REQUEST FOR INSURANCE TENDERS

TENDERS FOR FIRE & PERILS AND MACHINERY BREAKDOWN & BUSINESS INTERRUPTION INSURANCE

The B.V.I. Electricity Corporation is inviting tenders for its Fire & Peril and Machinery Breakdown and Business Interruption insurance policy for its physical assets located at Long Bush, Pockwood Pond, Tortola and the Settlement, Anegada Power Stations including its Substations for the period March 9th, 2023 to March 9th, 2024.

For this purpose, please find the specific details of risk values for each location on the attached schedule.

Your tender should include the following:

1. Four separate and distinct quotations inclusive of policy terms and conditions:

     a) based on values at 100%

     b) based on values at 80%; and

2. Required coverage for Business Interruption:

     a) based on $4 million on a first loss basis

     b) based on $5 million on a first loss basis.

3. Clearly defined procedures in the event of a claim.

4. Clearly defined sub-limits with various options.

Interested Companies can collect a “Tender Invitation Package” from the BVIEC Front Desk between the hours of 8:30 a.m. to 4:30 p.m. on Mondays through Fridays.

The tenders must be submitted in a sealed envelope marked “Tender for Fire & Perils and Machinery Breakdown, and Business Interruption Insurance” and addressed to:

The General Manager

B.V.I. Electricity Corporation

P.O. Box 268

Road Town, Tortola VG 1110

British Virgin Islands

  Closing date for tenders is February 15, 2023 at 3:00 p.m.

All queries should be sent formally in writing no later than a week prior to the closing date.