualified and competent insurance scheme provider for residential leasehold, shared ownership and mortgaged properties Each of the Residential Buildings insured will be treated as if it is insured by a separate policy. The Council has a financial/insurable interest in these properties, in most cases as the freeholder. A standard clause in all the leases imposes a responsibility upon the Council to arrange the buildings insurance. The insurance cover is required for Communal Parts - Tenderers need to be aware that leaseholders are responsible, under the terms of their lease, for contributing to the cost of communal/shared works to deal with insured perils, and that this responsibility should be reflected in the buildings insurance arrangements. It is desirable that the Policy should not be subject to Average. Copies of policy wording, examples of policy booklets/schedules for circulation at inception of scheme and annual summary of cover documentation should be provided and a flexible approach to underwriting is desirable. Ease of Administration is desirable, such as the requirements for declarations and the notifications of new properties. The policy operates with a common renewal date. ### COVER REQUIREMENTS Insured: London Borough of Hillingdon and their respective leaseholders and/or freeholders and/or part owners. Automatic interest of the freeholder and the head lessee of the residential property (if they are not the policyholder), the owner or lessee of each residential property and the mortgagee of any of them are deemed to be automatically noted. Covering: Residential Leasehold Properties, Shared Ownership and Mortgaged Properties in London Borough of Hillingdon and Freeholders with a London Borough of Hillingdon Mortgage. ### SUMMARY OF COVER REQUIRED - Insurance and Claims handling in respect of: - Material Damage cover for 'All Risks' of accidental physical loss or damage to the properties insured, including Terrorism. - Loss of Rent /Alternative accommodation - Property Owners Liability - Limit of indemnity £5,000,000 - Legal Expenses - Limit of indemnity £10,000 - Claims Handling arrangements ### B.Material Damage For any Leasehold, Mortgaged or Equity Share residential/and or commercial property including the landlord's contents and common parts. Buildings Perils: - Full detailed requirements in the Specification Read full description ## CPV classification Property insurance services Source Contracts Finder (UK) [View official notice](https://www.contractsfinder.service.gov.uk/notice/e87e6d39-1417-4baa-bf93-3b55232bc85f) Never miss a tender like this again Get AI summaries, deadline alerts and a bid pipeline for tenders matched to your business. Free to start. 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