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Tender Title: Liability Insurance Service - Indemnity Insurance
Reference Number: GEM/2025/B/6132489
Issuing Authority/Department: Ministry of Railways, Railways Public Sector Undertakings
Scope of Work and Objectives
The Ministry of Railways is seeking proposals for Liability Insurance Services, specifically Indemnity Insurance. The objective of this tender is to secure a comprehensive liability insurance policy that covers various risks associated with the operations of the Ministry, ensuring financial protection against potential claims arising from incidents involving public liability and professional indemnity. The selected service provider will be responsible for providing a detailed insurance policy that meets the specific needs of the railways.
Eligibility Criteria
To qualify for this tender, bidders must meet specific eligibility requirements that ensure they possess the requisite financial and technical capabilities to deliver high-quality indemnity insurance services. Eligible bidders will include registered insurance companies or brokers that can demonstrate their experience in providing liability insurance services similar in nature, scale, and complexity.
Technical Requirements
Bidders must provide documentation proving their compliance with all legal and statutory obligations related to insurance services, including necessary licenses and registrations. Furthermore, submissions should include descriptions of technical capabilities, underwriting practices, and risk assessment methodologies.
Financial Requirements
The bidders are expected to submit precise financial proposals that illustrate their pricing structure for the insurance services. This includes premiums, potential deductibles, and coverage limits. The proposals must also outline payment terms and any other financial conditions related to the service.
Document Submission Details
All proposals must be submitted electronically via the specified platform in the required formats stipulated in the tender documentation. Bidders are encouraged to ensure all requisite documents, including their technical and financial proposals, are uploaded before the deadline to avoid disqualification.
Special Provisions
The tender includes provisions aimed at encouraging participation from Micro, Small, and Medium Enterprises (MSEs) and startups. These include concessions regarding bid submission and evaluation processes to enhance inclusivity within the sector.
Evaluation Process
The evaluation process will be comprehensive, assessing both the financial and technical merits of the submitted proposals. A scoring system will be employed to determine the most advantageous bid, taking into account the proposed coverage, terms, and experience of the bidder. A transparent review panel will be established to ensure a fair evaluation process is followed.
Delivery Locations
The service will be required across various locations serviced by the Ministry of Railways. Specific needs and customization may be addressed based on the operational zones and identified risk factors applicable to each location.
Contact Information
For further inquiries regarding the tender or specific details, interested parties are encouraged to reach out directly through the official contact platforms provided by the Ministry of Railways.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
7 DocumentsDocuments Required from Seller
- Additional Doc 1 (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 capable of providing liability insurance services. Bidders must demonstrate prior experience in administering indemnity policies similar to the requirements of this tender. Firms should also possess valid licenses and comply with all applicable regulations to qualify for the bid.
Bidders are expected to follow strict technical specifications, which include presenting their risk assessment processes, underwriting guidelines, and overall compliance with the standards set forth in the insurance industry. It’s essential for proposals to describe the extent of coverage, performance metrics, and the company’s approach to claims handling.
The financial proposal must clearly outline the earnest money deposit (EMD), premium rates, coverage details, deductibles, and the terms of payment. Submissions should articulate the total cost of the policy and any variations based on the specific terms of service requested by the Ministry of Railways.
Bids must be submitted electronically through the designated platform in the accepted document formats as specified in the tender documentation. It’s crucial for bidders to ensure all required documentation is complete and uploaded on time to be considered for evaluation.
The tender has specific provisions for MSEs that include simplified procedures for bid submission and potential advantages in the evaluation criteria. The Ministry of Railways encourages MSE participation to foster competition and inclusivity in securing liability insurance services. Compliance with the ‘Make in India’ policy and adherence to local procurement guidelines are essential as well.
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