PAKISTAN STEEL
(Insurance Department)
No:INSE/7/Cover/2012-13/ January 16, 2012
SUB: Quotation of premium for Group Life Insurance
Coverage to Pakistan Steel employees, Period:
01-04-2012 to 31-03-2013.
Pakistan Steel intends to invite competitive premium rates regarding Group Life Insurance coverage for its Regular Workers, Daily Wage Workers and Loanee Employees, separately on annual basis, effective from 01-04-2012.
2. The details of coverage and sum assured is given below :-
i)
Regular Workers.
a)
Sum Assured : Rs.2,00,000/-
b) Number of Regular Workers: 10,443 Approximately
c) Coverage : 24 hours coverage against
Natural/accidental death (including Terrorism) PTD,
PPD & TTD, (Accident).
ii)
Daily Wage Workers.
a) Sum Assured : Rs.2,00,000/-
b) No. of Daily Wage Workers: 554 Approximately
c)
Coverage : 24 hours coverage against
Natural/Accidental death (including Terrorism) PTD, PPD & TTD (Accident).
iii) Loanee Employees.
a) Sum Assured : Different
b)
No. of Loanee Employees : 900 Approximately
c)
Coverage : 24 hours coverage against death
due to any cause.
3. Interested life insurance companies are hereby invited to offer their premium rates separately towards above said three policies in sealed envelop latest by 06-02-2012 (at or before 11.30 Hrs.).
4. The following technical details may also be sent in separate envelope on above mentioned date and time.
i)
Company Profile.
ii)
Certificate from Securities and Exchange Commission of Pakistan.
iii)
Annual Audited report of the company for previous financial year duly certified by the Chartered Accountant.
iv)
Relevant experience of under reference business.
v)
Affidavit indicating none of dispute with clients regarding payment of claims.
vi)
Name of minimum five major clients.
5. Single stage two sealed envelops should be provided clearly mentioning on the face of envelop with technical details and financial offers.
6. Tender must be submitted in accordance with tender condition and must be delivered to Incharge (Insurance), Pakistan Steel, Barrack No.4, Bin Qasim, Karachi, at or before 11.30 Hrs., on above mentioned date. Only technical details will be opened by tender opening committee at 12.00 hours on the same date/day mentioned above in the presence of representative of respective participant (who choose to attend). Financial offer of technically qualified parties will be opened by the committee under intimation before opening.
7. The financial offers and technical details to be received after the above deadline shall not be entertained. Telegraphic/telex/fax bids shall not be accepted. The detail of tender is also available at the following web-site.
Pakistan Steel Website www.pak.steel.com.pk
PPRA Website www.ppra.org.pk.
8. The succeed bidder will hereto deposit Performance Bank Guarantee of ten percent (10%) of total annual premium (from ‘A' rated bank) refundable on expiry of contract/policies.
9. Pakistan Steel reserves the rights to accept/reject any one or all the offers as per PPRA rules.
10. Any information in this regard is required may please be contacted to Incharge (Insurance) at above given address and following Telephone Nos.
99264222, 99264133 & 34750271 Ext. 4913 & 4849, Fax No.34750156
( SOHRAB ALI )
Incharge (Insurance) |
