Broker for Directors and Officers Indemnity Insurance.
Dinala Matsobane
In plain English
The Roads Agency Limpopo is seeking a broker to source directors and officers indemnity insurance from registered short-term insurance providers. Bidders must be registered on the Central Supplier Database (CSD).
Always check the official documentDescription
Roads Agency Limpopo (RAL) invites bids for the appointment of an insurance broker to secure Directors and Officers Indemnity cover. The project covers seventy-six past and present officials for a period of thirty-six months. The broker must source insurance coverage totaling R500 million to protect against civil litigation, legal fees, and errors in decision-making. The work will be performed in Polokwane. Bidders must provide a detailed project plan and demonstrate experience in providing brokerage services to government entities or state-owned companies. The contract requires a firm pricing structure for the first year of service.
What you need to qualify
- CSD registration — Registration on the Central Supplier Database — required to do business with government.
- Letter of Good Standing — COID registration and a Letter of Good Standing from the Compensation Fund.
- Other registration — An industry registration the tender requires (e.g. PSIRA, NHBRC, a professional or trade licence).
Full requirements
- Registered on the Central Supplier Database (CSD)
- Valid FSCA license for non-life insurance products
- Registered with the South African Insurance Association
- Proof of Intermediary Guarantee Facility of at least R50,000,000
- Professional indemnity and Fidelity Guarantee cover of at least R150,000,000 each
- Letter of good standing from the Prudential Authority
- Annual disclosures report per the Insurance Act
- Audited Annual Financial Statements for the past three years
- Proof of insurer capacity confirmation
Contact & how to apply
Name: Dinala Matsobane
Email: dinalamr@ral.co.za
Phone: 015-284-4628
How to apply: Submit two original hard-copy documents to the tender box at RAL Towers, 26 Rabe Street, Polokwane, 0700, or via post to Private Bag X9554, Polokwane, 0700. Faxed or emailed submissions are not accepted.
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