Insurance Brokerage Services

***THIS OPPORTUNITY IS CLOSED. THIS IS A CONTRACT AWARD NOTICE***

The Financial Reporting Council sets the UK accounting, audit and actuarial standards and administers the Corporate Governance and Stewardship Codes. As the competent authority for audit in the UK the FRC sets auditing and ethical standards and monitors and enforces audit quality. The FRC works in the public interest. Our work is aimed at investors and others who rely on company reports, audit, and high-quality risk management.

The Financial Reporting Council is committed to

• supporting the creation of a new regulator, the Audit, Reporting and Governance Authority (ARGA), which will be a strong and fit for-purpose regulator and provide increased confidence in the UK market.

• Protecting and improving audit and reporting quality.

• Making company reporting fit for the future.

• Supporting the creation of the audit of the future

• Ensuring that the world-leading UK Corporate Governance and Stewardship Codes make the UK a great place to do business, helping support Covid-19 recovery and UK prosperity.

We also monitor and take action to promote the quality of corporate reporting and operate independent enforcement arrangements for accountants and actuaries. Further information about our role can be found at www.frc.org.uk.

This Notice was related to our Insurance Brokerage Services Project.

The FRC appointed a registered insurance broker/broker firm to procure competitive insurance covers and premiums, net of broking commission. Schedule A contains details of the wide portfolio of insurances maintained by the FRC. The appointed broker will be providing the following services: -

• advice and assistance as required on all aspects of the FRC's insurance needs;

• advice on, and negotiation of, renewal terms and premiums for the policies detailed in Schedule A;

• advice on the levels of cover held and/or indemnities to be maintained under these policies;

• advice and assistance on the processing of claims.

Full details are available in the attached Invitation to Tender (ITT) and associated documents.