Liability Insurance Service - Director and Officer Liability Coverage
Liability Insurance Service - Director and Officer liability coverage
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Tender Description
Tender Title: Liability Insurance Service - Director and Officer Liability Coverage
Reference Number: b146781f
The Department of Telecommunications (DOT) under the Ministry of Communications is inviting bids for the provision of Liability Insurance Service specifically designed for Director and Officer Liability Coverage. This tender aims to obtain reliable and comprehensive insurance solutions to protect the interests and responsibilities of board members and officers against potential liabilities arising during the execution of their duties.
Scope of Work and Objectives
The primary objective of this tender is to engage a qualified insurance provider to deliver robust liability insurance coverage that ensures adequate protection for Directors and Officers. The services should encompass coverage against claims made for wrongful acts, breach of duty, errors, and omissions in their capacity as corporate officials.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
5 DocumentsDocuments Required from Seller
- 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
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Frequently Asked Questions
The eligibility requirements include being a registered entity recognized by the relevant authorities. Bidders should possess prior experience in providing Liability Insurance Services and demonstrate financial stability through audited financial statements. Compliance with local laws and regulations is mandatory, along with certifications relevant to insurance services.
The technical specifications encompass a comprehensive understanding of coverage limits, the scope of protected activities, exclusions, and claims procedures. Bidders should provide a detailed description of their policies’ quality standards and ensure that their offerings comply with industry norms and regulations.
The submission process requires bidders to adhere to specific formats while submitting their proposals. Key documents include eligibility certificates, technical specifications, financial quotes, and any additional compliance or legal documentation required by the issuing authority.
Bidders must include an Earnest Money Deposit (EMD) that serves as a security measure for their bids. Further details regarding the amount, accepted payment methods, and conditions for refunding the EMD will be specified in the tender documentation, ensuring adherence to regulations.
Yes, provisions are made for Micro, Small, and Medium Enterprises (MSEs), aimed at encouraging their participation in the bidding process. MSEs may be offered advantages such as preference in evaluation, reduced bid criteria, and assistance in the documentation process to foster competitive bidding while supporting local businesses.
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