Tender Title: Assets Insurance Service - INDUSTRIAL ALL RISK (IAR) INSURANCE POLICY FOR THE ASSETS OF TRIPURA GAS
Tender Reference Number: 14f33f51e
Issuing Authority/Department: Hydro Power, Ministry of Power

The purpose of this tender is to procure an Assets Insurance Service in the form of an INDUSTRIAL ALL RISK (IAR) INSURANCE POLICY for the assets of the Tripura Gas based Power Station (101 MW), located in Monarchak, Tripura. The invited bidders will be required to provide comprehensive insurance coverage that encompasses various risks associated with the operation and maintenance of the power station and its assets. The overarching objective is to ensure financial protection against unforeseen incidents that could jeopardize the functioning of this critical energy infrastructure.

Scope of Work and Objectives

The selected insurance provider will be required to cover the following key components:

• Standard Fire & Special Perils Cover: Protecting against damages resulting from fire incidents and additional perils as specified in the policy.
• Natural Disasters: Coverage for damages arising from natural events, including storms, typhoons, hurricanes, tornadoes, flooding, and inundation.
• Business Interruption Insurance: In cases where damage leads to a halt in operations, this will provide essential coverage for the financial losses incurred.

This tender also aims to enhance the operational resilience of the Tripura Gas Power Station by minimizing potential risks that could disrupt power generation and distribution.

Eligibility Criteria

To be considered eligible for participation, bidders must fulfill the following criteria:

• Successful registration as a legal entity within the relevant industry.
• Proven experience in providing comprehensive insurance solutions for industrial assets, particularly within the energy sector.
• Financial stability and capability to underwrite the requested coverage.

Technical Requirements

Bidders must demonstrate compliance with the following technical specifications:

• Submission of certificates of insurance and underwriting experience relevant to similar tenders.
• The insurance policy must meet national quality standards and regulatory compliance requirements.
• Must provide detailed evidence of risk assessment practices utilized.

Financial Requirements

The following financial stipulations apply to participants:

• Provision of an Earnest Money Deposit (EMD), demonstrating serious intent to participate.
• Clarity regarding payment terms and conditions in light of service commencement and policy rollover or renewal.
• Assurance of competitive pricing that reflects market standards and complies with price evaluation considerations.

Document Submission Details

Interested parties must ensure that all required documentation is submitted electronically through the designated government e-marketplace portal. Document formats must adhere to the guidelines provided within the tender instructions to avoid disqualification.

Special Provisions

This tender extends a few benefits to Micro, Small, and Medium Enterprises (MSEs) and startup companies, providing them with an opportunity to engage in public procurement initiatives and contributing to economic growth. Bidders are encouraged to highlight their status to potentially leverage these provisions.

Evaluation Process

The bids will undergo a comprehensive evaluation process that includes:

• Preliminary scrutiny based on eligibility criteria.
• Detailed assessment of financial and technical proposals.
• Final selection based on compatible pricing, quality assurance parameters, and compliance with performance metrics.

Delivery Locations

The delivery of services under this insurance policy will primarily cater to the Tripura Gas Power Station located at Monarchak, Tripura, with supplementary coverage for related infrastructure as identified in the bid.

Contact Information

For further inquiries regarding the tender details or clarification requirements, interested bidders may refer to official communication channels provided in the tender documents.