Nationale Nederlanden and Caser dispute to replace Axa in insuring the accidents of the BdE staff

For several months now, the central bank has been looking, with not too much luck, for a company to supply it with this policy. The Bank of Spain already tried to find an insurer last July, but failed by not receiving a single offer, so had to declare the contest void.

Weeks later he has tried again, although without modifying the economic conditions of the contract, and this time with character urgent. Now he has had more luck, as he has received two offers. In this contest, therefore, only two insurers face, Caser y Nationale Nederlanden, which have presented very different economic offers.

While the company owned 70% of Helvetia has put on the table a proposal with a cost of 230,115 euros for two years (VAT excluded), the Dutch has thrown away much lower with an offer for 72,923 euros for the two years (without VAT).

The contract, however, has a budget of 140.000 euros, of which the majority, 126,000 euros, are direct costs, such as personnel costs (30,000 euros). That is why the best positioned would be the Dutch, given that its economic offer is well below the budget and the price is the most important criterion (75%) for the evaluation of the best proposal.

Two years of contract

The winning insurer must offer the policy to the Bank of Spain for the next two years, more specifically from January 1, 2022 to December 31, 2023. The inclusion of workers in the policy, of which the Bank of Spain will be the policyholder, will be automatic.

The heads of the Bank of Spain agreed in 2012 on the need for the supervisor’s staff to always have collective accident insurance and with it all the supervisor’s workers are covered, including the governor, Pablo Hernandez de Cos, and the deputy governor, Margarita Delgado.

However, the coverage is different depending on the group in which the worker is. Thus, the governor, the deputy governor, the directors, the general directors, the deputy general directors, the general secretary, the ex-governor, the ex-vice governor, the directors of departments, the director of the Sepblac and other positions will have a 24 hour coverage 365 days a year, while the rest of the workforce has it when they move out of their workplace on behalf of the Bank of Spain (including attending training courses).

What also depends on the position are the policy guarantees for death or permanent disability, which vary from between 301,030 euros and 675,766 euros (higher the higher range).

Earthquakes or seditions

This policy covers accidents, but those caused by extraordinary events, such as phenomena of nature (earthquakes and tidal waves, extraordinary floods, volcanic eruptions, atypical cyclonic storm and falls of sidereal bodies and aeroliths), those caused violently as a result of terrorism, rebellion, sedition, riot or popular tumult, as well as the resulting of actions of the Armed Forces or the Security Forces and Bodies in peacetime. All of these must be assumed by the Insurance Compensation Consortium.

Until now, Axa has been the concessionaire of this service through a contract that expires on December 31, hence the need for the award to be made urgently.

To qualify for this contract, both Caser and Nationale Nederlanden have had to prove to the Bank of Spain that they have solvent businessesIn other words, its annual turnover in collective accident insurance has been 105,000 euros in the best year of the last three. We will have to wait to see which of the two the supervisor chooses.

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