Liability Insurance Service - Director and Officer Liability Coverage

Liability Insurance Service - Director and Officer liability coverage

Service
Qty:NaN

Tender Timeline

Tender Issue
June 4, 2025 at 4:24 PM
Corrigendum
June 13, 2025 at 04:28 PM
Bid Extended to June 25, 2025 at 01:00 PM

Tender Description

Tender Title: Liability Insurance Service - Director and Officer Liability Coverage

Reference Number: 2a653004

Issuing Authority: Ministry of Finance, Banking Sector

The Liability Insurance Service - Director and Officer Liability Coverage tender promotes the protection of corporate directors and officers against personal losses. This essential service is specifically tailored for firms navigating the complexities of maintaining compliance and mitigating risks within their operational environments.

Scope of Work and Objectives

The objective of this tender is to provide comprehensive liability insurance coverage for directors and officers, focusing on safeguarding them from claims of wrongful acts such as mismanagement, breaches of fiduciary duty, and other forms of liability that may arise in their capacity as company leaders. The scope includes evaluating current coverage levels, customizing policy terms, and ensuring alignment with regulatory requirements.

General Information

Item Category
Liability Insurance Service - Director and Officer liability coverage
Ministry Name
Department Name
Organisation Name
State

Financial Information

Bid Offer Validity
90 (Days)

Evaluation and Technical Information

Evaluation Method
Total value wise evaluation
Inspection Required
No
Technical Clarifications Time
2 Days

Tender Documents

4 Documents
GeM-Bidding-7927848.pdfMain Document
Other DocumentsOTHER FINANCIAL
Buyer uploaded ATC documentATC ATC
GEM General Terms and Conditions DocumentGEM_GENERAL_TERMS_AND_CONDITIONS

Documents Required from Seller

  • Experience Criteria
  • Bidder Turnover
  • Certificate (Requested in ATC)
  • Additional Doc 1 (Requested in ATC)
  • Additional Doc 2 (Requested in ATC)
  • Additional Doc 3 (Requested in ATC)
  • Additional Doc 4 (Requested in ATC) *In case any bidder is seeking exemption from Experience / Turnover Criteria
  • the supporting documents to prove his eligibility for exemption must be uploaded for evaluation by the buyer

Corrigendum Updates

Bid Extended to June 25, 2025 at 01:00 PMModified on June 13, 2025 at 04:28 PM
Bid Opening June 25, 2025 at 01:30 PM

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Frequently Asked Questions

The eligibility requirements include being a registered insurance provider with applicable licenses, alongside demonstrating at least three years of experience in offering liability insurance services. Bidders should ensure they possess the necessary certifications to practice in the insurance sector and stay compliant with local regulations.

Interested bidders must submit valid copies of relevant licenses and certifications that demonstrate expertise in the field of liability insurance. These may include proof of registration with recognized insurance regulatory authorities and any specific qualifications that support their capability to deliver comprehensive coverage for directors and officers.

The registration process for this tender involves registering on the official procurement portal specified in the announcement. Bidders should complete all required fields, submit relevant credentials, and provide supporting documents in the accepted formats to ensure their eligibility in the evaluation process.

For this tender, the accepted document formats typically include PDF and Word files for proposals, alongside scanned copies of certificates and licenses proving eligibility. All submissions should be legible and formatted correctly as per the guidelines outlined in the tender document.

Bidders may be required to furnish a performance security upon contract acceptance, which generally amounts to a specified percentage of the total contract value. This security ensures compliance with the contractual obligations and safeguards against potential defaults during the execution of the liability insurance services.

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