General Insurance Corporation Of India Cyber Insurance Services Tender Mumbai Maharashtra 2026
Bid Publish Date
15-Aug-2026, 6:25 pm
Bid End Date
31-Aug-2026, 4:00 pm
Value
₹1,00,00,000
Location
Progress
Key Highlights
- • Brand/organization: General Insurance Corporation Of India (GIC) under Department Of Financial Services, Mumbai
- • Service category: Cyber Insurance Services including Network Interruption, E&O, Media Liability, IT Theft, Phishing, Identity Theft, Email Spoofing, Malware
- • Estimated contract value: ₹10,000,000; no EMD amount specified
- • Contract flexibility: 50% quantity/duration adjustment at award or during execution
- • Documentation: Mandatory certificates; multiple proof options for past experience (contracts, invoices, client certificates)
- • Financial health: bidder must declare no liquidation/bankruptcy via undertaking
- • Liability: Seller remains liable jointly with assignee/sub-contractor; no unsanctioned sub-contracting
- • Delivery/implementation: Insurance service procurement rather than hardware deployment; focus on coverage terms and service delivery
Tender Overview
General Insurance Corporation Of India (GIC), Department Of Financial Services, seeks cyber insurance services in Mumbai, Maharashtra for risks including network business interruption, phreaking expenses, errors and omissions, media liability, IT theft, cyber stalking, phishing, identity theft, email spoofing, and malware attacks. Estimated value is ₹10,000,000 with a flexible quantity/duration clause allowing up to 50% adjustment at contract award or during execution. No BOQ items are listed, indicating a service-based policy procurement rather than goods. This tender emphasizes compliance with standard bid terms and bidder financial health, with emphasis on past project experience evidence as sufficient proof via multiple document formats. The procurement appears to be insurance coverage with potential service deliverables rather than hardware installations, and it requires bidders to align with corporate governance and risk management expectations.
Technical Specifications & Requirements
- Category: Cyber Insurance Services covering Network Business Interruption, Phreaking Telecall Expenses, Errors and Omissions, Media Liability, IT Theft, Cyber Stalking, Phishing, Identity Theft, Email Spoofing, and Malware Attacks.
- Estimated value: ₹10,000,000; no explicit BOM or device-level specs; service-based risk coverage scope is implied.
- EMD: Not specified; bidders should prepare standard bid security as per ATC and Corrigendum.
- Contract flexibility: Quantity/contract duration may increase up to 50% at issue and post-issue with consent.
- Compliance: Bidders must upload required certificates and demonstrate past experience through contract/invoice documentation or client execution certificates.
- Sub-contracting: Sub-contracting requires prior written consent from the buyer; joint and several liability remains with the primary seller.
- Eligibility: Prohibition on liquidation or bankruptcy; bidders must declare financial standing via undertaking.
Terms, Conditions & Eligibility
- 50% contract quantity/duration adjustment allowed by buyer at signing and during execution.
- Certificates: Upload all sought certificates/documents; missing items may lead to rejection.
- Past Experience: Acceptable proofs include contract copies with invoices and self-certification, client execution certificates, or third-party inspection notes.
- Financial Standing: Not under liquidation or bankruptcy; bidder must submit a confirming undertaking.
- Assignment/Sub-contracting: No assignment or subcontracting without prior written consent; ultimate liability retained by the seller.
- Compliance with Buyer Added Terms and Conditions is mandatory for eligibility.
Key Specifications
-
Cyber insurance coverage categories include Network Business Interruption, Phreaking Expenses, E&O, Media Liability, IT Theft, Cyber Stalking, Phishing, Identity Theft, Email Spoofing, Malware Attacks
-
Estimated contract value of ₹10,000,000; no itemized BOQ
-
50% quantity/duration adjustment clause available at contract issue and during execution
-
Past experience evidence accepted in multiple formats: contracts with invoices, client execution certificates, third-party notes
-
No explicit EMD amount disclosed; bidders should prepare as per ATC requirements and Corrigendum
Terms & Conditions
-
50% adjustment rights for contract quantity/duration at issuance and during execution
-
Mandatory submission of specified financial and experience documents
-
Prohibition on liquidation/bankruptcy; undertakings required
Important Clauses
Payment Terms
Not specified in provided data; bidders to refer to ATC for payment milestones and terms
Delivery Schedule
Service-based insurance coverage; no hardware delivery; terms to be defined in contract
Penalties/Liquidated Damages
Not specified; subject to contract terms under ATC and buyer terms
Bidder Eligibility
-
Not under liquidation, court receivership, or bankruptcy
-
Ability to provide cyber insurance services with relevant past experience
-
Compliance with mandatory certificates and documents as per ATC
Tender Data
Bid Details
Quantity
1
Bid Type
Two Packet Bid
Bid Validity
180 (Days)
Bid Type
Service
Evaluation
Total value wise evaluation
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
Yes
Startup Exemption/Relaxation
Yes
Bid Splitting Applied
No
Requirements
Min. Avg. Annual Turnover
400
Experience Required
3 Year (s)
Arbitration Clause
No
Mediation Clause
No
Additional Tender Data
Commercial Details
Tender Category
Service
Bid To RA
No
Bid To RA Enabled
No
Item Category
Cyber Insurance Services - Network Business Interruption, Cover For Phreaking Telecall Expenses, Errors And Omissions Coverage, Media Liability Coverage, IT Theft, Cyber Stalking, Phishing, Identity Theft, Email Spoofing, Malware Attack, Cyber Extort..
Payment Timelines
Payments shall be made to the Seller within 45 days of issue of service delivery acceptance certificate (SDAC) and on-line submission of bills (This is in supersession of 10 days time as provided in clause 12 of GeM GTC)
Delivery Details
Delivery Locations
1
Delivery Cities
Mumbai
Delivery Pincodes
400020
Delivery Locations
| Consignee | Address | City | State | Pincode | Quantity | Delivery Days | Additional Requirement |
|---|---|---|---|---|---|---|---|
| Sravan Kumar Padala | 400020,170, Suraksha, J Tata Road, Churchgate | Mumbai | Maharashtra | 400020 | Project / Lumpsum Based | - | Total Sum Insured : 1500000000 |
Authority Records
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Documents 5
GeM-Bidding-9761562.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
1
Required Documents
GST registration certificate
PAN card
Past experience proofs (contract copies with invoices, execution certificates, or third-party release notes)
Financial statements or undertaking confirming financial standing (no liquidation/bankruptcy)
Bid security or EMD document as per ATC (if applicable)
Technical bid documents and any OEM authorizations or certifications relevant to cyber insurance services
Frequently Asked Questions
Key insights about MAHARASHTRA tender market
How to bid for Mumbai cyber insurance tender with GIC 2026
Bidders should submit mandatory GST and PAN, provide past experience proofs (contracts with invoices or client certificates), and upload all required certificates. The estimated value is ₹10,000,000, with a 50% adjustment option. Ensure compliance with ATC terms, provide financial undertaking, and avoid liquidation.
What documents are required for cyber insurance services bid in Mumbai
Required documents include GST registration, PAN card, past experience proofs (contract copies or execution certificates), financial statements or undertaking, EMD documentation if applicable, technical bid documents, and any OEM authorizations relevant to cyber insurance services.
What are the eligibility criteria for GIC cyber insurance procurement in Maharashtra
Eligibility requires not being under liquidation or bankruptcy, ability to demonstrate past cyber insurance experience through contracts or client certificates, and submission of mandatory certificates as per ATC. Bidder must guarantee financial health with an undertakings statement.
What is the contract value and adjustment rights for this tender
The estimated contract value is ₹10,000,000. The buyer may adjust contract quantity or duration up to 50% at the time of issue or during contract execution, subject to consent.
What standards or certifications are required for the cyber insurance bid
Specific standards are not listed; bidders should rely on standard insurance procurement certifications per ATC and provide relevant experience proofs and OEM authorizations where applicable.
When is the payment and delivery expectation for this cyber insurance contract
Delivery relates to service provision rather than hardware; payment terms are defined in contract through ATC. Ensure timely service delivery milestones and readiness to satisfy risk coverage terms for the Mumbai region.
What is the process to submit past project experience for the bid
Provide contract copies with invoices and self-certification, execution certificates from clients, or third-party notes to substantiate experience. Ensure documents clearly show scope, value, dates, and service outcomes relevant to cyber insurance.
Are sub-contracting terms applicable for this GIC cyber insurance bid
Sub-contracting requires prior written consent from the buyer. Regardless of consent, the seller remains jointly liable for performance. Ensure any sub-contractor arrangements are disclosed and approved.