Housing and Urban Development Corporation Ltd Insurance Tender Patna Bihar All Risk Policy STFI Earthquake 2026

Tender Overview

The Housing And Urban Development Corporation Ltd seeks an all-risk assets insurance policy for properties in Patna, Bihar. The scope includes Standard Fire & Special Perils (STFI), Terrorism, Earthquake and optional Storm, Typhoon, Hurricane, Tornado, Flood and Inundation coverage. The bidder must hold an IRDA General Insurance license, comply with IRDA price guidelines, and guarantee no premium rate increases during the contract. A 25% quantity/term variation clause is allowable, and the insurer must confirm the quoted premium covers all risk classes listed. The absence of a BOQ suggests a comprehensive policy quote rather than itemized line items. The winning bidder should be prepared for a lump-sum service approach and IRDA-aligned terms.

Technical Specifications & Requirements

• Organization: Housing And Urban Development Corporation Ltd (HUDCO)
• Location: Patna, Bihar 800001
• Policy scope: All Risk/Assets Insurance, including STFI and optional natural calamity cover
• Mandatory licenses: IRDA General Insurance License; price quotes aligned to IRDA guidelines
• Coverage specifics: Standard Fire & Special Perils, Terrorism, Earthquake; optional Storm/Typhoon/Hurricane/Tornado floods
• Pricing flexibility: up to 25% variation in contract quantity or duration; lump-sum arrangement permissible
• Certificates: Ensure upload of all required certificates/documents as per bid document, ATC, and Corrigendum
• BoQ absence: No BOQ items; emphasis on a holistic policy proposal and compliance
• ATC/ATC clauses: Must reflect bidder undertakings related to IRDA license, premium stability, and comprehensive risk coverage

Terms, Conditions & Eligibility

• EMD/guarantees: Not disclosed; bidders must meet standard bid security requirements as per terms
• Delivery/implementation: Policy issuance and activation aligned to contract start; no post-award premium increases during term
• Payment terms: Standard insurance contract terms; ensure clarity on premium payment schedule and any compliance deposits
• Documentation: Upload IRDA license proof, GST/PAN, experience proofs, financials, and OEM/authentication where required
• Jurisdiction: Bid terms aligned to HUDCO policies and IRDA regulations; adherence to government procurement norms