GlossaryEN1 min readUpdated: Jun 13, 2026
Insurance tender
An insurance tender is a formal procurement process in which an organization (freight forwarder, logistics provider, importer) invites insurance companies to submit binding quotes for transport, liability, or specialized coverage.
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Source: https://en.wikipedia.org/wiki/Tender_(procurement)
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An insurance tender is a formal procurement process in which an organization (freight forwarder, logistics provider, importer) invites insurance companies to submit binding quotes for transport, liability, or specialized coverage. The tender specifies required coverage limits, deductibles, term, and performance criteria. The objective is to compare premiums, conditions, and policy scope to select the most cost-effective and suitable insurer. In international transport, this practice ensures pricing transparency and secures multi-year insurance agreements.
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