Risk Management Partners secures multi-year deal with London Universities Purchasing Consortium

RMP Education will provide the LUPC Insurance Group’s 30-plus member universities and other not-for-profit institutions with a broad range of tailored covers, claims handling and risk control services through a new long-term strategic partnership

Risk Management Partners (“RMP”) today announces that its specialist education team, RMP Education, has entered into a long-term partnership with London Universities Purchasing Consortium (“LUPC”) to provide its Insurance Group (IG) membership with a broad range of insurance covers, claims handling and risk control services.

The new strategic partnership, which follows a tendered public procurement exercise led by LUPC, will see RMP Education provide cover for property, casualty, excess of loss, engineering, contract works and computer risks for the consortium of over 30 universities and other not-for-profit organisations, which includes several major research-intensive Russell Group universities. All lines are backed by A-rated capacity[i], with the initial three-year long-term agreement, extendable by a further two years, commencing August 2022.

The new partnership will provide all IG members with unlimited access to the RMP Academy, a platform facilitating the sharing of best practice, structured risk management advice, bespoke training and education sessions, and a comprehensive online documents library. The Academy will focus on the key risks and exposures for higher education institutions and include work on business continuity planning and business interruption as well as fire engineering and fire safety.

Established in 1968, LUPC is a not-for-profit organisation owned by its members for its members with a purpose 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.

Established in 1994, RMP is a specialist public sector and higher education MGA, and part of Pen Underwriting. With over 25 years of experience serving not for profit organisations in the UK and Europe, RMP set up its dedicated education team eight years ago and has since built a large portfolio of more than 70 universities and higher education institutions.

Michael Barnes, Education Director at RMP, said:

“We are absolutely delighted to have been appointed by LUPC as its core provider of insurance, risk control services and claims handling. Universities are large, complex organisations whose research and teaching work contributes enormously to societal advances and economic development. 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.”

Mike Kilner, Senior Category Manager at LUPC, said:

“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. 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.”

Nick Colyer, CEO of RMP, added:

“Being appointed to the prestigious LUPC account, which represents so many world-class, research-driven organisations, is testament to RMP’s ongoing commitment to the higher education sector and the substantial portfolio our dedicated team has built and looked after in this sector. A fantastic example of multiple disciplines and specialists pulling together to create a tailored proposition that addresses the diverse risk needs of our clients.”