Insurance requirements

The cover a supplier must hold to bid or sign, usually commercial general liability, professional liability (errors and omissions) and sometimes cyber insurance, at stated minimum amounts.

Also called: Professional indemnity, Errors and omissions

Related terms

Mandatory requirement

A pass-or-fail condition a bid must meet to be scored at all, such as a certification, insurance level or minimum years of experience. Missing one means the bid is rejected unread.