Bharat Petroleum Corporation Ltd Insurance Services Tender Mumbai MA - Mega Risk & All Risk Policy 2026

Tender Overview

Bharat Petroleum Corporation Ltd in MUMBAI, MAHARASHTRA invites bids for comprehensive Insurance Services covering Mega Risk Insurance, All Risk Policy, Property Damage, Standard Fire & Special Perils (STFI), and Business Interruption (Loss of Profit). The scope encompasses multi-peril property and casualty cover for BPCL assets, with potential contract quantity/duration adjustments up to 25% at bid/issuance and post-issuance. Bidders must be registered/empanelled with BPCL in the relevant category as of bid opening and comply with the organization’s Integrity Pact. The opportunity targets a full-service insurance partner capable of underwriting high-value asset risk in a Mumbai-based portfolio, with emphasis on financial stability and compliance.

Technical Specifications & Requirements

• Product category: Mega Risk Insurance, All Risk Policy, Fire & STFI, Storm/Typhoon/Hurricane/Tornado, Flood and Inundation, and Business Interruption (Loss of Profit)
• Scope: Multi-peril property damage and business continuity coverage for BPCL assets in Mumbai, Maharashtra
• Eligibility: BPCL empanelment/registration in the required goods/service category; sign integrity pact
• Flexibility: Option clause allows quantity or duration adjustment up to 25% at contract issue; post-issue modification limited to 25%
• Document readiness: Compliance with BPCL terms and submission of required bid documents per T&C
• No BOQ items: No itemized quantities provided; bid should reflect insurance program design and pricing for comprehensive cover
• Standards & compliance: Not specified in tender data; bidders must propose policy framework aligned with standard insurance industry practices

Terms, Conditions & Eligibility

• EMD/Security: Not specified in data; bidders should verify BPCL bid documentation requirements
• Registration: Mandatory BPCL vendor registration/empanelment before bid opening
• Integrity Pact: Upload signed integrity pact as per BPCL policy
• Delivery & activation: Insurance policy effective upon contract award; renewal and administration terms to be defined in final contract
• Contract adjustments: 25% flexibility on quantity/duration; bidders must accept revised contract terms
• Submission readiness: Ensure all bid documents, including OEM authorizations if applicable, are prepared for submission