Hindustan Aeronautics Limited Insurance Coverage for Welders Man Chamber Koraput Odisha 2026-27 Year IRDAI Public Sector

Tender Overview

Hindustan Aeronautics Limited invites bids for Annual Insurance Coverage for 11 welders inside the Man Chamber welding equipment at HAL, Koraput, Odisha, for the FY 2026-27. The contract duration is a single year. The opportunity targets effective risk mitigation for hazardous welding operations within a defense-production environment. The insurer must be a Public sector/Govt. General Insurance Company under IRDAI to ensure regulatory alignment and robust claim handling. The scope is strictly defined to cover 11 welders, highlighting a focused risk pool and predictable annual premium impact for budgeting. The estimated contract value is ₹97,999, signaling a compact but essential coverage requirement. Unique aspects include the defense procurement context and IRDAI-regulated public sector eligibility, with no BOQ items to quantify physical deliverables beyond insurance coverage. Ensure bid readiness by confirming insurer eligibility and readiness to insure eleven personnel under the specified term.

Technical Specifications & Requirements

• Policy scope: Insurance coverage for 11 welders inside the Man Chamber welding equipment.
• Period: 1 year coverage aligned to FY 2026-27.
• Eligibility: Insurance provider must be a Public sector/Govt. General Insurance Company under IRDAI.
• Location/context: Koraput, Odisha facility under HAL’s Department of Defence Production.
• Compliance signals: IRDAI regulation adherence; no external BOQ items.
• Value cue: Estimated value around ₹97,999; premium budgeting should reflect annual risk exposure for the 11 personnel.
• Tender focus: Regulatory compliance, prompt claim settlement capability, and alignment with HAL’s security/defense environment.

Terms, Conditions & Eligibility

• EMD / security deposit: Not specified in the data; bidders should verify with HAL procurement.
• Experience criteria: Preference for insurers with public sector status and IRDAI registration; no explicit years of operation disclosed.
• Submission readiness: Confirm IRDAI licensing, ability to insure 11 welders for the Man Chamber operation, and furnish standard corporate documents as part of bid.
• Delivery/activation: Insurance coverage to commence for the FY 2026-27 period upon contract award and policy issuance.
• Payment terms: Not detailed in the provided terms; bidders should seek HAL guidance during bid clarification.
• Warranty/Support: Not specified; bidders to outline service level expectations and claim handling timelines in proposal.