Assets Insurance Service - Terrorism Insurance, Fire Insurance

Assets Insurance Service - Terrorism Insurance, Fire Insurance, undefined; Standard Fire & Special

Chennai, Tamil nadu
Service
Qty:NaN
EMD: ₹18,000
EST Bid: ₹6.0 Lakh

Tender Timeline

Tender Issue
June 10, 2025 at 11:07 AM

Tender Description

Tender Title: Assets Insurance Service - Terrorism Insurance, Fire Insurance
Reference Number: 31624bccf
Issuing Authority: Ministry of Labour and Employment

The Assets Insurance Service tender aims to procure comprehensive insurance coverage for various assets, ensuring protection against a range of risks including but not limited to Terrorism Insurance, Fire Insurance, and specialized perils such as Storms, Typhoons, Hurricanes, Tornadoes, Flooding, Inundation, and Earthquakes. This service is critical for safeguarding public sector assets, thereby maintaining operational continuity and minimizing financial impact from unforeseen events.

General Information

Item Category
Assets Insurance Service - Terrorism Insurance, Fire Insurance, undefined; Standard Fire & Special Perils Cover, Storm, Typhoon, Hurricane, Tornado, Flood and Inundation (STFI) Cover, Terrorism Cover, Earthquake Cover; Optional
Ministry Name
Ministry of Labour and Employment
Department Name
NA
Organisation Name
Employees State Insurance Corporation (esic)
State
Tamil nadu
City
Chennai

Financial Information

Estimated Bid Value
₹6,00,000.00
EMD Amount
₹18,000.00
Minimum Turnover
₹10.00 Lakh (s)
Bid Offer Validity
180 (Days)
Arbitration Clause
No
Mediation Clause
No

Evaluation and Technical Information

Evaluation Method
Total value wise evaluation
Inspection Required
No
Technical Clarifications Time
2 Days

Tender Documents

6 Documents
GeM-Bidding-7851483.pdfMain Document
Other DocumentsOTHER
Other DocumentsOTHER FINANCIAL
Other DocumentsOTHER APPENDIX
Buyer uploaded ATC documentATC ATC
GEM General Terms and Conditions DocumentGEM_GENERAL_TERMS_AND_CONDITIONS

Documents Required from Seller

  • Experience Criteria
  • Bidder Turnover
  • Certificate (Requested in ATC)
  • Additional Doc 1 (Requested in ATC)
  • Additional Doc 2 (Requested in ATC)
  • Additional Doc 3 (Requested in ATC)
  • Additional Doc 4 (Requested in ATC) *In case any bidder is seeking exemption from Experience / Turnover Criteria
  • the supporting documents to prove his eligibility for exemption must be uploaded for evaluation by the buyer

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Frequently Asked Questions

The eligibility requirements include being a registered entity with valid credentials to provide insurance services. Bidders must showcase relevant experience in managing similar contracts and have an understanding of risk management frameworks.

Bidders are required to meet several technical specifications such as having expertise in comprehensive insurance solutions handling. This includes capabilities in risk management and providing specialized insurance types, especially for terrorism and natural disasters.

For this tender, applicants must submit a Performance Security that ensures contract compliance. Additionally, detailed payment terms include the schedule related to premium payments and conditions for claims settlement, which will be elaborated upon in the contract.

Bidders must submit their proposals in PDF format, ensuring that all necessary documents and forms are signed. The submission process will be outlined in the tender notice, providing specifics on electronic submissions or physical delivery.

Yes, MSEs can benefit from special provisions integrated into this tender to encourage their participation. These benefits may include relaxed eligibility conditions and support under the Make in India policy to enhance local content and procurement.

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