Punjab National Bank D&O Liability Insurance Tender Central Delhi 2026 - Director & Officer Coverage IS 550/ISO Standards

Tender Overview

The opportunity is issued by Punjab National Bank for Director & Officer (D&O) liability insurance coverage located in Central Delhi, Delhi 110002. The scope centers on purchasing liability insurance for bank directors and officers, with no BOQ line items released. The buyer’s ATC allows a potential scope adjustment of up to 25% in quantity or duration for lump-sum service contracts, subject to provider consent. Key documents to accompany bids include a Nil Deviation Declaration Letter, Covering Letter, Undertaking, and an Authorized Signatory certificate. This procurement requires bidders to align with the bank’s governance and risk controls for D&O coverage, ensuring policy terms meet regulatory expectations.

Technical Specifications & Requirements

• Product/service: Director & Officer liability insurance for Punjab National Bank. No numeric policy limits or coverage details disclosed in the tender data.
• Delivery/execution context: Insurance coverage to be procured through a lump-sum service contract with up to 25% scope adjustment permitted.
• Documentation: Bidder must submit: Nil Deviation Declaration Letter, Covering Letter, Undertaking, and Authorized Signatory certificate; additional supporting documents as required by the bank’s terms and ATC.
• Compliance notes: Align with standard insurance procurement practices and bank risk management expectations; ensure readiness to provide policy terms on request.

Terms, Conditions & Eligibility

• EMD/financial guarantee: Not specified in the provided data; bidders should verify exact requirement in the ATC.
• Quantity/duration flexibility: Contract scope may be increased by up to 25% at contract issue; prior consent required for scope expansion.
• Submission requirements: Include Nil Deviation Declaration Letter, Covering Letter, Undertaking, and Authorized Signatory certificate; ensure bidders’ signatories are legally empowered.
• Other: Adherence to banking sector risk controls and regulatory compliance for D&O liability insurance procurement.