Directors’ and officers’ liability insurance policy

Summary

The tender seeks a directors’ and officers’ civil liability insurance policy for Mutual Midat Cyclops. The policy must cover claims alleging civil liability of insured persons and include, among other things, insured persons’ defence costs in formal investigations and reimbursement to the company. The technical specification sets a limit of €10,000,000 per claim and insurance period, plus an additional €3,000,000 limit for non-executive directors. Worldwide territorial coverage excludes the United States and Canada; the insured cover is limited to civil-liability-generating acts committed in Spain and recognised by Spanish courts. Initial sublimits for additional covers include €2,000,000 for fines and sanctions, €1,000,000 for crisis and reputation-protection costs, and €1,000,000 for risk-management expenses. The administrative conditions provide for an initial one-year term and one possible one-year extension. However, the economic offer form describes the initial period as 565 days, while its price table covers 1 January to 31 December 2027. The initial-period budget ceiling is €60,000 and the estimated total value, including the extension, is €120,000. The insurance is VAT-exempt, but the price must include all taxes and charges associated with the premium. Evaluation awards up to 80 points for price and up to 20 points in total for improvements to eight policy sublimits. Bidders must demonstrate annual turnover of at least €90,000 and experience providing comparable services worth at least €42,000 in the year of highest performance during the last three years. The bidder must also be an insurer registered and authorised for the relevant insurance class.