Mangalore Refinery & Petrochemicals Limited Assets Insurance Service Karnataka All Risk Fire & Perils Policy 2026

Tender Overview

Mangalore Refinery & Petrochemicals Limited invites bids for Assets Insurance Service covering Retail Outlets (249 nos) with a total premium of Rs 299 crore (including GST) and Depots (7 nos) aggregating Rs 25.46 crore under an All Risk Standard Fire and Special Perils Policy as per retail outlet details. The scope includes policy coverage for existing and under-construction outlets, with EAR (Equipment All Risks) cover as per scope of work and BOQ. The tender emphasizes adherence to the scope and special conditions, with optional quantity/duration adjustments up to 25% at contract issue and post-issue amendments. This opportunity pertains to Karnataka, and aligns MRPL’s needs for comprehensive asset protection and premium management.

Targeted for bidders experienced in large-scale government/industry insurance programs, the procurement requires strict compliance with the stated policy framework, premium aggregation, and risk coverage levels. Distinctive aspects include dual coverage for Retail Outlets and Depots, inclusion of GST in premium totals, and EAR scope aligned to existing and under-construction assets. The absence of a BOQ with items signals a consolidated insurance solution rather than itemized equipment-by-equipment quoting. Respondents should tailor their proposals to MRPL’s asset class and risk profile while honoring the 25% quantity/duration adjustment clause.

Technical Specifications & Requirements

• Policy type: All Risk Standard Fire and Special Perils Policy with EAR cover for Retail Outlets under construction and existing assets.
• Coverage scope: Retail Outlets (249 nos) with premium total of Rs 299 crore; Depots (7 nos) with premium total of Rs 25.46 crore; GST included.
• Location: Karnataka (Dakshina Kannada region) for MRPL assets.
• Delivery/implementation: Insurance policy issuance aligned to scope of work and BOQ; EAR coverage as per asset listing.
• ATC emphasis: Quote strictly per scope and SCC; bid to reflect policy limits, terms, and compliance standards.
• Quantity flexibility: Option to increase/decrease contract quantity or duration up to 25% at contract issuance.

Terms, Conditions & Eligibility

• EMD/secure submission: Not specified in data; bidders should follow MRPL-GeM terms for security deposit.
• Experience: Demonstrate capability in large asset insurance programs and government/PSU procurement.
• Delivery timeline: Policy issuance aligned to project scope; no explicit calendar dates provided.
• Payment terms: Not specified; bidders should anticipate premium-based payment terms per MRPL policy.
• Documentation: Compliance with SCC, GST registration, PAN, and appropriate insurance certificates.
• Warranty/penalties: Not specified; follow standard GeM/MRPL at time of contract with typical SLA penalties if applicable.