Freedom Park seeks an experienced insurance broker to provide comprehensive three-year short-term insurance cover, including risk assessment, premium negotiation, and claims administration. Covered assets total approximately R847 million, with bidders required to be CSD-registered and FSCA-licensed.
Freedom Park, a statutory agency responsible for the national heritage memorial and monument in Salvokop, Pretoria, invites bids from qualified and experienced insurance brokers to provide comprehensive short-term insurance cover for a period of three (3) years. The appointed broker will be responsible for risk assessment and recommendation of the cover required, negotiation of insurance premiums with a reputable insurance provider, and the management and administration of all risk cover. The scope includes general insurance administration such as compiling a claims procedural manual, handling day-to-day correspondence and queries, keeping the agency informed of changes to insurance legislation, maintaining an electronic claims management system, and attending site meetings for large or potentially large claims.
The insurance portfolio to be placed is substantial. Fixed assets, including buildings, contents, machinery, artwork, library material, motor vehicles, computer equipment and infrastructure, are currently insured for a combined value of approximately R847 million, to be covered on an all-risk basis at gross replacement value. Additional required covers include business interruption, employment practices liability (R1 million limit), directors and officers liability, fidelity guarantee and commercial crime (including computer fraud), group personal accident, cyber liability, heritage assets (estimated R8 million), riot and strike cover through SASRIA, events liability (estimated R30 million), and comprehensive motor fleet cover for three vehicles. Claims history is provided as part of the tender documents to inform the broker's proposal.
Bids are evaluated in three phases. Phase 1 assesses mandatory requirements, including FSCA registration with RE1 and RE5 FAIS certificates, a valid CSD report, tax compliance status, a B-BBEE certificate, financial statements and CIPC documents. Phase 2 is a functionality evaluation with a 75% minimum qualifying threshold, scored on company experience (20 points), references for comparable short-term insurance brokerage with insured values (20 points), the claims management process (30 points), and the CVs of key personnel including a Director with at least 15 years of industry experience and a Claims Manager with at least 10 years (30 points combined). Phase 3 evaluates price, which is a broker fee in VAT-inclusive terms with annual CPI escalation, alongside specific goals under the Preferential Procurement Regulations. Bidders must be registered on the Central Supplier Database, and a compulsory briefing session is not required. The closing date is 20 November 2026 at 11:00, and bids remain valid for 120 days.
Licensed insurance brokers and financial service providers registered with the FSCA (with RE1 and RE5 FAIS certification) and listed on the CSD, particularly those with experience in short-term insurance for public entities or large asset portfolios exceeding R300 million. Firms with established claims management systems, a track record in heritage, cultural or museum sector insurance, and senior personnel meeting the stated experience thresholds are best placed to compete. Small brokers without the required references or key personnel should consider partnering with a qualified insurer or consortium, noting that joint ventures must provide separate tax and CSD documentation for each party.
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