This tender seeks a qualified insurance provider to underwrite a comprehensive Directors and Officers Liability Insurance policy for the Gauteng Enterprise Propeller. Coverage includes indemnity for board members and executive officers for a period of 36 months.
The Gauteng Enterprise Propeller (GEP) is inviting proposals from registered and experienced insurance service providers to source and underwrite a Directors and Officers Liability Insurance policy. This policy will cover 12 Board Members and 6 Executive Officers, both past and present, against claims arising from their decisions made in the course of their duties. The insurance coverage will include various aspects such as spousal liability, cyber losses, and indemnity up to a maximum of R25 million, with an annual premium that is VAT inclusive.
The selected service provider will be required to ensure that the policy does not exclude coverage for irregular, fruitless, or wasteful expenditure, while also providing protection against claims related to infectious diseases and pandemics. The insurance term will span from October 1, 2026, to September 30, 2029, and the service provider must demonstrate compliance with all regulatory requirements, including registration with the Financial Sector Conduct Authority (FSCA) and the Central Supplier Database (CSD). This tender represents an opportunity for insurance firms to engage with a significant public entity, providing essential coverage that supports governance and risk management.
This tender is suitable for registered insurance companies and brokers with experience in providing liability insurance, particularly those familiar with public sector requirements and compliance regulations.