Directors’ liability insurance for the MÁV Group

Summary

The procurement is for 36 months of directors’ and officers’ liability insurance for the MÁV Group and its designated subsidiaries. The indemnity limit is HUF 2 billion per insured event and insurance period. MÁV Pályaműködtetési Zrt. and MÁV Személyszállítási Zrt. share a HUF 2 billion sublimit; other directly or indirectly wholly owned subsidiaries have a sublimit of HUF 300 million per subsidiary, insured event and insurance period. The sublimit for insured costs is HUF 400 million per insured event and insurance period, capped at 20% of the relevant company sublimit. An insurance period is 12 months. Cover applies worldwide, except in the United States and Canada. Applicants must demonstrate relevant previous directors’ liability insurance experience: at least one qualifying contract with an annual insurance limit exceeding HUF 500 million. Tenders are evaluated on the best price-quality ratio: the annual insurance premium accounts for 90% and offering a dedicated contact person for the contracting authority accounts for 10%. No tender guarantee is required. The successful tenderer must hold a valid insurance business authorisation before the contract is signed. Participation requests and tenders must be submitted electronically in Hungarian.