Rajiv Gandhi Centre For Aquaculture Fire Insurance Tender Department of Commerce STFI Earthquake 2025

Tender Overview

Rajiv Gandhi Centre For Aquaculture invites bids for Assets Insurance Service - Fire Insurance with covers for Standard Fire & Special Perils, Storm/Typhoon/Hurricane/Tornado/Flood and Inundation (STFI), Earthquake, and Cyclones and other natural calamities; optionally including related extensions. Estimated value: ₹248,538. Location is not disclosed in the data; procurement targets risk transfer for government assets under the Department of Commerce, with the objective to secure comprehensive multi-peril fire insurance coverage. The scope emphasizes a single or minimal panel of insurers capable of handling government risk profiles and policy administration. A notable clause allows a 25% adjustment to contract quantity or duration at contract issuance and post-award, binding bidders to revisions. This tender requires careful alignment to multi-risk insurance terms and government procurement standards.

Technical Specifications & Requirements

• Coverage: Standard Fire & Special Perils, STFI, Earthquake, and Cyclones and other natural calamities; optional extensions noted.
• Value: ₹248,538 estimated risk value; no BOQ items identified.
• Specifications: No explicit technical specs published; bidders must align to standard government fire insurance policies and multi-peril riders.
• Policy components: Property asset insurance, risk transfer, policy wording, premium calculations, and renewal terms.
• Provider capabilities: Ability to issue government-backed fire insurance with perils coverage and catastrophe extension; compliance with applicable insurance regulations.
• Documentation: Requires policy drafting, endorsements, and preferred insurer credentials as per government procurement norms.

Terms, Conditions & Eligibility

• Quantity/Duration: Can be increased up to 25% at issue and after award; bidder must accept revised scope.
• EMD/Security: Not specified in the data; bidders should anticipate standard bid security mechanisms per government tender practices.
• Delivery/Activation: Insurance policy activation aligned with contract signing; renewal and endorsement terms to be clarified during final agreement.
• Documentation: Standard submission of insurer credentials, GST, PAN, financials, prior experience in government risk transfer preferred.
• ATC/ATD: An uploaded AtC document exists; bidders should review for any additional conditions.
• Penalties: Liquidated damages or penalties not explicitly stated; ensure alignment with policy compliance and timely issuance.