Hydro Power Tender by North Eastern Electric Power Corporation Limited (GEM/2025/B/6157049)

Tender Title: Assets Insurance Service - All Risk Policy

Reference Number: GEM/2025/B/6157049

Issuing Authority/Department: Ministry of Power, Hydro Power

Scope of Work and Objectives

The purpose of this tender is to procure comprehensive insurance services encompassing an All Risk Policy for assets managed by the Ministry of Power under the Hydro Power sector. This insurance will cover property damage as well as several risks including, but not limited to, standard fire, special perils, storm, typhoon, hurricane, tornado, flood and inundation, and machinery breakdown. Additionally, the policy will include provisions for business interruption to protect against loss of profit during periods of unforeseen operational disruptions.

Eligibility Criteria

To facilitate participation, interested bidders must adhere to specified eligibility requirements. Bidders must be duly registered entities with a proven track record in providing insurance services. Furthermore, financial solvency and the necessary documentation to demonstrate operational capability in the insurance sector are prerequisites for consideration.

Technical Requirements

Bids must include detailed technical specifications indicating compliance with qualitative standards expected in the insurance industry. This includes risk assessment methods, coverage details, claims process, and the financial backing necessary to ensure claims can be honored without delay.

Financial Requirements

All bidders must submit comprehensive financial statements demonstrating the ability to underwrite the risks associated with the proposed insurance policies. The evaluation will factor in the financial strength and stability of the bidding entity based on past performance.

Document Submission Details

Bidders are required to submit their proposals electronically via the designated procurement portal before the deadline specified in the tender announcement. Documentation must include all forms, certificates, and supplementary information as mandated in the tender guidelines.

Special Provisions

The tender includes benefits for Micro, Small, and Medium Enterprises (MSEs) and recognizes the contributions of startups. Proposals demonstrating adherence to 'Make in India' policies and local content requirements will receive preferential consideration.

Evaluation Process

Submissions will undergo a structured evaluation, focusing on both technical and financial merit. The evaluation criteria will assess the sufficiency of coverage, the capabilities of the bidder, and pricing structures. The selection will prioritize proposals offering the most competitive coverage while ensuring compliance with the Ministry's requirements.

Delivery Locations

Services offered under this tender will be applicable to various hydro power project sites across the country, ensuring wide-reaching coverage of assets involved in power generation.

Contact Information

For further inquiries, bidders may reach out to the official contact channels provided in the tender documentation. It is crucial not to send unsolicited proposals or inquiries outside the specified means of communication.

This tender presents a significant opportunity for qualified bidders to provide essential insurance services vital for the continuity of operations within the hydro power sector. Interested parties must prepare thorough and compliant submissions to be considered for this important undertaking.