Petronet Mhb Limited Insurance Services Tender Bangalore Karnataka 2026 All Risk Policy IS 2013/IS 550 compliant 2027

Tender Overview

Petronet Mhb Limited seeks an insurer for an integrated Assets Insurance Service package in BANGALORE, KARNATAKA. The scope includes All Risk Policy, Money Insurance, Property Damage Cover, Standard Fire & Special Perils Cover, STFI (Storm/Typhoon/Hurricane/Tornado/Flood), and related coverage for a total estimated value of ₹19,177,000. The policy term runs from 22.07.2026 to 21.07.2027, with scope adjustments allowed up to 25% per ATC. Bidder must provide dedicated service support and an escalation matrix. This procurement requires statutory integrity commitments and certificate uploads as part of bid compliance.

Technical Specifications & Requirements

• Insurance coverage types: All Risk, Money, Property Damage, Fire & Perils, STFI
• Policy term: 1 year (22.07.2026–21.07.2027) with 25% scope adjustment potential per ATC
• Geography: Bangalore, Karnataka (local risk exposure for assets under management)
• Provider requirements: Dedicated toll-free service line and formal escalation matrix for service support
• Documentation expectations: Upload integrity pact and all bidder certificates per ATC/Corrigendum; OEM authorizations if required
• Compliance: Adherence to buyer terms and risk management standards; no explicit EMD in data provided
• Key differentiator: Comprehensive insurance mix covering assets, cash, and catastrophe risks within a single policy

Terms, Conditions & Eligibility

• Integrity pact must be signed and uploaded by all bidders
• Dedicated service support with toll-free number and clear escalation path
• Certificates/document uploads required as per bid document, ATC, and corrigendum
• Scope adjustments allowed up to 25% at contract issuance or during execution per ATC
• Policy validity window and conditions to be aligned with project timeline and risk exposure