Tender Notice for Cyber Insurance Services - Coverages; Optional; Annually in KOLKATA, WEST BENGAL

The eligibility requirements include being a registered entity capable of providing cyber insurance services. Bidders must have a valid license to operate and must demonstrate prior experience in the provision of similar insurance products. Additionally, potential bidders are required to confirm compliance with local and national regulations and submit financial statements for the past three years to establish financial stability.

Participants need to submit various certificates including their registration certificate, tax compliance certificates, and any necessary insurance service certifications. Providing a copy of ISO certificates relating to quality management or cybersecurity frameworks can also strengthen a bid in the eyes of the Department of Financial Services during the evaluation process.

Bidders must submit all documents electronically via the GEM portal. The required submissions must be in PDF format to ensure clarity and readability. Submissions should include a comprehensive bid submission form, technical proposals, and relevant company profiles that align with cyber insurance services.

Financial requirements for this tender include a detailed pricing structure for the proposed services, supported by audited financial statements showing the bidder’s solvency. Proposals must provide a clear breakdown of premium costs and coverage levels, helping the Department of Financial Services assess the financial viability of each submission during the evaluation phase.

The tender offers provisions favoring Micro, Small, and Medium Enterprises (MSEs) which include simplified procurement processes, priority in evaluation, and opportunities to collaborate with larger entities. The initiative aims to promote local businesses and comply with 'Make in India' policies, fostering local content engagement within the cyber insurance services landscape.