Contract Bidding Open For Assets Insurance Service - Mega Risk Insurance, Erection All Risk (EAR), Contractors All Risk (CAR) in SOUTH GOA, GOA
Progress
RAQuantity
6
Bid Type
Two Packet Bid
Categories
8
Goa Shipyard Limited has released a public tender for Assets Insurance Service - Mega Risk Insurance, Erection All Risk (EAR), Contractors All Risk (CAR), Advance Loss of Profit (ALOF) Insurance, Terrorism Insurance, Electronic Equipment Insurance, Marine – cum – Erection (MCE), All Risk Policy, Fire In. . , Motor Insurance Service - 2 Wheeler, 4 Wheeler; 0 to 1000 cc, 1001 to 1500 CC, 1501 to 2500 CC, Above 2500 CC, Group Mediclaim Insurance Service - Permanent Employees, Retired / Superannuated / Pensioners; Hospitalization for accident & emergency Treatments, OPD, Domiciliary treatment, Maternity, All pre- existing illness; Yes, Group Personal Accidental Insurance Service - Permanent Employees, Contract Employees; Only accidental death (not natural), Permanent total disability, Permanent partial disability, Temporary disabilities, Liability Insurance Service - Employer’s liability and workers' compensation, Director and Officer liability coverage, Comprehensive general liability policies, Marine and Transit Insurance Service - Inland Transit, Marine Cargo Exports/Imports, Marine Cargo Inland, Hull Insurance, Protection and Indemnity Insurance; Land, Sea, Air in SOUTH GOA, GOA. Quantity: 6. Submission Deadline: 04-03-2025 10: 00: 00. Download documents and apply online.
Additional Tender Data
Commercial Details
Tender Category
Service
Bid To RA
No
Bid To RA Enabled
Yes
Item Category
Assets Insurance Service - Mega Risk Insurance, Erection All Risk (EAR), Contractors All Risk (CAR), Advance Loss of Profit (ALOF) Insurance, Terrorism Insurance, Electronic Equipment Insurance, Marine – cum – Erection (MCE), All Risk Policy, Fire In.. , Motor Insurance Service - 2 Wheeler, 4 Wheeler; 0 to 1000 cc, 1001 to 1500 CC, 1501 to 2500 CC, Above 2500 CC , Group Mediclaim Insurance Service - Permanent Employees, Retired / Superannuated / Pensioners; Hospitalization for accident & emergency Treatments, OPD, Domiciliary treatment, Maternity, All pre- existing illness; Yes , Group Personal Accidental Insurance Service - Permanent Employees, Contract Employees; Only accidental death (not natural), Permanent total disability, Permanent partial disability, Temporary disabilities , Liability Insurance Service - Employer’s liability and workers' compensation, Director and Officer liability coverage, Comprehensive general liability policies , Marine and Transit Insurance Service - Inland Transit, Marine Cargo Exports/Imports, Marine Cargo Inland, Hull Insurance, Protection and Indemnity Insurance; Land, Sea, Air
Authority Records
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Documents 4
GeM-Bidding-7503757.pdf
Main Document
DOC
OTHER
DOC
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Required Documents
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
Corrigendum Updates
8 Updates Update
Extended Deadline
04-Mar-2025, 10:00 am
Opening Date
04-Mar-2025, 10:30 am
Update
Extended Deadline
03-Mar-2025, 8:00 pm
Opening Date
03-Mar-2025, 8:30 pm
Update
Extended Deadline
03-Mar-2025, 7:00 pm
Opening Date
03-Mar-2025, 7:30 pm
Update
Update
Update
Update
Extended Deadline
03-Mar-2025, 6:00 pm
Opening Date
03-Mar-2025, 6:30 pm
Update
Reverse Auction Schedule
Start
23-Mar-2025, 7:00 pm
End
25-Mar-2025, 10:00 am
Duration: 39 hours
Reverse Auction Document
✅ RA concluded. Check financial results for final rankings.
Technical Results
| S.No | Seller | Date | Status |
|---|---|---|---|
| 1 | ICICI LOMBARD GENERAL INSURANCE COMPANY LIMITED Under PMA | 03-03-2025 17:56:24 | |
| 2 | THE NEW INDIA ASSURANCE COMPANY LIMITED Under PMA | 03-03-2025 19:05:04 | |
| 3 | THE ORIENTAL INSURANCE COMPANY LIMITED Under PMA | 03-03-2025 15:48:50 | |
| 4 | UNITED INDIA INSURANCE COMPANY LIMITED Under PMA | 03-03-2025 17:25:18 |
Reverse Auction Results Final Prices
These are the final prices after the reverse auction event. Prices may be lower than initial bids.
| Rank | Seller | Final Price | Item |
|---|---|---|---|
| L1 | THE ORIENTAL INSURANCE COMPANY LIMITED Under PMA Winner | ₹18,33,72,900 | Item Categories : Assets Insurance Service - Mega Risk Insurance, Erection All Risk (EAR), Contractors All Risk (CAR) |
| L2 | THE NEW INDIA ASSURANCE COMPANY LIMITED Under PMA | ₹18,36,11,980 | Item Categories : Assets Insurance Service - Mega Risk Insurance, Erection All Risk (EAR), Contractors All Risk (CAR) |
🎉 L1 Winner
THE ORIENTAL INSURANCE COMPANY LIMITED Under PMA
Final Price: ₹18,33,72,900
Frequently Asked Questions
Key insights about GOA tender market
What are the eligibility requirements for GEM/2025/B/5933293?
The eligibility requirements include being a registered entity, having verifiable industry experience, and meeting specified turnover criteria. Bidders must upload supporting documents to prove eligibility for any exemption from these criteria. Compliance with all related legal and regulatory frameworks is mandatory to participate in this tender.
What technical specifications must be adhered to in this tender?
Bidders must provide detailed descriptions of their insurance products, including technical specifications outlining coverage areas, exclusions, and support services. It involves addressing necessary compliance requirements, including adhering to industry quality standards, and demonstrating past performance to validate these specifications.
Can you explain the performance security requirements in this tender?
Bidders are typically required to provide a performance security that guarantees their commitment to executing the contract satisfactorily. This is often set as a percentage of the total contract value and serves as a safeguard for the department against non-compliance or unsatisfactory performance.
How must documents be submitted for this tender?
All relevant documents must be submitted electronically through the designated government platform. Accepted document formats include PDF and DOC/DOCX. Bidders must ensure that all submissions are complete and compliant with the documentation requirements outlined in the tender documents.
What benefits are available for Micro, Small, and Medium Enterprises (MSEs) participating in this tender?
MSEs can benefit from preferential treatment in the bidding process, including reduced eligibility criteria and potential financial incentives. The provisions for startups allow them access to larger contracts, helping promote their growth within the defense sector, while also ensuring alignment with 'Make in India' policies.
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Documents 4
GeM-Bidding-7503757.pdf
Main Document
DOC
OTHER
DOC
OTHER
DOC
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