♦ Guarantee insurance is part of the category of eligible guarantee tools, provided in the public procurement legislation, and represents a faster and more convenient alternative to the bank guarantee letter ♦ This type of insurance represents a financial solution for companies wishing to participate in Public procurement procedures or those who need to constitute contractual guarantees.
The insurance of guarantees reached the end of the first nine months of 2024 at a volume of the gross premiums of 212.4 million lei, up 9% compared to the first 9 months of 2023, according to the latest data published by the Supervisory Authority Financial (ASF) in the report on the evolution of the insurance market from the first 9 months of 2024. The guarantee insurance is part of the category of eligible guarantee tools, provided in the legislation of public procurement, and represents a faster and more convenient alternative to the letter of bank guarantee . This type of insurance represents a financial solution for companies who want to participate in public procurement procedures or to those who need to constitute contractual guarantees.
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