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Tender Title: Liability Insurance Service - Professional Liability Insurance Policy for Consultancy Services
Reference Number: GEM/2025/B/6112257
Issuing Authority: WAPCOS Limited, Ministry of Water Resources River Development and Ganga Rejuvenation
In response to the increasing demand for specialized services in the area of professional liability insurance, WAPCOS Limited invites eligible bidders to submit their proposals for the Liability Insurance Service - Professional Liability Insurance Policy for Consultancy Services. This service is crucial for supporting the preparation of the Feasibility Report of Emini Amulin Mihumdon Hydroelectric Projects (HEPs) located in Arunachal Pradesh. The selected professional liability insurance policy will be effective for a duration of one year, aimed at ensuring comprehensive coverage against possible professional liability claims that may arise during the consultancy period.
Scope of Work and Objectives
The primary objective of this tender is to ensure that the consultancy services involved in the feasibility study are protected against liabilities arising from negligence, errors, or omissions during the project execution. Bidders must provide detailed proposals, illustrating their understanding of the insurance coverage needs specific to consultancy services in the construction and environmental sectors.
Eligibility Criteria
Interested bidders must demonstrate the following eligibility criteria:
- Be a well-established insurance provider with a minimum of five years of experience in offering professional liability insurance.
- Possess the requisite licenses and certifications for operating within the Indian insurance market.
- Showcase previous work experience with similar projects, preferably within the public sector.
Technical Requirements
Bidders are required to meet the following technical specifications:
- Comprehensive coverage that includes professional liability, indemnity for legal defense costs, and damages awarded in legal proceedings.
- An upper limit for claims, which must be specified in the proposals.
- Clear delineation of the terms and conditions of the policy.
Financial Requirements
Bidders should provide a detailed breakdown of the financial proposal, including:
- Quoted premium for the policy.
- Any applicable taxes and fees.
- Payment terms and conditions for the contract duration.
Document Submission Details
All proposals, including necessary documentation and financial bids, should be submitted following the guidelines issued in this tender. The submission should be organized and include:
- A cover letter summarizing the proposal.
- Certificate of registration and licenses.
- Relevant case studies or examples of past performance.
Special Provisions
WAPCOS Limited encourages Micro, Small, and Medium Enterprises (MSEs) and startups to participate in this tender process. Specific provisions are available to facilitate their engagement, promoting the 'Make in India' initiative.
Evaluation Process
The evaluation of submitted proposals will be conducted based on:
- Compliance with technical specifications.
- Cost-effectiveness of financial proposals.
- Previous experience and performance history in providing professional liability insurance.
Included in the evaluation will be democratic measures to ensure that bids from MSEs and startups receive fair consideration, thereby enhancing inclusivity in the procurement process.
Delivery Locations
The insurance service will be applicable to consultancy activities located in Arunachal Pradesh tied to the Emini Amulin Mihumdon HEP projects.
Contact Information
For any inquiries related to the tender, please direct your correspondence to the following:
- Department: WAPCOS Limited
- Email: sap@wapcos.co.in
- Contact details for further information will be available through relevant channels upon inquiry.
In conclusion, interested bidders are encouraged to review the tender document thoroughly and adhere to all stipulated guidelines to ensure comprehensive submissions. Proposals must reflect a clear understanding of the specific needs of the professional liability insurance related to the consultancy services for the HEPs.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
4 DocumentsDocuments Required from Seller
- Experience Criteria
- Bidder Turnover *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 insurance provider with a valid operational license in India. Bidders should also possess minimum five years of experience in professional liability insurance and demonstrate relevant past performance in similar projects, especially in the public sector.
To participate in this tender, bidders must submit copies of applicable licenses and certificates proving their authority to provide professional liability insurance services. This includes registration certificates, IRDA approval letters, and any other relevant documentation that supports their eligibility.
Interested bidders can register by submitting their proposals aligned with the submission guidelines outlined in the tender document. It is crucial to include all necessary documentation, including eligibility proofs, financial details, and past experience to enhance the chances of selection.
The payment terms typically include the quoted premium for the professional liability insurance policy along with applicable taxes. Detailed payment schedules will be outlined in accordance with the final contractual agreements once a successful bidder is selected.
Absolutely, WAPCOS Limited aims to encourage the participation of MSEs and startups in this tendering process. Specific policies and provisions are implemented to ensure that these entities receive equitable consideration during the evaluation process, thus supporting local suppliers in line with the ‘Make in India’ initiative.
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