Employees State Insurance Corporation Assets Insurance Service Tender India 2026 IS 550 compliant All Risk Policy
Bid Publish Date
22-Oct-2026, 1:01 pm
Bid End Date
02-Nov-2026, 11:00 am
Value
₹35,00,000
Location
Progress
Key Highlights
- • PSGIC/PSU eligibility only; IRDAI authorization required
- • IRDAI-regulated government insurance procurement
- • Coverage includes All Risk, Fire, STFI, Terrorism, Property Damage, and natural peril perils
- • Estimated contract value ₹3,500,000.00; no explicit EMD disclosed
- • No BOQ; emphasis on comprehensive policy terms and claim process
- • Mandatory certificates and documents to be uploaded with bid
Tender Overview
Organization: Employees State Insurance Corporation (ESIC). Product/Service: assets insurance service coverage including All Risk Policy, Fire Insurance, Terrorism Insurance, and Electronic Equipment Insurance with STFI and related perils. Estimated Value: ₹3,500,000.00. Location: India (generic nationwide program). The procurement restricts bidders to PSGICs/PSUs authorized by IRDAI for insurance business, ensuring alignment with public sector risk pooling. Unique aspect: no BOQ items listed, emphasis on comprehensive risk coverage for ESIC assets with IRDAI-licensed insurers. This tender requires strict adherence to buyer-specified certificates and eligibility criteria to participate, with potential for a multi-risk policy framework. Overall, the emphasis is on robust, IRDAI-compliant, all-risk asset insurance for ESIC operations.
Technical Specifications & Requirements
- Coverage scope includes All Risk Policy, Fire Insurance, STFI Cover, Terrorism Insurance, Property Damage Cover, and related risks (Storm, Typhoon, Hurricane, Tornado, Flood, Inundation).
- No detailed BOQ items or technical performance metrics provided; emphasis on insurance product alignment with public sector risk transfer.
- Required insurer must be PSGIC/PSU registered with IRDAI and authorized to undertake insurance business for government/public sector entities.
- EMD is not disclosed in the tender; bidders should prepare standard bid security per IRDAI-backed insurance procurement norms.
- Compliance with standard insurance procurement guidelines and IRDAI regulatory framework is implicit; bidders should present policy wordings, exclusions, and claim settlement processes in line with PSUs.
- Tender value signals scope of risk exposure and premium benchmarking; exact policy limits to be confirmed during bid evaluation.
Terms, Conditions & Eligibility
- Eligibility restricted to PSGICs/PSUs registered with IRDAI.
- Bidders must upload all listed certificates/documents as per Bid Document/ATC; non-submission leads to rejection.
- EMD: amount not disclosed; bidders should follow standard PSUs insurance bid security protocols.
- Delivery/issuance timeline: not explicitly stated; comply with public sector procurement timelines and policy issuance norms.
- Documentation: GST registration, PAN, financial statements, prior insurer experience in government/public sector assets insurance, and OEM/insurance carrier authorizations if applicable.
- Penalties or SLA-based penalties are not explicitly described; bidders should anticipate typical claim settlement and policy compliance penalties per PSUs.
- Warranty/AMC: not specified; reference to policy maintenance and renewal terms as per IRDAI-guided public insurance contracts.
Key Specifications
-
Product/Service: All Risk Asset Insurance including Fire, STFI, Terrorism, and Electronic Equipment Insurance
-
Estimated contract value: ₹3,500,000.00
-
Policy categories: Fire Insurance, Property Damage Cover, Storm/Typhoon/Hurricane/Tornado/Flood/INundation, Terrorism Insurance
-
Regulatory requirement: IRDAI-licensed PSGIC/PSU bidder
-
No BOQ items provided; focus on policy terms, coverage scope, exclusions, and claim process
-
Documentation: requisite certificates uploaded per ATC; EMD amount not disclosed
Terms & Conditions
-
EMD: amount not disclosed; follow PSUs bid security norms
-
Eligibility: PSGIC/PSU registered with IRDAI
-
Documentation: mandatory certificates/documents to be uploaded
Important Clauses
Payment Terms
Payment terms to be defined in policy issuance; bidders should anticipate premium payment upon policy issuance and renewal cycles per PSUs norms
Delivery Schedule
Policy issuance timeline to align with ESIC risk transfer schedule; no explicit delivery date in tender
Penalties/Liquidated Damages
Penalties described in formal insurance contract; bidders should review SLA-based penalties and claim settlement timelines
Bidder Eligibility
-
PSGICs/PSUs registered with IRDAI to undertake insurance business
-
Authorized by IRDAI for public sector insurance procurement
-
Experience in government/public sector asset insurance procurement
Tender Data
Bid Details
Quantity
1
Bid Type
Two Packet Bid
Bid Validity
180 (Days)
Bid Type
Service
Evaluation
Total value wise evaluation
RA Qualification Rule
50% Lowest Priced Technically Qualified Bidders
Tech Clarification Time
2 Days
Preference & Exemptions
EMD Required
No
MII Compliance
Yes
MSE Purchase Preference
Yes
MSE Preference Band
L1+15%
MSE Exemption/Relaxation
No
Startup Exemption/Relaxation
No
Bid Splitting Applied
No
Requirements
Arbitration Clause
No
Mediation Clause
No
Additional Tender Data
Commercial Details
Tender Category
Service
Bid To RA
No
Bid To RA Enabled
Yes
Item Category
Assets Insurance Service - All Risk Policy, Fire Insurance, Terrorism Insurance, Electronic Equipment Insurance; Standard Fire & Special Perils Cover, Property Damage Cover, Storm, Typhoon, Hurricane, Tornado, Flood and Inundation (STFI) Cover, Terro..
Pre-Bid & Qualification
Pre-Bid Date
27-10-2026 15:00:00
Pre-Bid Venue
Offline- Conference Hall, Ground Floor, Medical College Building, ESIC Medical College and Hospital, Alwar, Rajasthan-301030 Online- https://meet.google.com/qws-bdzm-kwe
Delivery Details
Delivery Locations
1
Delivery Cities
Alwar
Delivery Pincodes
301030
Delivery Locations
| Consignee | Address | City | State | Pincode | Quantity | Delivery Days | Additional Requirement |
|---|---|---|---|---|---|---|---|
| Ramanand Meena | 301030,Esic Medical College & Hospital, Desula, M.I.A. Alwar | Alwar | Rajasthan | 301030 | Project / Lumpsum Based | - | Total Number of Asset to be Insured (Quantity) : 1 Total Sum Insured for the Assets : 6209131880 |
Authority Records
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Documents 5
GeM-Bidding-10064600.pdf
Main Document
Other Documents
OTHER
Other Documents
OTHER
GEM General Terms and Conditions Document
GEM_GENERAL_TERMS_AND_CONDITIONS
GEM General Terms and Conditions Document
GEM_GENERAL_TERMS_AND_CONDITIONS
Categories
2
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Required Documents
GST registration certificate
Permanent Account Number (PAN) card
Experience certificates from similar insurance procurements
Financial statements for last 2-3 years
Bid security/EMD as per PSUs norms (not disclosed in tender)
Technical bid documents and policy wordings
IRDAI registration/certification proof
OEM authorizations or insurer authorization (if applicable)
Frequently Asked Questions
How to bid for ESIC assets insurance tender 2026 in India
Bidders must be PSGIC/PSU registered with IRDAI and upload all certificates listed in the Bid Document. Prepare GST, PAN, financials, experience certificates, and IRDAI authorization. The tender centers on comprehensive all-risk asset coverage (Fire, STFI, Terrorism) with policy terms reviewed during evaluation.
What documents are required for ESIC insurance bid in India 2026
Required documents include GST registration, PAN, 2–3 years of financial statements, insurance-specific experience certificates, IRDAI license proof, and OEM/insurer authorizations if applicable. Technical bid documents and policy wordings must be uploaded per ATC/Corrigendum; EMD amount is not disclosed in the tender.
What standards or regulatory compliance apply to ESIC insurance tender
Bidders must be IRDAI-authorized PSGICs/PSUs; the procurement follows IRDAI and PSUs norms for government asset insurance. Policy terms should align with public sector standards, including claim settlement timelines and policy renewals under PSUs contracts.
When is the ESIC asset insurance bid submission deadline 2026
The tender notice indicates typical public sector timelines; exact submission deadlines are provided in the official tender portal updates and ATC. Bidders should monitor for corrigenda and ensure all certificates are uploaded before the stated deadline.
What are the coverage components for ESIC asset insurance tender
The policy includes All Risk Policy, Fire Insurance, STFI Cover, Terrorism Insurance, Property Damage, and perils like Storm and Flood. Bidders must present policy wordings detailing inclusions, exclusions, sub-limits, and claim procedures.
What is the EMD amount for ESIC insurance procurement 2026
EMD amount is not disclosed in the tender document. Bidders should prepare standard bid security as per PSUs norms and IRDAI-regulated procurement practices, to be adjusted in the formal bid submission.
How to verify IRDAI eligibility for ESIC insurance bid
Confirm IRDAI registration as a PSGIC/PSU with authorization to undertake public sector insurance. Cross-check the insurer’s current IRDAI license status and ensure the bidder’s past public sector asset insurance experience is clearly documented in their submission.