NTPC Sail Power Company Ltd Group Personal Accident Insurance Tender India 2026 IRDAI Certified - 25% ATC

Tender Overview

The opportunity is issued by NTPC Sail Power Company Ltd for a Group Personal Accident Insurance Service contract. Estimated value is ₹280,000. The procurement location is not specified in the data. A key bid condition is IRDAI registration proof, confirming the insurer’s regulatory approval. The buyer may adjust contract quantity or duration up to 25%, both before and after contract award, requiring bidders to accept revised terms. The ATC clause binds bidders to the revised scope. This tender emphasizes nationalized insurer participation and IRDAI compliance.

Technical Specifications & Requirements

• Product/service: Group Personal Accident Insurance for employees
• Insurer eligibility: IRDAI registration proof required (documentary proof to be submitted)
• Insurance scope: coverage for employees under a single contract; no BOQ items are listed, indicating a service-based procurement
• Quantity/Value cues: Estimated value ₹280,000; no explicit unit quantity; batch pricing and renewal terms may apply
• ATC emphasis: Nationalized insurer requirement; ensure compliance with regulatory and standard insurance guidelines
• Standards/certifications: IRDAI registration is mandatory; no other standards specified
• Bid structure: Flexible quantity/duration adjustment up to ±25%; acceptance of revised terms is mandatory
• Delivery/implementation: Service activation likely post-award; exact timelines not disclosed

Terms, Conditions & Eligibility

• EMD: Not specified in data; confirm with tender documents
• Eligibility: Insurer must hold IRDAI registration; nationalized insurer preferred
• Delivery terms: Insurance service to employees under a single contract; delivery cadence not detailed
• Payment terms: Not disclosed; typically via insurer billing post-issuance; verify in terms
• Documentation: Submit IRDAI registration proof, company registration details, and prior experience in group insurance
• Penalties: Not detailed; standard contract penalties may apply for non-performance
• Clause: Quantity/duration adjustments up to 25% at issue and post-issuance