Invitation for pre-qualification as Insurance Underwriter/Broker at Transmission Company of Nigeria (TCN)
Transmission Company of Nigeria (TCN)
Invitation for pre-qualification as Insurance Underwriter/Broker
In preparation for the renewal of all its Insurance policies against year 2014, the TRANSMISSION COMPANY OF NIGERIA (TCN) hereby invites applications/proposals from interested reputable insurance companies and brokers that wish to participate in Underwriting and Management of the Transmission Company of Nigeria’s insurance policies.
The policies include:
1. Motor Vehicle Insurance
2. Marine Insurance
3. Aviation Insurance
4. Group Life Assurance
5. Group Personal Accident Insurance
6. Public Liability Insurance
7. Goods in transit Insurance
8. Combined All Risk Insurance Policy
9. Fidelity Guarantee Insurance Policy
10. Directors and Officers Liability Insurance
Criteria for Appointment:
To be eligible, interested companies are required to provide the following:
1. Evidence of registration with Corporate Affairs Commission (CAC).
2. NAICOM Approval/Registration to Operate.
3. Evidence of valid reinsurance arrangement for classes of business applied for.
4. Evidence of payment of Taxes as at when due (i.e. Tax clearance).
5. Evidence of certified three (3) years published Audited Accounts (2010, 2011 & 2012).
6. Evidence of Compliance with Pension Reform Act
7. Evidence of meeting Solvency Requirements as prescribed by Insurance Act 2003.
8. Management Profile.
9. Evidence of current membership of Nigeria Insurers Association.
10 Evidence of current membership of the Nigerian Council of Registered Insurance Brokers (NCRIB) (for Brokers).
11 Evidence of VAT registration.
12 Evidence of similar appointment by similar organizations.
13. Evidence of Compliance with Industrial Training Fund (ITF) Amendment Act.
14. Evidence of Professional Indemnity Cover (for Brokers).
15 Original copies of documents would be made available for sighting when required.
16. A sworn affidavit certifying that the documents submitted for the pre-qualification exercise are not only genuine but correct.
- Failure to comply with the above requirements would automatically result in disqualification
- TCN reserves the right to verify the authenticity of any claim on the documents submitted.
- TCN reserves the right to reject any document that does not meet the criteria without giving any reason.
- Only Insurance Companies/Brokers that have been found suitable will be appointed.
Submission of 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 submissions. All the information requested must be provided in English Language by all applicants.
Failure to provide information/supporting document that is essential for the evaluation of applicant’s qualifications, or to provide timely clarification or substantiation of the information supplied, may result in disqualification of the applicant.
Applications / proposals should be submitted in sealed envelopes clearly marked “APPLICATION FOR APPOINTMENT AS INSURANCE UNDERWRITER / BROKER”, delivered by hand to:
General Manager (Procurement) TCN,
Room 522, PHCN Headquarters,
14 Zambezi Crescent, Maitama,
To reach him on or before 5.00p.m Friday 18th October, 2013.
Opening of Submissions:
Opening of applications will be at 10.00 a.m. Tuesday 22nd October, 2013 in the Auditorium, 2nd Floor, PHCN Headquarters, No. 14 Zambezi Crescent, Maitama, Abuja, Nigeria.
For further information and/or clarification, please contact the following e-mail address: firstname.lastname@example.org
Management Transmission Company of Nigeria