The GEM/2025/B/6172566 tender, issued by the Food Civil Supplies and Consumer Protection Department Chhattisgarh, aims to procure comprehensive Assets Insurance Service that encompasses Fire Insurance, Floater Declaratory Basis, and coverage under Standard Fire & Special Perils. This tender facilitates the acquisition of insurance services that protect assets against a variety of risks, including but not limited to, storm, typhoon, hurricane, tornado, flood, and inundation.

Scope of Work and Objectives

The primary objective of this tender is to secure a reliable insurance provider capable of delivering essential asset protection services that align with the department's requirements. Interested parties will be responsible for providing customized insurance solutions to cover all risks presented under the collective term of Special Perils. The service must cater to both mandatory and optional coverage aspects as stipulated in the tender documentation.

Eligibility Criteria

To qualify for this tender, participants must possess a valid registration entitling them to provide assets insurance. This includes insurers who hold the necessary licenses to underwrite insurance and manage claims related to the diverse risks specified. Also, bidders should demonstrate their financial stability and operational capacity to meet the department's demands swiftly and effectively.

Technical Requirements

Proposals should meet clear technical specifications, explaining how the insurance services will address the outlined risks. The tender demands evidence of previous experience in managing similar insurance contracts, as well as adherence to industry standards and practices. Technical documentation should be detailed, showcasing actuarial assessments or modeling where applicable.

Financial Requirements

Bidders must provide detailed financial proposals, including premium costs, deductible adjustments, and any related fees associated with service provision. The submission should also outline the payment terms clearly, indicating preferred payment schedules and methods.

Document Submission Details

All bidding documents must be submitted electronically through the designated GEM platform. Ensure that the proposals are formatted according to the guidelines provided in the tender documentation to facilitate a smooth review process. Non-compliance with submission formatting rules may result in disqualification from the selection process.

Special Provisions

Additional benefits for Micro, Small, and Medium Enterprises (MSEs) and startups will be considered during the evaluation stage, encouraging their participation. Such initiatives aim to bolster equitable opportunities in government procurement processes, fostering local economic growth and resilience.

Evaluation Process

The evaluation will be based on both the technical and financial proposals. Assessors will prioritize bids that showcase a comprehensive understanding of the insurance market and a clear strategy for risk management. The scoring will also consider the integration of best practices in compliance with applicable regulations.

Delivery Locations

The insurance services will apply across various locations as specified by the Food Civil Supplies and Consumer Protection Department Chhattisgarh. Bidders are encouraged to define their capability in delivering these services to all required locations effectively.

Contact Information

For further inquiries about the tender, interested parties can reach out to the Food Civil Supplies and Consumer Protection Department using the contact details available through the procurement platform. It is advised that potential bidders ensure they have all required information to facilitate robust proposal creation.