The RTMC seeks a qualified service provider to deliver comprehensive short-term insurance services for a three-year period, with an option to extend for two additional years. Key requirements include managing motor fleet self-insurance and comprehensive asset coverage.
The Road Traffic Management Corporation (RTMC) is inviting bids for the provision of short-term insurance services, aimed at ensuring adequate coverage for its motor fleet and various assets. The successful bidder will be responsible for managing a self-funded deductible arrangement, where RTMC will cover motor losses up to a specified threshold, while the insurer provides catastrophic and excess loss cover. This arrangement requires a thorough understanding of risk management and claims administration, as well as the ability to negotiate annual premium reviews based on objective underwriting considerations such as claims experience and market conditions.
In addition to motor fleet coverage, the service provider will be expected to offer comprehensive insurance for non-motor assets, including electronic equipment, property damages, and public liability. The scope of work includes regular risk assessments, claims management, and the provision of value-added services, such as risk engineering and loss prevention advice. Bidders must demonstrate their capability to deliver high-quality service, with a focus on effective communication and performance monitoring to ensure compliance with RTMC's standards.
This tender is suitable for licensed insurance providers, brokers, and financial services firms with experience in managing comprehensive insurance portfolios, particularly those familiar with public sector requirements and self-insurance models.
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