Department of Atomic Energy Tender by Nuclear Power Corporation Of India Limited (13e948c2a)

Tender Title: Assets Insurance Service - SFSP Including STFI and EQ Coverage

Reference Number: 13e948c2a

Issuing Authority

This tender is issued by the Department of Atomic Energy, PMO.

Scope of Work and Objectives

The primary objective of this tender is to procure a comprehensive Assets Insurance Service, which includes Standard Fire and Special Perils (SFSP) coverage, along with provisions for Storm, Typhoon, Hurricane, Tornado, Flood, Inundation (STFI) and Earthquake coverage. The service aims to ensure that assets associated with the Department of Atomic Energy are adequately protected against unforeseen calamities, thereby mitigating financial risks.

Eligibility Criteria

Eligible entities for this tender must be registered and recognized insurance agencies with the requisite licensing and experience in providing insurance services for public sector undertakings. They should also demonstrate their capabilities in managing large-scale insurance policies and claims effectively, ensuring compliance with all legal and regulatory frameworks.

Technical Requirements

Bidders must provide detailed documentation demonstrating their insurance policies' technical standards, including coverage specifics. Additionally, bidders need to outline their risk assessment methodologies, claim handling procedures, and the period of service expected for this insurance coverage.

Financial Requirements

Bidders are required to submit their proposals with a clear breakdown of the financial terms, including premium rates, policy limits, deductibles, and any associated fees. Moreover, an Earnest Money Deposit (EMD) is required as part of the financial assurance for the bid submission.

Document Submission Details

All submissions must be completed electronically through the designated bidding platform. Bidders should ensure their documents include all requested items, clearly labelled to facilitate the evaluation process. An outline of required documentation includes company registration certificates, financial statements, and prior experience summaries.

Special Provisions

This tender seeks to encourage participation from Micro, Small, and Medium Enterprises (MSEs) and startups, offering special terms to foster inclusivity and local participation in line with the government's objectives.

Evaluation Process

The evaluation of bids will be conducted based on multiple criteria, including technical qualification, financial viability, and past performance. Emphasis will be placed on the bidders' capability to deliver services efficiently and effectively. A structured grading system will be in place to streamline bid assessment.

Delivery Locations

The insurance services will encompass all assets managed by the Department of Atomic Energy across various locations; thus, the bidders should have a geographical presence or the capacity to service these sites within the country.

Contact Information

For further details regarding the tender, bidders may refer to the official contact channels provided in the published documents, ensuring any inquiries are communicated effectively.