Rashtriya Ispat Nigam Limited Insurance Services Tender Visakhapatnam Andhra Pradesh 2026 – Special Contingency Policy for Coal Storage & Transit

Tender Overview

Rashtriya Ispat Nigam Limited in Visakhapatnam, Andhra Pradesh invites bids for an insurance service covering a Special Contingency policy for coal and coke storage at GPL and RINL and coal transit from GPL to RINL, including standard fire & special perils cover as per bid document ATC. The contract scope encompasses risk coverage for storage facilities and transit routes within the specified geographic area, with the option clause allowing quantity or duration adjustments up to 25% at contract issuance or thereafter. This procurement emphasizes robust risk transfer, compliant with applicable insurance standards, and requires bidders to align with ATC terms while ensuring timely claim handling and policy management.

• Organization: Rashtriya Ispat Nigam Limited
• Location: Visakhapatnam, Andhra Pradesh (530001)
• Category: Assets Insurance Service – Special Contingency policy for coal storage and transit
• Value/Scope: Not disclosed in tender data; emphasis on risk coverage for storage at GPL/RINL and cross-location transit
• Unique aspect: Inclusion of fire & special perils cover and contingency policy with potential quantity adjustments

Technical Specifications & Requirements

• Product/Service: Insurance service for Special Contingency policy covering coal storage at GPL and RINL and coal transit from GPL to RINL
• Cover types: Standard Fire and Special Perils, contingent upon bid document ATC
• Geographic coverage: Visakhapatnam region; storage sites at GPL and RINL; transit route GPL → RINL
• Standards/Compliance: Align with ATC; explicit standards not specified in available data
• Policy terms: Contingency policy with risk transfer, claims handling, premium terms as per ATC
• Bid scope limitations: No BOQ items listed; scope defined by insurance coverage and risk period
• Experience relevance: Insurers must demonstrate capability in large-scale energy/infrastructure risk coverage
• Delivery/Activation: Policy activation upon contract award; renewal terms per ATC

Terms, Conditions & Eligibility

• EMD: Not disclosed in tender data; bidders should consult ATC for exact amount
• Eligibility: Insurance providers with track record in coal/energy sector risk coverage; compliance with statutory requirements
• Delivery timeline: Policy effective date to be defined in contract; activation post-award
• Payment terms: To be stated in ATC; typical insurance settlements follow standard premium payment terms
• Documentation: GST registration, PAN, financial statements, prior experience certificates, OEM/underwriter authorizations (per ATC)
• Penalty/LD: Penalties or performance bonds governed by ATC; specifics not in data
• Warranty/Support: Policy service levels and claim support standards to be per ATC