Directors and Officers Indemnity Insurance Brokerage

The Limpopo Roads Agency is inviting bids for the appointment of a qualified insurance broker to facilitate the procurement of Directors and Officers Indemnity Insurance. This insurance is crucial for protecting the agency's board members and executive officers against potential liabilities arising from their decision-making roles. The selected broker will be responsible for sourcing a policy that provides a minimum coverage amount of R500 million, ensuring that all past and present directors, as well as executive officers, are adequately protected. The contract will span 36 months, during which the broker will need to demonstrate their capacity to manage and negotiate with registered short-term insurance providers effectively.

Bidders must possess a valid license from the Financial Sector Conduct Authority (FSCA) and demonstrate experience in providing similar insurance brokerage services to state-owned entities or government departments. The scope of work includes sourcing insurance covers, providing risk management advice, and ensuring compliance with all relevant regulations. The successful bidder will play a pivotal role in safeguarding the agency's leadership against legal claims, thereby enhancing the operational integrity and reputation of the Roads Agency Limpopo.