Risk, Finance & Insurance Services

Details

Callaghan Innovation's insurance portfolio is due for renewal in November 2021. We are looking for the right broker from the AOG Panel to help us in completing this renewal and develop a long-term relationship in helping manage our risk profile and insurance coverage.

Callaghan Innovation has experienced steady insurance premium increases in recent years, driven by several factors including:

1. Tighter insurance market conditions, in the Wellington region particularly, reducing the ability to influence pricing;
2. Steady increases in valuations for the Material Damage policy, from both continued capital investment and increases in construction costs; and
3. Callaghan Innovation’s A block fire claim negatively impacting our risk profile.

Factors 2 and 3 are likely to persist for the medium term, creating further upwards pressure on premiums. Against this backdrop, and a changing Gracefield site, we are examining our insurance settings within our broader risk model as part of this 2021 renewal. This creates an opportunity to manage premiums and ensure insurance principles and settings are more effectively integrated into our risk management model.

This is a Future Procurement Opportunity (FPO). A FPO has replaced the Annual Procurement Plan information previously available to suppliers on MBIE’s website. A FPO is an alert to suppliers of potential upcoming procurement activity. It does not represent a commitment to procure but provides an indication to the market about the potential future activity.

Suppliers can subscribe to this FPO. If an RFx is to be released, the FPO will be linked to the RFx. We intend on using a closed tender process with AOG Panel suppliers only who will be invited directly to participate.

No information is required to be submitted in response to this FPO. Questions may be directed to the point of contact. Please note however, due to where we are in our planning there is limited further information available.