TD-091/26 Management Liability Insurance

This tender, originating from Greece, concerns the procurement of 'Management Liability Insurance' (Ασφάλιση Ευθύνης Στελεχών Διοίκησης). The contracting authority is seeking to acquire comprehensive insurance coverage to protect its management personnel against claims arising from their duties. This type of insurance, often referred to as Directors and Officers (D&O) liability insurance, typically covers legal defense costs and potential settlements or judgments resulting from alleged wrongful acts, errors, or omissions in the management of the organization. Bidders are expected to be reputable insurance providers with a strong track record in offering such specialized policies. Key requirements will likely include the scope of coverage, policy limits, deductibles, claims handling procedures, and the financial stability of the insurer. The tender documentation will detail the specific risks to be covered, the period of insurance, reporting requirements, and the criteria for evaluating proposals, which will likely focus on the comprehensiveness of the coverage, the reputation of the underwriter, and the premium cost. This is a critical risk management procurement for the contracting authority.