PAKISTAN STEEL
(Insurance Department )
No.
Inse/08/Cover/2009-2010/
June 14, 2010
Sub:- Quotation for Group Life Insurance
Coverage to the Management
And
Executives of Pakistan
Steel on annual basis, Period 01-07-2010
to 30-06-2011.
Pakistan
Steel intends to invite competitive premium
rates from the Registered and reputable Life
Insurance Companies for provision of Group Life
Insurance Coverage to its 5916 (approx.) Management
and Executives on annual basis effective from
01-07-2010.
2.
The detail of sum Insured and coverage are given below:-
| S.No. |
Designation |
Natural Death |
Accidental Death |
| 1) |
Chairman & Directors |
Rs.10,00,000 |
Rs.20,00,000 |
|
2) |
G.M. & Equivalent |
Rs. 5,00,000 |
Rs.10,00,000 |
|
3) |
DGM, Manager & Dy. Manager |
Rs. 4,00,000 |
Rs. 8,00,000 |
|
4) |
A.M. & J.O. |
Rs. 3,00,000 |
Rs. 6,00,000 |
24
hours Coverage are required against natural/accidental
death, all kind of accidental injuries such
as permanent, partial and temporary disablement
including occupational hazards and terrorism.
3. The interested Life Insurance Companies
are hereby invited to offer their premium rates
in sealed envelop latest by 01-07-2010.
4.
The following technical details may also
be sent in separate envelop on above mentioned
date.
i)
Profile of respective
Insurance Company.
ii)
Certificate from
Securities and Exchange Commission of Pakistan (Insurance Division).
iii)
Annual Audited
report of the company certified by the Chartered
Accountant for previous financial year.
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.
vii)
Last year claim
history (Total claim received, claim settled
and claim remain unsettled).
viii)
ISO Certification
details.
5. Single stage two sealed envelops (separately)
should be provided clearly mentioning on the
face of envelop “technical details and financial
offers”.
6. The Tender must be submitted to Incharge
(Insurance), Barrack No.4, Pakistan Steel, Bin
Qasim, Karachi
in accordance with condition of tender on or
before 11.30 Hours, on above mentioned date.
Only technical details will be opened by tender
opening committee at 12.00 hours on the same
date/day mentioned to above in the presence
of representative of respective participants
(who choose to attend). Financial offer of technically
qualified parties will be opened by the committee
under intimation before them.
7. The technical details and financial
offers to be received after the opening of technical
details 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 successful bidder will deposit Performance Bank Guarantee
of ten percent (10%) of total annual premium
(from ‘A’ rated bank) refundable on expiry of
contract/policy.
9. Pakistan Steel reserves the rights to accept/reject any
one or all the offers as per PPRA rules.
10. Further information if any 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) |
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