The Government of the Virgin Islands invites tenders for:
- The Insurance Plan for the Central Administration Complex. Funding for the Contract would be through the Government of the Virgin Islands.
Terms of Reference
The Plan should provide (but not necessarily be limited to) the following benefits:
(a) Insurance coverage based on a value of $32,000,000.00 for the Central Administration Building, Piling, Generator Building, Woodwork Shop, Green House, Fuel Storage Metal Tank, Main Electrical Transformers, Main Water with Service Laterals & Valves, Main Sewer with Service Laterals & Manholes, 1 Electrical Generator 750 KW-737KVA, Fire Sprinkler System, Water Pumps Systems, Elevator, Electrical Main Control System, Electrical and Computer Building Back-up System, Car Parks, Landscaping, 2 250 Tons Central Air Condition Chillers, Demolition and Clearance.
(b) Earthquakes, Sea quakes, Seismic activities
(c) Flood coverage, Tidal surges, Tsunamis, Windstorms
(g) Mud slides and Landslides
(j) Civil Commotion
(k) Malicious mischief
(m) Volcanic Activities (Eruption, Pyro Glastic Flow)
(n) Subsistence of site or liquidation or soil specific to reclaim land
(o) The sum insured must take into consideration, present day value or cost of replacement.
(p) Loss payee must be paid in full in the event of a catastrophe
(q) Removal of rubble in the event of a catastrophic disaster
(r) Relocation expenses
(s) Include liability insurance at least one million dollars ($1,000,000) coverage
Instructions to Tenderers
Tenderers are required to furnish the following:
(a) (i) Valid Insurance License issued pursuant to the Insurance Act 2008
(ii) Copy of Insurance License Application submitted to Director of
(b) Payroll Taxes and Social Security: Tenderers registered in the British Virgin Islands will be required to submit updated Certificates of Good Standing [sample forms included in the Tender Document] to effect that the Tenderer has compiled with the provisions and have fulfilled the obligations under the Social Security Act Ordinance, CAP, 266, Payroll Taxes Act No. 18. Of 2004, and Income Tax Ordinance CAP.206 of the Government of the Virgin Islands. These certificates can be obtained from:-
(i) The Director of Social Security Board; and
(ii) The Commissioner of Inland Revenue
Note: The date of issue indicated on the above-mentioned certificates should be no earlier than one month prior to the date of submission:
(c) Trade License, valid for 2015 and Certificate of Good Standing from
Commercial Registry (if a company).
(d) Copy of proposal form and policy wording, including copy of certificates and endorsements. (Policy wording to be subject to Virgin Islands jurisdiction clause).
(e) Details of world-wide claims handling procedures.
(f) Estimated premium for specific listed coverages and applicable deductibles per coverage.
(g) Evidence of Insurance Company rating for minimum of credit and claims settlement to a standard of Post “A” rating or its equivalent.
Failure on the part of tenderers to enclose the supporting documentation indicated above with each respective tender will render the tender non-responsive on the date of opening of bids.