CLS launches public procurement indemnity policy
CLS claims the policy will help open up a new market to brokers.
CLS Risk Solutions has launched public procurement indemnity insurance to the broker market.
The policy protects developers against losses arising from a successful challenge to the awarding of a public contract.
CLS claims the policy is unique to the market.
Chris Gwynn, lead underwriter for public law risks at CLS, commented: “Public procurement indemnity insurance is typically arranged via brokers or lawyers, who now have a significant opportunity to support developers, and provide the
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