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Bharat Petroleum Corporation Ltd Mega Risk Insurance Tender Mumbai Maharashtra 2026 - Asset Insurance & All Risk Policy

Bid Publish Date

03-Feb-2026, 9:55 pm

Bid End Date

24-Feb-2026, 5:00 pm

Location

MUMBAI , MAHARASHTRA

Progress

Issue03-Feb-2026, 9:55 pm
AwardPending
Explore all 4 tabs to view complete tender details

Quantity

1

Bid Type

Two Packet Bid

Tender Overview

Bharat Petroleum Corporation Ltd invites bids for a comprehensive mega risk insurance package covering Asset Insurance Service, All Risk Policy, Terrorism Insurance, Standard Fire & Special Perils (FSP), and Business Interruption with related STFI protections. The procurement location is Mumbai, Maharashtra (400002), targeting a multi-line insurance solution for corporate assets. A 25% quantity/duration variation is allowed at issue and post-issuance, signaling flexible coverage sizing. Bidders must be registered with BPCL in the relevant goods/service category by bid opening, ensuring alignment with BPCL’s empanelment rules. An Integrity Pact is mandatory, with a scanned signed copy required at bid submission. Unique emphasis on compliance and streamlined award conditions supports BPCL’s risk management program and insurer selection efficiency.

Technical Specifications & Requirements

  • Coverage types: Asset Insurance, All Risk Policy, Terrorism Insurance, STFI Cover, Storm/Typhoon/Hurricane/Tornado, Flood and Inundation, Business Interruption
  • Geographic scope: Mumbai, Maharashtra
  • Contract flexibility: Option to increase/decrease contract quantity or duration up to 25% at contract issue; post-issue adjustments capped at 25%
  • Registration/Empanelment: Mandatory BPCL registration for bid eligibility
  • Integrity Pact: Upload signed integrity pact per BPCL policy
  • No detailed BOQ; tender emphasizes comprehensive, multi-line risk coverage and compliance with BPCL supplier governance

Terms & Eligibility

  • EMD/ security: Not disclosed in the data provided; bidders should verify BPCL terms at bid opening
  • Registration requirement: Must be registered/empanelled with BPCL for risk insurance services prior to bid opening
  • Documentation: Must submit signed Integrity Pact and proof of BPCL empanelment
  • Delivery/implementation timing: Not specified; bidders should prepare for policy issuance timelines post bid
  • Compliance: Adherence to BPCL procurement rules and integrity standards; no BOQ specifics available, focus on insurance policy scope and governance

Key Specifications

  • Insurance coverage: Asset Insurance, All Risk Policy, Terrorism Insurance, STFI Cover, natural peril inclusions (Storm, Typhoon, Hurricane, Tornado, Flood, Inundation), and Business Interruption

  • Geographic scope: Mumbai, Maharashtra (400002)

  • Contract flexibility: 25% quantity/duration adjustment at issuance; subsequent adjustments capped at 25%

  • Pre-qualification: BPCL registration/empanelment in relevant insurance services

  • Compliance: Upload of Integrity Pact; adherence to BPCL procurement rules

  • Documentation: No BOQ items; emphasis on comprehensive policy terms and service levels

Terms & Conditions

  • BPCL registration/empanelment required for eligibility

  • Integrity Pact must be signed and uploaded with bid

  • Contract quantity/duration may vary up to 25% at issue and after award

Important Clauses

Payment Terms

Not explicitly provided; bidders should confirm premium payment scheduling and agency commissions during bid process

Delivery Schedule

Policy issuance and activation timelines to be clarified during bid; no fixed delivery date published

Penalties/Liquidated Damages

No LD details in data; expect standard insurance procurement penalties contingent on policy implementation failures

Bidder Eligibility

  • Must be registered/empanelled with BPCL for insurance services as of bid opening

  • Compliance with BPCL Integrity Pact and procurement rules

  • Demonstrated experience in multi-line risk insurance programs (Asset, All Risk, Terrorism)

Documents 6

GeM-Bidding-8928253.pdf

Main Document

BOQ Document

BOQ

Other Documents

OTHER

Other Documents

OTHER

Other Documents

OTHER

GEM General Terms and Conditions Document

GEM_GENERAL_TERMS_AND_CONDITIONS

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Required Documents

1

GST registration certificate

2

Permanent Account Number (PAN) card

3

Experience certificates in risk insurance / asset insurance procurement

4

Financial statements or solvency proof

5

Emded/ security deposit documentation (EMD) as per BPCL terms

6

Technical bid documents demonstrating coverage scope

7

OEM authorizations or broker/trustee credentials (if applicable)

8

Signed Integrity Pact as per BPCL policy

9

Empanelment/registration certificate with BPCL for required goods/services

Frequently Asked Questions

Key insights about MAHARASHTRA tender market

How to bid for BPCL mega risk insurance tender in Mumbai 2026?

Bidders must be BPCL-empanelled for insurance services before bid opening, sign and upload the Integrity Pact, and submit required documents such as GST, PAN, financials, and insurance experience certificates. Ensure compliance with BPCL procurement terms and prepare for potential 25% contract variation at issue.

What documents are needed for BPCL asset insurance bid in Mumbai?

Required submissions include GST certificate, PAN card, audited financial statements, BPCL empanelment proof, prior risk insurance experience, EMD documentation if applicable, signed Integrity Pact, and insurance policy capabilities demonstrating multi-line coverage and terrorism risk inclusion.

What coverage types are included in BPCL mega risk insurance tender?

The contract requires Asset Insurance, All Risk Policy, Terrorism Insurance, STFI Cover, plus perils like Storm, Typhoon, Hurricane, Tornado, Flood, Inundation, and Business Interruption coverage, all for Mumbai assets under BPCL risk management program.

What is the eligibility criteria for BPCL risk insurance procurement 2026?

Eligibility requires BPCL registration/empanelment in insurance services, signing the Integrity Pact, and demonstrable experience in multi-line risk insurance. Prepare financials and evidence of prior similar contracts to support turnover and capability claims.

When will BPCL publish the insurance bid deadline in Mumbai?

Bid opening dates are not specified in the data; bidders should monitor BPCL tender notices and ensure registration and Integrity Pact submission ahead of the bid opening window.

What are the payment terms for BPCL insurance procurement in Mumbai?

Specific premium payment terms are not disclosed; bidders should seek clarification during bid submission and align with policy premium financing, broker commissions, and invoicing schedules once the contract is awarded.

How to ensure compliance with BPCL integrity pact for the Mumbai tender?

Obtain the official Integrity Pact file from BPCL, sign it, scan, and upload with the bid. Ensure all terms, anti-corruption measures, and performance commitments are reflected in the submission and subsequent contract.

What standards or certifications are required for BPCL risk insurance bids?

Bidders should provide proof of insurance-related credentials, BPCL empanelment, and demonstrate compliance with BPCL procurement practices. While specific standards like ISO are not stated, integrity and enrollment are essential for eligibility.

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