Grove Business Park
Stand Number : B7
ESPO helps Oxleas NHS Foundation Trust save 54% on property insurance
Oxleas NHS Foundation Trust required a commercial insurance policy to provide cover to top up their NHS Litigation Authority Property Expenses Scheme (NHSLA PES) insurance arrangements.
The trust undertook a further competition under lot two (multi supplier brokerage) of the Insurance Services framework agreement to appoint a broker. The scoring criteria used by the trust was 30% quality and 70% price, placing a real importance on price given the current economic conditions.
Griffiths and Armour (G&A) was the successful supplier following the further competition as they demonstrated real best value for money for the trust.
Once appointed, G&A liaised with the trust to prepare a risk presentation, which was then submitted to all capable insurers.
The tender results were evaluated and G&A provided the trust with a full recommendation report outlining the various cover options and explaining the grey areas between NHS Litigation Authority risk pool with the cover available from commercial insurers.
Via G&A’s Entrust proposition the trust were in a position to place the existing covers at a 54% premium saving, including additional benefits such as a warranty free policy, and a three year fixed rate premium deal.
The trust was also presented with alternative options to extend the existing covers to include Notifiable Diseases and Loss of Revenue. The exercise also revealed numerous other risks not previously considered by the trust, such as Loss of Rent, Contract Works, Group Personal Accident, Travel, Income Generation Activity, Public/Products Liability and Professional Indemnity, Directors’ and Officers’ Liability and Charity Trustee Indemnity.
G&A undertook a robust evaluation process providing the trust with a detailed recommendation report allowing the trust to concentrate on their core activities.
The exercise also reduced the trust’s tender time by three months.