Risk Management Partners’ specialist RMP Education team has entered a long-term partnership with London Universities Purchasing Consortium (LUPC) to provide various insurance, claims handling and risk control services.
The new strategic partnership comes after a tendered public procurement exercise led by LUPC. RMP Education will provide cover for property, casualty, excess of loss, engineering, contract works and computer risks for the consortium, which is composed of over 30 universities and other not-for-profit organisations, including several major research-intensive Russell Group universities. All lines are backed by A-rated capacity, with the initial three-year agreement extendable by two more years, RMP said.
As part of the deal, all LUPC’s insurance group members will gain unlimited access to the RMP Academy. This is a platform that contains a comprehensive online documents library and allows the sharing of best practices, structured risk management advice, and bespoke training and education sessions. RMP Academy will focus on key risks and exposures for higher education institutions, which include business continuity planning, business interruption, fire engineering and fire safety.
“Universities are large, complex organisations whose research and teaching work contributes enormously to societal advances and economic development,” said Michael Barnes, education director at RMP. “That means their risk and insurance needs are similarly complex and best served through a sustainable business partnership. We relish the prospect of working closely with LUPC members over the years to come – using our specialist expertise and experience as a leading provider in the sector to find and devise solutions to their risk challenges. By fully exploring and understanding their emerging and evolving exposures we can ensure these are managed, mitigated and transferred effectively.”
LUPC is a member-owned not-for-profit organisation established in 1968. Its stated purpose is to achieve value for money in the procurement of goods and services in a way that benefits its members, society and the economy, while minimising damage to the environment.
“In our new insurance provider, we were looking for stability and security – a long-term partner where risk management and client-focused claims handling were just as central to the proposition as sustainable and cost-effective insurance covers,” said Mike Kilner, senior category manager at LUPC. “From early on in the process, it was clear that in RMP we had found a like-minded organisation, focused on genuine partnership working, which will support our members in their own risk mitigation and control activities. RMP shares our appetite for collaboration, best value and solutions-focused services, and we are very pleased to be in partnership with them.”