NACE 65.1 – Insurance | Public Tenders

Definition: NACE 65.1 covers the activities of insurance undertakings that, by assuming risks in return for a premium, provide insurance cover for property, liability, life and accident risks. In the public sector, insurance is one of the most frequently tendered financial services — almost every territorial authority relies on insurance cover.

Legal basis: NACE Rev. 2 (Regulation (EC) No 1893/2006) · Last updated: January 2026

What does NACE 65.1 cover?

NACE 65.1 (Insurance) classifies direct insurance undertakings offering property, liability, accident and life insurance — particularly relevant as contractors for insurance services to public contracting authorities.

Group 65.1 within Section K (Financial and insurance activities) and Division 65 is broken down into three classes:

Public contracting authorities are among the largest insurance policyholders overall — with sometimes extremely large and complex portfolios of properties, vehicle fleets, liability risks and personnel.

Public Tenders: Sector NACE 65.1

Public insurance tenders are a core segment of services procurement — with several thousand notices regularly published each year on TED.

Typical types of contract

• Liability insurance: General public liability, financial loss liability (PI), official liability, environmental liability for municipal institutions
• Buildings and property insurance: Building complex insurance for municipal real estate, contents insurance, all-risk policies
• Motor fleet insurance: Liability and comprehensive cover for service vehicle fleets, special vehicles (fire service, rescue, cleaning)
• D&O insurance: Directors and officers insurance for boards of municipal undertakings and supervisory board members
• Group accident insurance: Group accident policies supplementing statutory accident insurance for employees
• Electronics and cyber insurance: IT infrastructure insurance, cyber risk cover for authorities and municipal IT
• Business travel insurance: Travel health, baggage and liability insurance for business travel

Thresholds and procedure types

Insurance services are subject to the general EU threshold for service contracts (EUR 221,000). For municipalities and local councils, this threshold is frequently exceeded for buildings and fleet insurance. Award is usually made in the open procedure or — for complex insurance portfolios — in the negotiated procedure with prior selection.

Relevant CPV codes for NACE 65.1

Searches for insurance tenders on TED are conducted primarily using CPV codes from group 66500000.

Current tenders with these CPV codes can be found on TED (Tenders Electronic Daily) as well as on national procurement platforms.

Who is NACE 65.1 relevant for in public procurement?

Public contracting authorities

All territorial authorities as well as municipal undertakings, in-house operations, special-purpose associations, schools, universities and public hospitals are obliged to tender insurance services where the thresholds are exceeded. Central purchasing bodies such as the federal procurement offices bundle insurance needs and tender them on a framework basis.

Companies and bidders

Insurance undertakings wishing to participate in public tenders require:

• Authorisation: Authorisation as an insurance undertaking by BaFin (Germany) or FMA (Austria) for the relevant insurance lines
• Technical capability: References for comparable public-sector policyholders, claims settlement capacity
• Economic capability: Solvency II indicators, rating evidence (Standard & Poor's, Moody's, AM Best)
• Broker cooperation: Public tenders are frequently accompanied by insurance brokers advising on behalf of the contracting authority (NACE 66.2)

NACE 65.1 in context: Section K and Division 65

NACE 65.1 is part of Division 65 (Insurance, reinsurance and pension funding) within the financial and insurance Section K.

• NACE K – Financial and insurance activities: Parent section
• NACE 65 – Insurance, reinsurance and pension funding: Parent division
• NACE 65.2 – Reinsurance: Reinsurance business
• NACE 65.3 – Pension funding: Occupational pension schemes
• NACE 66.2 – Activities auxiliary to insurance and pension funding: Insurance brokers

Frequently Asked Questions on NACE 65.1 and public tenders

Do municipalities have to tender their insurance contracts?
Yes, from the EU threshold for services (EUR 221,000), municipalities are obliged to tender insurance services EU-wide. Below that, national procurement law applies with budget law requirements for economic efficiency.

May an insurance broker accompany the tender and at the same time act as a bidder?
No. A broker who has advised the contracting authority on the tender (drafting the specification, market exploration) is in principle excluded from participating as a bidder, where a conflict of interest cannot be ruled out.

What are typical award criteria for insurance tenders?
In addition to the price (annual premium), quality criteria such as scope of cover, sublimits, deductibles, claims handling service and reporting are frequently used as award criteria.

Can insurance tenders be awarded in lots?
Yes and frequently. Typical lot divisions are: Lot 1 liability, Lot 2 buildings, Lot 3 motor fleet, Lot 4 electronics/cyber. Award in lots fosters competition and enables specialised providers.

Last updated: January 2026
All information is provided without guarantee. For legally binding advice, please consult a law firm specialising in public procurement law.