📑Discretionary Mutual Management Services
Procurement process summary
This process is to purchase Discretionary Mutual Management Services.
This contract was awarded by 🇬🇧 Fire and Rescue Indemnity Company Ltd for an amount of GBP 10,000,000 to 1 supplier. It was published on 2019-03-22 through open
Transparency in this process is reflected in the detailed publication of all aspects of the contract and its results.
Buying entity🇬🇧 Fire and Rescue Indemnity Company Ltd Buying unitnot reported Publication date2019-03-22 Contest statusnot reported DescriptionHampshire County Council is tendering on behalf of the Fire and Rescue Indemnity Company Limited (FRIC) in order to find a suitable Provider to deliver Management Services for the FRIC's Discretionary Mutual. The suitable provider will manage a discretionary pooling of funds. This process is a recognised alternative to conventional insurance. When the size of each body is not sufficiently large to carry the risk of a large policy deductible or excess these cost saving benefits can be achieved through a discretionary pool. The discretionary element is a legal device to ensure that the arrangement is not treated as an insurance company, thereby requiring significant working capital to be deposited.Awards
This award was granted to Regis Mutual Management Ltd by Fire and Rescue Indemnity Company Ltd for an amount of GBP 10,000,000. The procurement process was conducted through open for the category of services. The award was granted on 2019-02-20. This is award number 1.
| Supplier | Amount | Award date | Award number |
|---|---|---|---|
| 🇬🇧 Regis Mutual Management Ltd | GBP 10,000,000 | 2019-02-20 | 1 |
Market context and opportunities
The execution of this contract allows the entity Fire and Rescue Indemnity Company Ltd to fulfill its public service objectives efficiently.
The open purchase modality ensures that the process is transparent and compliant with regulations.
Transparency in this process is reflected in the detailed publication of all aspects of the contract and its results.
This transparency in public procurement promotes fair competition, prevents corruption, and ensures that public resources are used efficiently for the benefit of citizens.
Additional data
Contract NumberUK_ocds-70d2nz-657137a8-d7f3-4110-b061-e0190191228f-award-1Publication date2019-03-22Contract datenot reportedAward date2019-02-20CategoriesservicesPurchase modalityopenMethod detailspt_openStatusnot reportedData sources
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