Invitation for Prequalification as Insurance underwriter/Broker at Nigerian Security Printing and Minting Plc
Nigerian Security Printing and Minting Plc
Invitation for Prequalification as Insurance underwriter/Broker
Introduction:
In preparation for the renewal of all its Insurance Policies for year 2015. The Nigerian Security Printing & Minting, Plc hereby invites proposals from interested reputable Insurance companies and Brokers that wish to participate in Underwriting and Management of its Insurance policies as follows;
The Policies include:
(1) Fire & Special Perils
(2) Consequential Loss on Fire
(3) Commercial Vehicles
(4) Group Personnel accident
(5) Fidelity Guarantee
(6) Workmen Compensation
(7) Goods-In-Transit
(8) Private Motors
(9) Group Life
(10) Marine
(11) Machine Breakdown
Criteria for Appointment:
Part of mandatory requirements includes submission of copies of the following;
(i) Evidence of registration with Corporate Affairs Commission.
(ii) NAICOM approval/Registration to operate
(iii) Evidence of valid reinsurance arrangement for classes of business applied for.
(iv) Evidence of payment of Taxes as at when due (i.e Tax Clearance)
(v) Evidence of certified three (3) years published Audited Accounts (2011, 2012 and 2013) certified by NAICOM.
(vi) Evidence of VAT Registration and remittances.
(vii) Evidence of compliance with (PENCOM) Pension Reform Act.
(viii) Evidence of meeting solvency requirements as prescribed by Insurance Act, 2003.
(ix) Evidence of current membership of the Nigerian Council of Registered Insurance Brokers (NCRIB) (for Brokers).
(x) Evidence of current membership of Nigerian Insurers Association.
(xi) Certified true copy of three (3) years Company’s Annual Returns to CAC.
(xii) Evidence of ITF Registration and Remittances.
(xiii) Evidence of NSITF Registration.
(xiv) PAYE and Evidence of Remittances.
(xv) Comprehensive Company Profile including ownership Structure, Management Team, Technical/Other Staff, registered Addresses, Other contact Details.
(xvi) Evidence of Technical Competence and Relevant Experiences in Similar Projects.
(xvii) Evidence of Financial Capacity and Banking Support.
(xviii) A Statement of Declaration or Affidavit attesting to the fact that none of the bidder’s company Directors/Principal Officers has ever been convicted for any criminal offences/confirmation of Legal Capacity to enter contract.
(xix) Evidence of current and adequate professional indemnity cover (for Brokers).
(xx) A Sworn affidavit certifying that the documents submitted for pre-qualification exercise are not only genuine but correct.
Note that:
- Failure to comply with above requirements would automatically result in disqualification.
- NSPM Plc reserves the right to verify the authenticity of any claim on the document submitted with CAC, NAICOM or relevant bodies.
- NSPM Plc reserves the right to reject any submission that does not meet the criteria without giving any reason to the bidder.
- NSPM Plc is neither committed nor obliged to consider any bidder or to award the contract to any of the prospective bidders.
- NSPM Plc will only correspond with the underwriters/Brokers that are successful in their bids submission.
- NSPM Plc will only correspond with duly authorized officers of the successful bidders and not agents or persons acting on their behalf.
Submission of bid documents:
Only one original copy is to be submitted. The names and mailing addresses of the applicant companies must be clearly marked on the envelope(s) bearing the submission. All the information must be provided in English Language by all applicants.
Applications/Proposals should be addressed to Managing Director/Chief Executive and must be submitted in sealed envelopes clearly marked “Application for Appointment as Insurance Underwriter/Broker” (with a non refundable fee of N20,000.00 in Bank draft drawn in favour of the Nigerian Security Printing & minting Plc) delivered by hand to:
The Company Secretary/Legal Adviser in Room 09 First Floor Nigerian Security Printing & Minting Plc,160, Samuel Ladoke Akintola Boulevard, Garki Abuja” to reach him on or before 12 noon, 19th December., 2014.
Opening of Submission:
Opening of submission will be at 3.pm on 19th December 2014 in room 06, 2nd Floor NSPM Plc, 160 Samuel Ladoko Akintola Boulevard, Garki, Abuja.
Signed: Management
