The West Bengal Power Development Corporation Limited

(A Government of West Bengal Enterprise)

CIN No. U40104WB1985SGC039154
Registered & Corporate Office: Bidyut Unnanyan Bhaban
Plot No. : 3/C, L.A. Block, Salt Lake City, Sector – III, Kolkata : 700 106.

NOTICE INVITING E-TENDER (NIT) NO.

WBPDCL/CORP/NIT/E2123/25-26
DATED 09.09.2025

PUBLISHED ON
TENDER DOCUMENT FOR

MEGA ALL RISK PACKAGE INSURANCE POLICY AND

BURGLARY & HOUSEBREAKING INSURANCE POLICY

FOR
SAGARDIGHI THERMAL POWER PROJECT THROUGH
E-TENDERING

ON QCBS BASIS
FOR ONE YEAR PERIOD w.e.f. 02.12.2025 TO 01.12.2026

Intermediary: AON Risk Insurance Brokers India Private Limited

 INFORMATION TO THE BIDDER

INVITATION OF PROPOSAL (THROUGH e-TENDERING) FOR MEGA ALL RISK

PACKAGE INSURANCE POLICY AND BURGLARY & HOUSEBREAKING INSURANCE
POLICY ON QCBS BASIS FOR

SAGARDIGHI THERMAL POWER PROJECT (SgTPP) THROUGH E-TENDERING

ON QCBS basis

INTRODUCTION AND INVITATION

Dear Sir(s),

The WEST BENGAL POWER DEVELOPMENT CORPORATION LIMITED intends to invite e-

tender for procurement of Mega All Risk Package Insurance Policy and Burglary &
Housebreaking Insurance Policy for the Assets of Sagardighi Thermal Power Project
(SgTPP), P.O.: Monigram, Dist.: Murshidabad (WB), Pin: 742237 from the insurer of
WBPDCL for a period of one year with effect from 00:00:00 Hours of 02.12.2025.

1. Title of the NIT : MEGA ALL RISK PACKAGE INSURANCE POLICY AND
BURGLARY & HOUSEBREAKING INSURANCE
POLICY FOR SAGARDIGHI THERMAL POWER
PROJECT (SGTPP) THROUGH E-TENDERING ON
QCBS basis
2. NIT No. & Date : WBPDCL/CORP/NIT/E2123/25-26 DATED
09.09.2025
i) Publishing Date : 15.10.2025 at 15:00 hrs.
Document Download : 15.10.2025 from 16:00 hrs.
ii)
Start date
iii) Queries submission : 29.10.2025 Up to 15:00 hrs.
end date
iv) Pre-bid Meeting date : 31.10.2025 at 11:00 hrs.

v) Queries clarifications : 12.11.2025 within 16:00 hrs.

deadline
vi) Bid submission start : 12.11.2025 from 17:00 hrs.
date
vii) Bid submission end : 15.11.2025 up to 17:00 hrs.
date
viii) Technical Bid opening : 18.11.2025 at 10:00 hrs.
date
3. Scope of Work : Detailed in SECTION-III : Particulars
4. Name, Designation, The General Manager (M&C) , Corporate
Address of the : The West Bengal Power Development Corp. Ltd.
tendering authority Bidyut Unnayan Bhaban, Plot No. 3/C LA-Block,
Sector-III, Bidhannagar,Kolkata-700106,
Email id: ajana@[Link]
5. Address for The Sr. Manager (IMP, C&I), Corporate,
Communication The West Bengal Power Development Corporation
Limited
: Bidyut Unnayan Bhaban, 1st Floor, 3/C, LA Block,
Sector-III, Bidhan Nagar, Kolkata-700106.
Contact No: 8336903729
Email id: bsantra@[Link]
With a copy (cc) to:
schakraborty01@[Link]
Contact No. 9433430567
Contents :~
Information to the Bidder................................................................................................................................... 2
Introduction............................................................................................................................................................................... 6
Instruction to the Bidders ................................................................................................................................. 6
 General Guidance for E-tendering ................................................................................................................... 8
 Eligibility Criteria /Qualifying Requirement (QR) .................................................................................. 8
 Cost of Bidding ............................................................................................................................................................ 10
 Clarification of the Bidding Document ....................................................................................................... 10
 Amendment of Bidding Document ................................................................................................11
 Submission of Tender Document ................................................................................................................... 12
 Cover 1 : Documents : Technical Bid ......................................................................................................... 13
 Cover 2 : Financial Bid ........................................................................................................................................ 14
 Conditional and Incomplete Tender ............................................................................................................. 15

 Information to Bidders ............................................................................................................................................ 16

 Opening & Evaluation of Bid............................................................................................................................. 17
 Technical Bid Evaluation Methodology ............................................................................. 18
 Financial Bid Evaluation Criteria ................................................................................................................... 19

 Evaluation Criteria for QCBS… ..................................................................................................... 20

 Validity of Bid............................................................................................................................................................... 20
 WBPDCL`S Right to Accept Whole or Part of the Tender ............................................................... 21

 Payment of Brokerage ....................................................................................................................... 21

 Award of Contract:..................................................................................................................................................... 21
 Rejection of Bid ........................................................................................................................................................... 23
 Cancellation of Tenders......................................................................................................................................... 23

 Deviations: ...................................................................................................................................................................... 23
 Sum Insured Increase/Decrease of Policy.............................................................................. 23
 In case Midterm Change of Rating Methodology................................................................... 24
 Loss adjusters… ............................................................................................................................... 24
General Conditions of Contract.....................................................................................................................25
 Scope of Insurance Policies ................................................................................................................................ 25

 Controlling Officer..................................................................................................................................................... 35
  Time of Completion................................................................................................................................................... 35
 Force Majeure .............................................................................................................................................................. 36
 Jurisdiction .................................................................................................................................................................... 37
 Settlement of Disputes ........................................................................................................................................... 38

 Confidentiality .............................................................................................................................................................. 38

 Surviving Obligation ................................................................................................................................................ 38

 Blacklisting ........................................................................... 38
 General condition ..................................................................................................................................................... 39
Particulars ..................................................................................................................................................................40
 List of assets ................................................................................................................................................................. 40
 Claim Settlement Procedure ............................................................................................................................. 43
 Premium Vs. Claim History ............................................................................................................................... 45
 Form F-1 Price Schedule................................................................................................................................. 46
 Form F-2 Declaration on the Re-insurance Arrangement on Letterhead of the
Bidder .......................................................................................................................................................................... 47
 Form F-2.1 Treaty Re-insurance Support Letter ............................................................................... 48
 Form F-2.2 Facultative Re-insurance Support Letter .................................................................... 49
 Form F-3 Self-Declaration ................................................................................................................................. 50
 Form F-4 Indemnity Certificate ...................................................................................................................... 51
 Form F-5 Memorandum of Understanding ............................................................................................ 52
 Form F-6 Undertaking of Non-cartelization............................................................................................ 53
 Form F-7 Declaration ......................................................................................................................54
 Annexure –I Bidder Information Sheet....................................................................................................... 55
 Annexure – II Declaration ................................................................................................................................... 57
 SECTION-I
INTRODUCTION TO BIDDERS

1.0 INTRODUCTION:

The West Bengal Power Development Corporation Limited (WBPDCL) is a company,

owned by the Government of West Bengal with the goal to carry on inter alia the
business of electric power generation and supply in the state of West Bengal, India.
The main Thermal Power Plants under WBPDCL are in Sagardighi, Bakreswar,
Kolaghat, Santaldih and Bandel. Further details about WBPDCL can be accessed
through our website – [Link].

Overview: Sagardighi Thermal Power Project site is located at Manigram Village, 13

KM north of Sagardighi town by the side of the SMGR (Sagardighi-Manigram-Gankar-
Raghunathganj) Road at a distance 20 KM from National Highway 34 in Murshidabad
District, West Bengal and around 240 KM from Kolkata. The nearest Rail Station is
Manigram adjacent to the site on Bandel- Barhawara branch line and 6.5 KM from
Sagardighi Railway Station on Sainthia- Azimgunj line of Eastern Railway.

The First Phase (2X300MW) Main Plant Package was awarded to M/s DEC, China. In
the Second Phase(2X500MW, Sub-critical units) Main Plant Package was awarded to
M/s BHEL, INDIA and both the stages are in operation now.

LOA for i) Supply Contract for Main Plant and Equipment including Tools and
Tackles and Mandatory Spares and ii) Service Contract for Main Plant Turnkey
Package (SGPROJ3) of Extension Unit : 5, Phase iii, (1x660 MW, Supercritical Unit)
of Sagardighi Thermal Power Project w.e.f. 01.07.2020 has been awarded to BHEL
vide Memo No. WBPDCL/GM(M&C))/P210/310 dated 12.06.2020 – may get
operational during the current Policy period – 3rd Quarter of FY 2025-26.
Important dates in the History of SGTPP :

Unit Synchronization COD

1 21.12.2007 07.09.2008
2 21.07.2008 06.11.2008
3 31.03.2015 01.07.2016
4 15.10.2015 20.12.2016
5 To be informed as and when COD
is declared
 SECTION –II
INSTRUCTION TO THE BIDDER
1) GENERAL GUIDANCE FOR E-TENDERING
The bidders are requested to log on to the website [Link] to
participate in the bid.
 Registration of Bidders
Bidders willing to take part in the process of e-tendering are required to obtain
Digital Signature Certificate (DSC) from any authorized Certifying Authority (CA)
under CCA, Govt. of India. (viz. nCode Solution, Safescrypt, e-Mudhra, TCS, MTNL,
IDRBT) or as mentioned in e-tendering portal of GOWB [Link]
DSC is given as a USB e-Token. After obtaining the Class II/III Digital Signature
Certificate (DSC) from the approved CA they are required to register the Digital
Signature Certificates through the registration system available in the website.
 Collection of Tender Documents
The bidders will have to download the tender documents from the website
[Link] directly with the help of the e-Token provided. This is the
only mode of collection of tender documents.
2) ELIGIBILITY CRITERIA/QUALIFYING REQIUREMENT(QR)
ELIGIBLE BIDDERS:- The bidder shall fulfill the following criteria for
qualifications General Qualifying Criteria :
Sl No Criteria Documents Required

The bidder should be a registered Copy of license/ Latest Money

Indian Insurer in accordance with Receipt for renewal of license to
the Insurance Act and approved be submitted
1 by IRDAI (Insurance Regulatory &
Development Authority of India)
as Non - Life Insurer and should
have a valid License to carry out
Insurance business in India
under non-life insurance sector.
The bidder should not be banned Self-declaration in original on
/de-listed/black listed/debarred Company’s Letter head in this
from business by any PSU or regard to be provided as per
2 Government Department as on Form F-3 of Bid document.
date on which this NIB is issued.
 3 The Gross Direct Premium (GDP) NL-4 upto 4th Quarter of FY
from Fire Line of Business of the 2024-25 (Bidder need not to
bidder should not be less than submit the said document as
400 Crores for FY-2024-25 the same to be fetched by
WBPDCL from the Public
Disclosure of IRDAI)
The bidder should quote Self-declaration in original on
minimum for 40% leadership Company’s Letterhead along
capacity of total Sum Insured with RI support letter as per
4 (PD+BI combined). Form F-2, F-2.1 and F-2.2 of
the BID document.
Note::

1. L1 Bidder will have to

accept up to the capacity
40% or above as quoted
and arranged by them. For
the balance capacity rest of
the bidders will be offered
at L1 price. If the entire
remaining capacity is
accepted by the bidders,
the same will be
distributed at the
discretion of WBPDCL
placement of 100% risk at
L1 price.

2. WBPDCL reserves the right

to decide percentage of
share allocation to leader
as well as coinsurers at
their discretion.
Until the BkTPP claim amounting to INR 32 Crs. approx is settled by New
India Assurance Co. Ltd., PSU Insurers will not be considered for any share
of business.

2.1 Undertaking for Non-Cartelization : The pricing of products should be based on

appropriate data and with technical justification only. Thus the bidder(s) will not
enter with other bidders into any undisclosed agreement or understanding, whether
formal or informal. This applies in particular to prices, specifications, certifications,
submission or non-submission of bids or any other actions to restrict
competitiveness or to introduce cartelization in the bidding process. In this regard,
bidder should submit an undertaking as per FormF-6.
The Bidder shall fulfill the said Qualifying Requirements satisfactorily as
 stipulated hereinabove and submit documentary evidences as applicable.
Authenticated scan copies of all documents are to be uploaded in the designated
locations of the e-tender portal and original documents of above copies are to be
produced on demand.

3) COST OF BIDDING
The bidder shall bear all costs associated with the preparation and delivery of its
bid online. WBPDCL will in no case be responsible or liable for those costs
regardless of the outcome of the bidding process.

4) THE BIDDING DOCUMENTS

4.1 UNDERSTANDING OF THE BIDDING DOCUMENTS

4.1.1 The WBPDCL is not responsible for the completeness of the Bidding Document and
its addenda/amendments, if they were not obtained directly from the source stated
by the WBPDCL in the Invitation for Bids.

4.1.2 The Bidder is expected to examine all instructions, forms, terms, and specifications
in the Bidding Document. Failure to furnish all information required by the Bidding
documents or submission of a bid not substantially responsive to the Bidding
documents in every respect may result in the rejection of the Bid.

4.2 CLARIFICATION OF THE BIDDING DOCUMENT

4.2.1 Bidder shall examine the Bidding Document thoroughly in all respect and if any
conflict, discrepancy, error or omission is observed, the bidder has to submit the
related queries through email within the specified date as mentioned in the date
schedule.
The WBPDCL will assume no responsibility for any understanding or
representations concerning conditions made by any of its Officers or Agents prior to
award of the Contract. No claim whatsoever for adjustment to the contract awarded
under the specification and documents mentioned hereunder will be entertained by
WBPDCL neither any change in the time schedule of the Contract nor any
adjustments arising thereof shall be permitted by WBPDCL, which arises out of
 lack of such clear knowledge or its effect on the execution of the Contract on the
part of the Bidder. Any failure by the Bidder to comply with the aforesaid shall not
excuse the Bidder, after subsequent award of contract, from performing the work in
accordance of the contract.
Bidders are requested to resolve all their clarifications /queries to the Bidding
document without any deviation and submit their Bid in total compliance to the
Bidding document without any deviation/stipulation/clarification.

4.3 AMENDMENT OF BIDDING DOCUMENTS

4.3.1 At any time prior to the deadline for submission of bids, WBPDCL may, for any
reason whether at its own initiative or in response to a clarification requested by
prospective Bidders, modify the Bidding document by issuing
addenda/amendment.

4.3.2 The amendment/addenda shall be part of the Bidding documents, and will be
notified electronically to all prospective bidders and shall be binding on them. The
Bidders will be required to acknowledge receipt of any such amendment to the
Bidding documents only by uploading the Annexure-II duly signed and sealed.

4.3.3 In order to provide time to prospective Bidders to take into account such
amendment in preparing their bids, WBPDCL may, at its discretion, extend the
deadline for the submission of Bids.

4.3.4 Owner shall in no way responsible if the bidder fails to take notice or act in
accordance to the addenda/amendments issued time to time.

4.3.5 WBPDCL may at its discretion, extend the deadline for the submission of bids by
amending the Bidding documents, in which case all rights and obligations of
WBPDCL and bidders previously subject to the deadline, will thereafter be subject
to the deadline as extended.
5. SUBMISSION OF TENDER DOCUMENTS

PRE-BID MEETING :

A pre-bid meeting with the prospective bidders shall be held at the Corporate Office
of West Bengal Power Development Corporation Limited, Bidyut Unnayan Bhaban,
3/C LA Block, Sector-III, Salt Lake City, Kolkata-700106 for providing any
clarification to the bidding documents.
The bidders shall disclose/submit their queries in writing or by e-mail to reach the
owner at the address indicated above preferably not later than 02 (two) days before
the pre-bid meeting enabling WBPDCL to clarify/resolve those well before last date
specified for bid submission in order to avoid taking of unscrupulous deviations by
the bidders while submitting/uploading the bid.

The bidders submitting their queries through e-mail shall be sent the link for
Microsoft Teams via return e-mail for participation in the online pre-bid meeting at
the stipulated date mentioned.
On conclusion of the pre-bid meeting, queries, clarifications received from bidders,
either prior to or during pre-bid meeting shall be summarized and amendments, if
required shall be prepared accordingly. After pre-bid meeting, amendments to the
bid documents, if any, shall be hosted on WBPDCL’s e-tendering portal:
[Link]

A) Tenders are to be submitted online through the website [Link]

All the documents uploaded by the Tender Inviting Authority form an integral part
of the bid.

i) Bidders are to keep track of all the addendum / corrigendum issued against the
particular NIT and download copies of the above documents and merge the
addendum / corrigendum with respective NIT if applicable. No need to upload the
published NIT documents, instead upload the declaration as per format given in
Annexure - II.

ii) Bidders are required to upload all the tender documents along with the other
documents, as asked for in the tender and the agendum / corrigenda of the tender,
 if published, through the above website within the stipulated date and time as
given in the Tender.

ii) The documents uploaded must be scanned against any virus and digitally signed
using the Digital Signature Certificate (DSC).

B) Bidders must download tender specific documents (NIT, BOQ etc) from
[Link] prepare the required documents and upload the scanned
documents in Portable Document Format (PDF) to the portal in the designated
locations viz.

Cover #1: “Pre Qualification/Technical” for uploading documents.

Cover #2: “Finance” for BOQ sheet duly filled up. Bidders need to fill up the rate of
item in the BOQ, in the designated cell of the BOQ spreadsheet and upload the same
in designated location of Cover #2.
 The bid and other supporting documents, printed literature uploaded by the
bidders should be in only English language. Bid in any other language is
liable to be rejected.
C) No alteration in the Bid or any addition by way of special stipulation will be
permitted.
D) Any Bid which is incomplete, ambiguous, or not in compliance with the Bid
Document is liable to be rejected.

6. COVER 1: DOCUMENTS: TECHNICALBID

6.1 Documents to be submitted to fulfill the eligibility criteria as per clause 10.1.3
(Technical bid evaluation methodology)
i) Partnership Deed/MOA/Trade License/Company Registration Certificate any other
statutory document as required.
ii) Declaration as per Annexure –II towards acceptance of the NIT, GCC and other
information uploaded by WBPDCL regarding this NIT
iii) PAN Card
iv) GST Registration Certificate with latest challan submitted
v) Provident Fund Registration( Copies to be furnished)
vi) IT Return of AY 2023-24, AY 2024-25 & AY 2025-26.
 vii) Audited Balance Sheet and Profit & Loss account (duly certified by the CFO of the
bidder with sign and seal) for FY 2022-23, FY 2023-24 & FY 2024-25.
viii) Bidder information sheet as per Annexure-I furnishing name, residential address,
phone no, e-mail address and place of business of person (s) authorized to sign the
tender with signature of appropriate authority with designation and seal of the
Company.
Authenticated scanned copies of all documents are to be uploaded in the
designated locations of the e-tender portal and original documents of above copies
are to be produced on demand.

N.B.: WBPDCL reserves the right to reject any bid if any or all of these certificates
have not been submitted or if the certificate from statutory authorities indicating
exemption or non-applicability with regard to any as above has not been submitted.
The WBPDCL reserves the right to reject any tender or all tenders received at its
discretion without assigning any reason whatsoever. The WBPDCL is not
necessarily bound to accept the lowest offer.
The milestone dates provided for the tender (bid submission end date,
technical bid opening date etc.) will not be extended and remain fixed unless
felt extremely necessary. Any request for extension of vital dates shall not be
entertained by WBPDCL.

7. COVER 2: FINANCIAL BID:

“Finance” for BOQ sheet duly filled up. Bidders need to fill up the rate of item in
the BOQ, in the designated cell of the BOQ spreadsheet and upload the same in
designated location of Cover #2.
7.1 All Premium Rates and total Premium to be quoted by the Bidders will be in Indian
Rupees (INR) only on Firm Price basis.

Basic Premium on lump sum basis shall be quoted in the Price Schedule, (BOQ) of
Bidding Forms.

It needs to be ensured that there is no calculation mistake while quoting the

premium. The entire premium quoted must be firm and no revision in the premium
quoted will be allowed after the submission of bids. The premium quoted against
this tender must cover all the assets indicated under Section-IV: (List of Assets) of
 the detailed Bid Document.

7.2 The Bidders cannot withdraw their offer after opening of Bids.

8. CONDITIONAL AND INCOMPLETE TENDER

a) Conditional and incomplete tenders are liable to summary rejection.

b) The entire offer to be submitted by the bidder should be unconditional. Any

information, assumption, statement mentioned in the bid document shall be
treated as a condition and as such a deviation from the tender norms stipulated in
the tender documents. Bidders are, therefore, requested to thoroughly scrutinize
the entire tender document and seek clarifications if required before submission of
tender.

c) If any bidder fails to produce any original hard copies of the documents on demand
of the Tender Evaluation Committee within a specified time frame or if any
deviation is detected in the hard copies from the uploaded soft copies, it may be
treated as submission of false documents by the bidder and action may be referred
to the appropriate authority for prosecution as per relevant IT Act.

d) The Corporation reserves the right to accept / cancel any or all tenders without
assigning any reason whatsoever. The corporation does not bind itself to accept the
rate quoted by the lowest bidder and reserves the right to accept or to reject any or
all the tenders or to split the whole work for entrusting the same to more than one
agency/company.

e) The bidder is expected to carefully examine the Bid documents and fully satisfy
himself as to all the conditions and matters, which may in any way affect the work
or the cost thereof. If any Bidder finds discrepancies or omissions in the Bid
documents or is in doubt as to the true intent or meaning of any part thereof, he
can submit his query within the date stipulated in the NIT for further clarification.
Any query for clarification in the above respect after the submission of bid shall not
be entertained. After receipt of such interpretation or clarification the Bidder shall
submit his Bid but within the time and date as specified in the invitation to Bid. All
such interpretation and clarification shall form an integral Step of the tender
 documents and must accompany the bid.

f) The bidder has to submit written clarification and information if any, verbal
clarification and information shall not be accepted.

g) All the expenses, incidental to the submission of the tender, discussion,

conferences, if any, shall be borne by the bidder irrespective of whether the tender
is accepted or not and the WBPDCL shall bear no liability whatsoever.

h) The tender documents submitted by a bidder shall become the property of The
WBPDCL after opening of the tender and The WBPDCL shall have no obligation to
return the same to the Bidder for any reason whatsoever.

9. INFORMATION TO BIDDERS:

9.1 WBPDCL intends to procure the Insurance Policy for the Assets of Sagardighi
Thermal Power Project (SgTPP), ), P.O.: Monigram , Dist.: Murshidabad (WB), Pin:
742237 from the IRDAI Registered General Insurance Companies for renewal with
effect from 00:00:00 Hours of 02.12.2025 in line with the specifications,
requirements, terms and conditions elaborated in the Bidding Documents.

9.2 WBPDCL shall provide necessary inputs/information as considered necessary to

the successful bidders for completion of the requirement.

9.3 The cost on account of preparation of bid, negotiation, discussion etc. as may be
incurred by the bidder in the process of finalization of the contract is not
reimbursable by WBPDCL.

9.4 The bidders are need to submit a separate confirmation i.r.o add-on coverages as
mentioned in NIT under Sections III (Pages 28-35).

9.5 EXAMINATION OF BIDS:

 The purchaser will examine the bids to determine whether they are generally in
order and confirms to all the terms conditions and specifications of the Tender. The
Corporation may waive any minor infirmity or non-conformity or irregularity in a
bid, which does not constitute material deviation, provided such waiver does not
prejudice or affect the relative ranking of any bidder.
 Prior to the detailed evaluation, the Corporation will determine whether each bid is
 of acceptable quality, is generally complete and is substantially responsive to the
bidding documents. For the purposes of this determination, a substantially
responsive bid is one that confirms to all the terms, conditions and specifications of
the bidding documents without material deviations, objections, conditionality or
reservations.
 As the programme for bid evaluation is necessarily short, the Corporation shall not
accept any obligation to request clarifications or substantiating information after
bids have been submitted, although the Corporation at its discretion reserves the
right to do this. In consequence, any such inadequacies in data submitted in any
bid may adversely affect the ranking of that tender during technical evaluation.

10 OPENING & EVALUATION OFBID

 Opening of Cover 1 : Technical Cover along with other important documents

Technical covers along with other important documents will be opened by the
General Manager, M&C, Corporate, WBPDCL or his authorized representative
electronically from the website using their Digital Signature Certificate.

10.1.1 Interested bidders may see the tender portal after opening of tender.

10.1.2 Decrypted (Transformed into readable formats) documents uploaded under the
Cover 1: Technical Cover along with other important documents will be
downloaded, and handed over to the Tender Evaluation authority.

While evaluation, the Committee may summon the Bidders and seek clarification/
information additional documents or original hard copy of any of the documents
already submitted and if these cannot be produced within the stipulated timeframe,
their proposals will be liable for rejection.

Information relating to the evaluation of bids and recommendation of contract

award shall not be disclosed to bidders.
Any attempt by a bidder to influence WBPDCL in the evaluation of the bids or
Contract award decisions may result in the rejection of its bid.
10.1.3 Technical bid evaluation methodology:
Procurement of “Mega All Risk Package Insurance Policy and Burglary &
Housebreaking Insurance Policy”, being a highly technical subject where quality of
the bidder is of utmost importance, accordingly the selection of lead insurer
“Combined Quality Cum Cost Based Selection (CQCBS)” to be followed for selection
of lead insurer:
a) Under CQCBS, the technical and financial proposals will be allotted certain
percentage of weightages.
b) The total score, both technical and financial, shall be obtained by weighing the
quality and cost scores and adding them up.
c) The weightages for CQCBS is being specified below:
SL. Marks
No Criteria Allotted Document Required
(Maximum)
1. Combined Ratio upto 30th NL-20 upto 1st Quarter of FY 2025-
June, 2025 10 26 (30th June, 2025)(Bidder need not
(As per IRDAI Public to submit the said document as the
Disclosure) same to be fetched by WBPDCL from
the Public Disclosure of IRDAI)
2. The bidder’s Solvency Ratio NL -26 upto 1st Quarter of FY 2025-
with approved forbearance, if 26(30th June, 2025)(Bidder need not
any, should be equal to 150% 10 to submit the said document as the
or higher upto 30th June, same to be fetched by WBPDCL from
2025 (as per IRDAI Public the Public Disclosure of IRDAI)
Disclosure).
3. NL-37 upto 1st Quarter of FY 2025-
Ratio in respect of Number
26 (30th June, 2025) along with a
of Claim intimated and
separate declaration is to be
settled upto 30th June,
10 submitted by the bidder as per Form
2025 (as per IRDAI Public
F-7 (Bidder need not to submit the
Disclosure)
said document as the same to be
(Number of Claims settled fetched by WBPDCL from the Public
during the period) Disclosure of IRDAI)

(Number of Claims O/S at

the beginning of the period +
Number of Claims reported
during the period)
The above ratio is to be
calculated based on data of
 Fire LoB and for both as
lead insurer and coinsurer.
TOTAL MARKS 30

Highest Points Basis: On the basis of the combined weighted score for quality and
cost, the bidder shall be ranked in terms of the total score obtained. The proposal
obtaining the highest total combined score in evaluation of quality and cost will be
ranked as H-1 followed by the proposals securing lesser marks as H-2, H-3 etc.
Highest nos. for each criteria so will get highest marks and subsequent lower
values will get lowest marks, the maximum total being 30.

The formula for determining Technical score (Qp) is as below:

Qp = 100 X Q/ Qm(Q = Marks of respective bidder, Qm= Total marks, i.e. 30)

A Power of Attorney for the designated person certifying the documents for
technical evaluation must be provided.

Summation of marks against points 1,2&3 for each criteria asked for will be
maximized up to highest points that can be gathered for each criteria and will
never exceed this value for evaluation.

10.2 Financial Bid Evaluation Criteria:

The financial proposal to be submitted and should contain the following document in
one cover.
Bill of Quantities (BoQ): The bidder should fill up /quote rate in the BOQ sheet in
the space marked for quoting rate as per prescribed format. Once completion of
quoting rates in both of the sheets the bidder must encrypt the rates and submit
the same.
Financial proposal(s) for the technically eligible bidder(s) declared by the Tender
Evaluation Authority will be opened on the prescribed date and time.
The formula for determining Financial Score (Fp) is as below:
Fp = 100 X Fm/F (Fm = Price of L1 bidder, F= Price of concerned bidder; Fm and F
will be Combined Value of Gross annual premium considering Mega Policy and
Burglary and Housebreaking Insurance Policy)
10.3 Evaluation Criteria for QCBS (Quality cum Cost Based Selection):

WEIGHTAGE PERCENTAGE
QUALITY 30%
PRICE 70%

The final evaluation will be based on Quality Cum Cost Based Selection (QCBS)
where the weights given to the Price (Fp) is 70% and to the Quality (Qp, Technical
criteria) is 30%.

Hence, the Final score will be 0.3 X Qp + 0.7 X Fp.

In case of a tie, the tie-breaker will be based on 1. Higher Solvency Ratio of the
Insurer upto 1st Quarter of FY 2025-26(30th June, 2025) and 2. Combined Ratio of
the Insurer (In case of same solvency ratio) upto 1st Quarter of FY 2025-26(30th June,
2025).
After opening of financial covers and evaluation of H1, H2, H3….. bidders as per
QCBS methodology, the intimation to qualified bidder(s) and further
communications thereafter will be intimated offline and not through NIC portal.
Evaluation by The WBPDCL shall be based on the documents as uploaded by the
bidder as per the tender clauses. The requirements as stipulated in the tender
documents are the minimum ones and The WBPDCL has the right to ask for any
additional information, if necessary, in case the documents uploaded by the bidder
are found inadequate.

The WBPDCL reserves its right to reject any tender, if the bidder is found not
qualified to perform the work satisfactorily. The WBPDCL reserves the right to
reject any tender, at any stage, if the bidder is found to have become qualified by
giving incorrect and/or false information.

Notwithstanding anything stated above or elsewhere, The WBPDCL reserves the

right to assess the capability and capacity of the bidder, should the circumstances
warrant such assessment in the overall interest of The WBPDCL.

11. VALIDITY OF BID:

a) Bid shall remain open for acceptance by the Owner for a period of Sixty (60) days
from the last date of opening of the Bid. During this period the Bidder shall not
withdraw or amend his Bid.
b) Notwithstanding sub-clause (a) above, the Owner may obtain the Bidder’s consent
to extend the validity period of his Bid, as required. The request and response
thereto shall be made in writing. A Bidder accepting the request will not be
permitted to modify his Bid.

12. WBPDCL`S RIGHT TO ACCEPT WHOLE OR PART OF THE TENDER

WBPDCL reserves the right to accept or reject any Bid and to annul the Bidding
process and reject all Bids at any time prior to award of contract, without thereby
incurring any liability to the affected Bidder or Bidders or without any obligation to
inform the affected Bidder or Bidders of the grounds or the reasons for the
WBPDCL's action.

The OWNER will not be obliged to award the contract to the evaluated bidder
obtaining highest marks if the OWNER apprehends that it will not be in the interest
of the OWNER or the work to award the contract to the bidder obtaining highest
marks.

13. PAYMENT OF BROKERAGE

Insurance Company shall share the Brokerage Statement (mentioning

Commission plus Rewards) with the Controlling Officer of WBPDCL with respect
to underwrite the subject Mega Policy.

The payment of brokerage shall only be released by the concerned Insurance

Company after written confirmation received from WBPDCL. This information is
sought in compliance with the submission of Contract Performance Guarantee by
the Insurance Broker.

14. AWARD OF CONTRACT

i) Qualified bidders, whose bid is accepted by WBPDCL, shall be issued Letter of

Award (LOA) in weightage as decided by the WBPDCL authority prior to expiry of
bid validity. The qualified bidder(s) shall confirm unconditional acceptance by
providing Order Acceptance/returning a signed copy of the LOA immediately or
within such stipulated time as mentioned in the LoA.
ii) WBPDCL would like to manage its risk beyond taking insurance cover in spreading
the insurance leadership among various competent insurers. As such, if the H1
bidder as per the Company’s evaluation already has leadership of more than one
plant, the H2 bidder will be considered for leadership. Of course , H1 bidder will be
given a share commensurate with its bid price.

iii) WBPDCL shall not be obliged to furnish any information/ clarification/ explanation
to the non-qualified Insurance agencies, if any, as regards non-acceptance of their
bids. WBPDCL shall correspond only with the qualified Insurance agencies.

15. METHODOLOGY OF BID EVALUATION

Prior to the detailed evaluation, the Owner will determine whether each bid is
prima facie complete and is substantially responsive to the bid conditions. For
purposes of this determination, a substantially responsive bid is one that
conforms to all the terms, conditions and specifications of the bid documents
without
material deviations, objections, conditionality or reservations.

A material deviation, objection, conditionality or reservation is one:

(i) that affects in any substantial way the scope, quality of performance of the
Contract;
(ii) that limits in any substantial way and /or is inconsistent with the bid
documents or the Owner’s rights or the successful bidder’s obligations under
the Contract; or
(iii) Whose rectification would unfairly affect the competitive position of other
bids who are presenting substantially responsive Bids.

In particular, bids with deviations from, objections to or reservations on provision

such as those concerning Bid validity, Indemnity and on provisions mentioned
below, if any, that the bidder is not prepared to withdraw will be treated as non-
responsive.

No deviation, whatsoever, is permitted by the owner to the provisions relating to the

following:
 a) Governing Law
b) Settlement of Disputes
c) Conditions of appointment
The owner’s determination of a bid’s responsiveness is to be based on the contents of
the bid itself without recourse to extrinsic evidence. If a bid is not substantially
responsive, it will be rejected by the owner and may not subsequently be made
responsive by the bidder by correction of the non-conformity.

16. REJECTION OF BID

On submission of any Bid, the corresponding Insurance agency shall have no

cause of action or claim against the Owner for rejection of his Bid. The Owner will
always be at liberty to reject or accept any Bid at his sole discretion without
assigning any reason and any such actions will not be called into question and the
Insurance agency shall have no claim in this regard against the Owner.

17. CANCELLATION OF TENDERS

WBPDCL may cancel the tender at his discretion without assigning any reasons
whatsoever. WBPDCL will not be liable for any other expenses incurred by the
bidder(s) to participate in the tender.

18. DEVIATIONS

 No deviation is allowed.
 The bidder must comply with the specifications and all terms and conditions of the
bidding documents.
 No bidders should deviate from the provision of guidelines of IRDAI while quoting
the premium. Further, the guidelines as applicable on the date of renewal of the
policy shall be considered.

 In case of any deviation between final policy copy and tender condition, the tender
condition shall prevail.

19. SUM INSURED INCREASE/DECREASE OF POLICY

The following to be applicable in case of Midterm Increase/Decrease of Sum

 Insured irrespective of any claim ratio.

Additional Premium due Refund of Premium due to

to Sum Insured increase Sum Insured decrease
On Prorata Basis On Prorata Basis

20. IN CASE MIDTERM CHANGE OF RATING METHODOLOGY

Any change in the rating methodology during the currency of the policy by the
Regulator/GI Council/TAC etc. as the case may be resulting in premium reduction,
the same needs to be effected by the Insurance Company for the remaining number of
days with effect from the date of the Circular/guidelines.

21. LOSS ADJUSTERS

i. Dr. S.N. Mitra of SNM Consultants, Kolkata.
ii. Reviere Insurance Surveyors and Loss Assessors Pvt. Ltd., 13/2,
Jagat Roy Chowdhury Road, Kolkata- 700008.
iii. Mack Insurance Surveyors & Loss Assessors Pvt. Ltd., 14(A), D Block
Basement, Factory Road, New Delhi-110029.
iv. Inder Chadha & Associates, Subid Ali Building, 2 nd Floor, 1 Madan
Street, Kolkata-700072.
v. Asstha Insuvision Insurance Surveyor and Loss Assessors Pvt. Ltd.
Kolkata.
vi. Proclaim Insurance Surveyors and Loss Assessors Private Limited, D-
21, Corporate Park, Second Floor, Sector-21, Dwarka, New Delhi.
vii. Puri Crawford Insurance Surveyors & Loss Assessors India Pvt. Ltd.,
231, 3rd Floor, Building No.2, Solitaire Corporate Park, Andheri-
Ghatkopar Link Road, Andheri - Kurla Rd, Chakala, Mumbai,
400093.
viii. Advanta Global Services (International Loss Adjusters) Professional
Insurance Surveyors & Loss Assessors Pvt. Ltd. 25, Sukanta Park,
Prafulla Kanan, Kolkata-700101.
ix. Kalyan Bhattacharya, Surveyor and Loss Assessors 5/1/2E,
Baishnabhghata Road, Kolkata-700047, Mobile No. 9836566647.
 SECTION –III
GENERAL CONDITIONS OF CONTRACT

1. SCOPE OF INSURANCE POLICY

Policy Type-1:~Mega Risk Insurance as defined in the Policy wording(s)

Policy Description:

The Mega All Risk Policy for Plant & Stock (Excluding Terrorism) covering all Properties of
the Insured including but not limited to Building, Plant and Machinery, Furniture and
Fixtures, Office Equipment, Stocks (including coal and fuel oil), Stores and the like owned
by the Insured or Joint Account with others or held in trust for which the insured have
an insurable interest therein. All risks of direct physical loss, destruction or damage to
the insured property by any cause, not otherwise excluded, including machinery
breakdown and Business Interruption consequent upon material damage.

Insured Name:

“The West Bengal Power Development Corporation Limited” having Registered &
Corporate Office at ‘Bidyut Unnayan Bhaban’, No. 3/C, LA-Block, Sector-III, Salt
Lake, Kolkata-700106(Principal Assured) and/or subsidiaries and/or affiliated
companies and/or associated companies and/or owned controlled, Joint Venture,
Shareholder or any subsidiary companies or corporations as now or may hereinafter be
constituted as their respective rights and interest may appear and/or subcontractors,
O&M contractors and/or Owner’s Engineer and /or finance parties (lending
banks/lending institutions & their advisors) under the finance documents all for their
respective rights and interests and/or as required under any contract together with their
respective successors in title and assigns and all as their respective rights that may
appear.

Financer:
1. State Bank of India, Industrial Finance Branch, 2nd& 5th Floor, 1,
Middleton Street, Kolkata-700071
2. Power Finance Corporation Ltd., 'Urjanidhi', 1, Barakhamba Lane,
Connaught Place, New Delhi-110 001
3. IDBI Bank, 44, Shakespeare Sarani, 2nd Floor, Kolkata.
 4. REC Limited, IB, 186 Salt Lake, Kolkata-700106.
5. Indian Bank, LCB, 14 India Exchange Place, Kolkata-700001.
6. Canara Bank, 21, Camac Street Bells House, Kolkata.

Policy Period:

From 00:00 Hrs. Local Standard Time on 2 ndDecember, 2025 till 23:59 Hrs. Local
Standard Time on 1st December, 2026 (both days inclusive) at the location of the property
insured.

Occupancy (Operational): 2X300= 600MW and 2X500= 1000MW Coal Based Thermal
Power Plant
Occupancy (Scheduled to get Operational) : 1X660 = 660MW Coal Based Thermal Power
Plant

Risk Location:
Sagardighi Thermal Power Project (SgTPP) P.O. Monigram, Dist-Murshidabad (WB), Pin-
742237.

[including assets outside premises (both above ground and underground) including but
not limited to raw water intake system, pump house, water treatment plants, pipelines
and associated structures from raw water intake pump house up to plant boundary;
ash distribution pipe lines and support structures including civil structure; ash water
recovery system including civil and piping work for the same; electrical distribution
system including civil work, transformers, substations, breakers, cables, conductors,
transmission towers, transmission lines etc.; approach roads; railway sidings, railroad
infrastructure (including railway tracks, signaling and communication systems/
installations and associated equipment), rolling stock (rail locomotives, wagons, carriages
and the like); pipelines & cables.]

Interest Insured: Section I: Material Damage (All Risk including Machinery

Breakdown)
All real and/or personal property of Sagardighi Thermal Power Project (2x500 MW) ,
(2X300 MW) & scheduled to get operational Unit (1x660 MW) other than what is
excluded under the policy belonging to the insured or property held in trust, care
custody, consignment and/or control of insured, whilst in operation or repairs or
 maintenance or in storage or during movement within the site or while carrying out
Minor Works whilst contained in the premises insured, comprising or consisting of but
not limited to Factory Building, Boundary Walls, Roads & Culverts and Civil Structures –
Super Structure and Plinth and foundation, Plant & Machinery (including Transformer
oil, gear oil and any other oil), Electrical Installations & Equipment’s, Furniture, Fixtures
& Fittings, Locomotives & Ladle Cars, Stock in process, stock of thermal coal, stock of
stores, spares and consumables, Building, Superstructure, Boundary Wall and Plant &
Machinery for pump house & for 33 kv Sub Station outside Factory Premises, Intake
Well (Outside plant premises), Water Reservoir, Railway infrastructure, Transmission
Lines within and outside premises or any other material pertaining to the insured’s trade
or any other materials/assets pertaining to the insured’s trade. Transmission &
Distribution Lines within the premises to be covered up to full sum insured and that
outside premises to be covered up to INR 100 Crores (PD+BI Combined).”of every kind
and description and/or for which ‘The West Bengal Power Development Corporation
Limited’ have an insurable interest.

And all other and such other property in which the Insured may acquire and Insurable
Interest during the course of entire policy period.

Section II: Business Interruption (All Risk including Machinery Breakdown)

Loss of gross profit (the actual loss sustained) during the indemnity period including
any increased cost of working due to an interruption of the Business following loss of or
damage to any property and/or assets (including Stocks at plants) insured and
recoverable under the Material Damage Section.

Sum Insured:

Section-I: Material Damage (All Risk including Machinery Breakdown)

Section-II: Business Interruption Consequent upon Property Damage (All Risk
including Machinery Breakdown)

Policy shall also include the following clauses/extensions/add-on covers:

All sub-limits are for 100% each and every occurrence (unless otherwise stated) and apply
in excess of the policy Deductible/Excess.
‘The amounts/ limits stated hereunder are on first loss basis and represents the
maximum indemnity for any one Loss Occurrence and are not subject to any condition of
Average / underinsurance.’

Sl No Clauses /Add on Covers Covered/Sub-limits/At actual

1 Earthquake (Fire & Shock) including Tsunami
Covered for Full Sum Insured
& Volcanic Eruption
2 Storm Tempest Flood Inundation (STFI) Covered for Full Sum Insured
3 Riots, Strikes, Malicicous Damage Covered for Full Sum Insured
4 5% of Total Sum Insured
Omission to insure, addition and alteration
excluding stock
5 5% of Total Sum Insured
Escalation
excluding stock
6 Disposal of Salvage Covered
7 Designation of Property Covered
8 Reinstatement value clause Covered
9 Local Authorities Covered
10 Goods Held in Trust, care/custody/control Covered
11 Impact Damage due to insured’s own
Rail/Road Vehicles, Forklifts, Cranes, Stackers Covered
and the like and articles dropped there from
12 Undamaged Foundation Covered
13 Transit Risk (within premises) Covered
14 Conveyor Belts and chains Covered
15 Spontaneous Combustion Covered
16 Cover for lubricating oil, oil in transformers,
machine foundations, operating media and Covered
refrigerants
17 Cover for refractory material and/or masonary
Covered
and/or lining
18 Dismantling Cost Covered
19 Non recoverable GST Covered
20 Obsolete Spare Parts/Tools & Equipment Covered
21 Seepage, Pollution and Contamination Covered
22 Measures taken for avoidance of damage (Sue
Covered
and Labour)
23 Appraisement Clause INR 30,00,00,000 each & every
loss
24 Smoke Soot Corrosive Gases, Heat Waves
Covered
Damage Cover
25 Leakage & Contamination Covered
26 Contamination & co-mingling Covered
27 Spoilage Material Damage Covered
28 Architects, Surveyors & Consulting Engineers INR 50,000,000 each & every loss
Fees
29 Expense for Foreign Consultant/Expert Visit INR 50,000,000 each & every loss

30 Removal of Debris (including external/foreign

5,00,00,000 each and every loss
debris)
31 Dewatering Expenses 5,00,00,000 each and every loss
32 Cost of clearing of drains 5,00,00,000 each and every loss
33 Expediting Expenses Clause 5,00,00,000 each and every loss
34 Immediate Repairs 25,00,00,000 each and every loss
35 Restoration of Computer system, record, plans
5,00,00,000 each and every loss
& documents
36 INR 10,00,00,000 each & every
Start up expenses
loss
37 INR 10,00,00,000 each & every
Shut down expenses
loss
38 50,00,00,000 each and every loss
Excess/deductible – As per
Minor works
EAR/CAR Tariff Occupancy
Provision
39 Loss minimisation/Loss Prevention Expenses Covered
40 PBL/Single Carrying Limit INR
Inland Transit
25,00,00,000
41 Covered upto the difference of
OEM parts
25% between the OEM quote and
 the lowest quote
42 Catalysts & Consumable Interests in Process Covered
43 Capital Additions 5,00,00,000 each and every loss
44 Involuntary betterment 25,00,00,000 each and every loss
45 Temporary removal of Property other than
Covered
stock
46 Third party liability and damage to
5,00,00,000 each and every loss
Surrounding Property
47 Inadvertent omission 5,00,00,000 each and every loss
48 Additional Custom duty 5,00,00,000 each and every loss
49 Deliberate Damage INR 50,000,000 each & every loss
50 Demolition & Increased Cost of Construction INR 50,000,000 each & every loss
51 Decontamination and cost of clean up 5,00,00,000 each and every loss
52 Location of Leak Search 5,00,00,000 each and every loss
53 Unrepaired damage 5,00,00,000 each and every loss
54 Modification cost and expenses for
5,00,00,000 each and every loss
incompatibility of Equipment
55 Employee personal property/effects 5,00,00,000 each and every loss
56 Accidental discharge of Gas flooding system 5,00,00,000 each and every loss
57 Trace and Access 5,00,00,000 each and every loss
58 Outbuilding Clause Covered
59 Landscaping cost 5,00,00,000 each and every loss
60 Fire Fighting/Foam consumption At actual
61 Temporary Removal of Stocks 5,00,00,000 each and every loss
62 Sprinkler Upgrading Cost 5,00,00,000 each and every loss
63 Offsite Premises Covered
64 Control of Damaged Property Covered
65 Destruction of Undamaged Property 5,00,00,000 each and every loss
66 Pair and Set Clause Covered
67 Alternative Basis Clause Covered
68 Adjustment of Trend Covered
69 Outage Clause Covered
70 Aggravation Clause Covered
71 Interdependency Clause Covered
72 Departmental Clause Covered
73 Irretrievable Loss Clause Covered
74 Delay in repair Covered
75 New Business Clause Covered
76 Delayed Indemnity Clause Covered
77 Accumulated Stock Clause Covered
78 Auditors/Solicitors & Professionals fees 5,00,00,000 each and every loss
79 Additional increased cost of working 25,00,00,000 each and every loss
80 Customers Premises Extension [Named
Domestic Customers - Covered against FLEXA 5,00,00,000 each and every loss
and AOG perils
81 Unnamed Domestic Customers & Named
Foreign Customers – Covered against FLEXA 5,00,00,000 each and every loss
perils
82 Suppliers Premises Extension [Named
Domestic Suppliers - Covered against FLEXA 5,00,00,000 each and every loss
and AOG perils]
83 Suppliers Premises Extension [Unnamed
Domestic Suppliers & Named Foreign 5,00,00,000 each and every loss
Suppliers – Covered against FLEXA perils]
84 Public/Non owned utility suppliers 5,00,00,000 each and every loss
85 Port blockage 5,00,00,000 each and every loss
86 Premium Adjustment Clause (BI) Upto 50%of total BI premium
87 4 weeks over & above the policy
time excess and with maximum
Prevention of Access
radius of 5 Kms from Insured
premises and inland only
88 Non-invalidation Covered
89 Boiler and Pressure Plant Explosion &
Implosion including consequential business Covered
Interruption
90 Electronic Equipment All Risks including
Breakdown and consequent Business Covered
Interruption
91 Transmission and distribution lines outside Upto maximum loss limit of INR
insured plant premises, belonging to the 1,000,000,000 (PD +
Insured BI) for AOA and AOY Basis
92 Burglary and Theft including Sabotage Covered
93 Agreed Bank Clause Covered
94 72 Hours Clause Covered
95 Nominated Adjustors Clause Covered
96 Covered, subject to GIC approval
and insurance to be placed with
Pro Rata Cancellation Clause
same set of insurers in similar
arrangement
97 Non-vitiation Clause Covered
98 Waiver of recourse Covered
99 Expiration Covered
100 Innocent Non-disclosure Covered
101 Waiver of Subrogation Covered
102 Payments on Account Covered
103 No Control Covered
104 Bankruptcy Covered
105 Primary & Non-contributory Covered
106 Unoccupancy Clause Covered
107 Free Automatic Reinstatement 5,00,00,000 each and every loss
108 PR Crisis Management 5,00,00,000 each and every loss
109 Claims Preparation Cost 5,00,00,000 each and every loss
110 Upto 15% of Total (MD) Sum
Waiver of Underinsurance
Insured
111 Co-insurance Clause Covered
112 Protection and Prevention of Property Covered
113 Waiver of Contribution Covered
114 Damage to Underground Service Covered
115 Warranty Clause Covered
116 Green Clause Covered
117 Mobile Plant and Equipment Cover 5,00,00,000 each & every Loss

118 Rolling Stock and Railroad Infrastructure 5,00,00,000 each & every loss
outside Insured Premises
119 Layoff and Retrenchment (following Business 5,00,00,000 each & every loss
Interruption)
120 Broad Water Damage 5,00,00,000 each & every loss
121 Replacement from Spares Covered
122 Rent for Alternative Equipment 5,00,00,000 each & every loss
123 Calorific Value of Coal Covered
124 Highest Single Deductible Covered
125 Overhaul/maintenance/Shutdown Covered

Policy-2:~Burglary & Housebreaking Insurance (Theft/Larceny including

Sabotage)
Policy Description:
Burglary & Housebreaking Insurance Policy for the Stock and Consumables related to
Power Plant Stored at Godowns and Open Yards inside the Plant Premises (excluding Coal
& Fuel Oil) of Sagardighi Thermal Power Project (SgTPP) P.O.: Monigram, Dist:
Murshidabad (WB), PIN -742237 is being proposed for the first time with effect from
02.12.2025 to 01.12.2026.

Insured Name:

‘The West Bengal Power Development Corporation Limited’ having Registered &
Corporate Office at ‘Bidyut Unnayan Bhaban’, No. 3/C, LA-Block, Sector-III, Salt
Lake, Kolkata-700106(Principal Assured) and/or subsidiaries and/or affiliated
companies and/or associated companies and/or owned controlled, Joint Venture,
Shareholder or any subsidiary companies or corporations as now or may hereinafter
be constituted as their respective rights and interest may appear and/or
subcontractors, O&M contractors and/or Owner’s Engineer and /or finance parties
(lending banks/lending institutions & their advisors) under the finance documents all
for their respective rights and interests and/or as required under any contract together
with their respective successors in title and assigns and all as their respective rights
that may appear.
 Financer:
1. State Bank of India, Industrial Finance Branch, 2nd& 5th Floor, 1, Middleton Street,
Kolkata-700071
2. Power Finance Corporation Ltd., ‘Urjanidhi’, 1, Barakhamba Lane, Connaught Place,
New Delhi-110001.
3. IDBI Bank, 44, Shakespeare Sarani, 2nd Floor, Kolkata.
4. REC Limited, IB, 186 Salt Lake, Kolkata-700106.
5. Indian Bank, LCB, 14 India Exchange Place, Kolkata-700001.
6. Canara Bank, 21, Camac Street Bells House, Kolkata.

Policy Period:
From 00:00 Hrs. Local Standard Time on 2 nd December, 2025 till 23:59 Hrs. Local
Standard Time on 1st December, 2026 (both days inclusive) at the location of the
property insured.

Occupancy (Operational): 2X300= 600MW and 2X500= 1000MW Coal Based Thermal
Power Plant
Occupancy (Scheduled to get Operational) : 1X660 = 660MW Coal Based Thermal Power
Plant

Risk Location: Sagardighi Thermal Power Project (SgTPP) P.O. : Monigram , Dist-
Murshidabad (WB), Pin-742237.
[including assets outside premises (both above ground and underground) including
but not limited to raw water intake system, pump house, water treatment plants,
pipelines and associated structures from raw water intake pump house up to plant
boundary; ash distribution pipe lines and support structures including civil
structures; ash water recovery system including civil and piping work for the same;
electrical distribution system including civil work, transformers, substations, breakers,
cables, conductors, transmission towers, transmission lines etc.; approach roads;
railway sidings, railroad infrastructure (including railway tracks signaling and
communication systems/installations and associated equipment), rolling stock (rail
locomotives, wagons, carriages and the like), pipelines and cables.
 Interest Insured:
Burglary & Housebreaking Insurance (Theft & Larceny including Sabotage) For the
Stock and Consumables related to Power Plant Stored at Godowns and Open
Yards inside the Plant Premises (excluding Coal & Fuel Oil) of Sagardighi
Thermal Power Project (SgTPP), P.O.: Monigram, Dist-Murshidabad (WB) , PIN-
42237.

Sum Insured: Rs. 500,00,00,000 on 25% First Loss Basis

Policy shall also include the following clauses/extensions/add-on covers:

The sub-limits (wherever mentioned hereunder) are over and above the policy limits.
The liability of the Insurer shall be further limited in respect of any one loss or series of
losses at any one Situation arising out of any one original source or cause as set out
hereunder:

Clauses/Add On Cover

Theft
Riots Strikes Malicious Damage (RSMD)
Goods held in trust, care/custody/control
Theft/Larceny including Sabotage
Waiver of FIR up to losses of Rs. 5,00,000
Replacement of Locks & Keys
First Loss Basis-25%
Self-survey limit upto INR 1,00,000/- to be allowed
Primary and Non-Contributory

1. CONTROLLING OFFICER:
Shri Bubai Santra,
The Sr. Manager (IMP, C&I), Corporate, WBPDCL,
Contact No: 8336903729,
Email: bsantra@[Link]

2. TIME OF COMPLETION:

The contractual period for this job is 12 months from the Policy inception date.
3. FORCE MAJEURE :
i) Force Majeure shall mean any event beyond the reasonable control of the Employer
or of the Insurance agency, as the case may be, and which is unavoidable
notwithstanding the reasonable care of the party affected.
ii) In the event of either party being rendered unable by Force Majeure to perform any
obligation required to be performed by them under this Contract, relative obligation
of the party affected by such Force Majeure shall be treated as suspended during
which the Force Majeure clauselast.
iii) During the pendency of execution of this contract if the performance in whole /
part by either or any obligation there under, is prevented/ delayed by causes
arising out of War (whether declared or not), Hostility, Civil commotion, Acts of
public enmity, Sabotage, Fire, Floods, Explosions, Epidemics, Embargo acts of
Civil/Military Authorities, Causes beyond the control of either party.
iv) Then, neither of the two parties shall be made liable for loss or damage due to delay
or failure to perform the contract during the period notified in writing within 10
days of the occurrence of any one or more of the above mentioned causes, there of
giving full particulars and satisfactory evidence in support of its claim.
The burden of proof as to occurrence of the event of Force Majeure and its effect
shall be upon the party claiming the Force majeure event and such claim shall be
supported by documentary evidence in the form of a Certificate issued by any local,
state or national authority.
v) The work shall be resumed under the contract as practicable as soon as event /
events cease to exist. Time for Performance of the relative obligation suspended by
the event of force majeure shall stand extended by the period for which such clause
lasts.
vi) If works are suspended by Force Majeure conditions lasting for more than two
months leading to prolonged force majeure, the parties shall hold consultation to
find a solution/resolve the problem satisfactorily -Provided, the Employer shall
reserve the right to cancel the Order/contract, wholly or partly, in order to meet the
overall project schedule and make alternative arrangement for completion of
delivery and other schedules.
4. FRAUD AND CORRUPTION PRACTICES

4.1 It is owner’s policy that owner as well as bidders to observe the highest standard of
ethics during tendering process and execution of the contract. In pursuance of this
policy, owner defines, for the purpose of this provision the terms set forth below as
follows:
4.2 “Corrupt Practice” means the offering, giving, receiving or soliciting, directly or
indirectly of anything of value to influence the action of a public official in the selection
process or in contract execution.
4.3 “Fraudulent Practice” means a misrepresentation or omission of facts in order to
influence a selection process or the execution of a contract.
4.4 “Collusive Practice” means a scheme or arrangement between two or more bidders,
with or without the knowledge of the Owner, designed to establish bid prices at
artificial, non-competitive level
4.5 “Coercive practices” means harming or threatening to harm, directly or indirectly,
persons or their property to influence their participation in a selection process, or
affect the execution of a contract.
5. MEASURES TO BE TAKEN BY THE OWNER
a. The owner may annul the tendering process if it determines at any time that bidders
are engaged in corrupt, fraudulent, collusive or coercive practices.
b. The owner will reject a proposal for award if it determines at any time that bidder
recommended for award was engaged in corrupt, fraudulent, collusive, or coercive
practices during the selection process and execution of the contract.
c. The owner will declare a bidder ineligible, either indefinitely or for a stated period of
time to be awarded a contract if it at any time determines that the bidder has directly
or through an agent, engaged in corrupt, fraudulent, collusive or coercive practice in
competing for, or in executing, an owner financed contract.

6. JURISDICTION
All legal proceedings in connection with the Works and services will be subject to
the Jurisdiction of Hon’ble High Court, Kolkata.
7. SETTLEMENT OF DISPUTES

If any dispute(s) or difference(s) of any kind whatsoever arise between the parties
hereto in connection with or arising out of this contract, the parties hereto shall
negotiate with a view to its amicable resolution and settlement. In the event no
amicable resolution or settlement is reached within a period of 30 (thirty) days from
the date on which the dispute(s) or difference(s) arose, either party shall give a
notice to the other party, of such intention to invoke Arbitration within 14
(fourteen) days from the expiry of the aforesaid period of 30 (thirty) days within
which amicable resolution could not be reached. Such dispute(s) or difference(s)
shall be referred to and settled by a “Sole Arbitrator‟ to be mutually appointed by
both the parties.
If a party fails to appoint the Sole Arbitrator within 30 (thirty) days from the receipt
of a request to do so from the other party, the appointment of Sole Arbitrator shall
be made upon request of either party by the Hon’ble High Court, Calcutta.
The arbitration proceedings shall be in accordance with the prevailing Arbitration
laws of India as amended or enacted from time to time.
The existence of any dispute(s) or difference(s) or the initiation or continuance of
the Arbitration proceedings shall not permit the parties to postpone or delay the
performance by the parties of their respective obligations pursuant to this
Contract.
The Seat of arbitration shall be Kolkata, West Bengal, India.

8. CONFIDENTIALITY
The insurer shall hold in strict confidence all data, information and records
received by him from WBPDCL and shall not surrender the same to third parties
without prior written approval of the WBPDCL.

9. SURVIVING OBLIGATION
The Clause Settlement of Disputes and Confidentiality shall survive the termination
or completion of this contract.

10. BLACKLISTING
Blacklisting of the vendor/bidder, incase vendors/bidders are entered into any
 undisclosed agreement or understanding, whether formal or informal in particular
to prices, coverage and add-ons, specifications, certifications, submission or non-
submission of bids or any other actions to restrict competitiveness or to introduce
cartelization in the bidding process or any such situation arises, then the standard
policy of WBPDCL shall be followed.

11. GENERAL CONDITION

a. As per Nominated Adjuster Clause, the insurer would select a panel of surveyor
in consultation with WBPDCL and in case of any claim, surveyor shall be
appointed from this panel only.

b. The lead insurer needs to issue the held cover note immediately after receipt of
payment of premium and the final policy along with two duplicate are required
to be submitted to WBPDCL within 15 days of receipt of premium.

c. The lead insurer will ensure for co-insurance settlement within 15 days of
receipt of premium from WBPDCL. A statement of co-insurance settlement needs
to be shared with Corporation immediate after the settlement.

d. WBPDCL has all the rights to change/alter/modify/amend/add/delete the

coverage/policy terms & conditions/variations of sum insured etc. at the time of
placement of insurance policy as well as during the policy period also.

e. The bidder shall comprise of all information and details as per provisions of
bidding documents and bidders shall furnish all information in bidding forms.

f. Such bids which do not attach duly authenticated by way of digital signatory
and official seal of the Bidder wherever shall not be evaluated

g. Bidders shall not contact WBPDCL on any matter relating to their bid after the
bid opening. Any effort by the bidder to influence WBPDCL in evaluation,

comparison or award decision may result in the rejection of their Bid proposal.

h. If an insurer fails to accept the risk as per their declared commitment in the
Bid, in such case they shall be immediately barred from participating in any
insurance tender of WBPDCL in future for a maximum period of three years
as per the discretion of the competent authority.
 SECTION- IV
PARRTICULARS:

LIST OF ASSETS OF SAGARDIGHI THERMAL POWER PROJECT

All real and personal property other than what is excluded under the policy belonging
to the insured or property held in trust, care, custody, consignment and/or control of
insured, whilst in operation or repairs or maintenance or in storage or during
movement within the site or while carrying out Minor Works whilst contained in the
premises insured, comprising or consisting of but not limited to Factory Building,
Boundary walls, Roads & Culverts and Civil Structures- Super Structure, Plant &
Machinery (including Transformer oil, gear oil and any other oil), Electrical
Installations & Equipment’s, Furniture, Fixtures & Fittings, Locomotives & Ladle
Cars, Stock in process, stock of thermal coal, stock of stores, spares and
consumables, Building, Superstructure, Boundary Wall and Plant & Machinery for
pump house, Sub Station insider & outside Factory Premises, Intake Well (outside
plant premises), Water Reservoir, Railway infrastructure, Transmission lines within
and outside premises or any other materials/assets pertaining to the insured’s
business such as tanks etc. Transmission & Distribution Lines within the premises
to be covered up to full sum insured and that outside premises to be covered up to
INR 1,000,000,000 (PD + BI combined)”of every kind and description and/or for
which ‘The West Bengal Power Development Corporation Limited’ have an insurable
interest.
And all other and such other property in which the Insured may acquire and
Insurable Interest during the course of entire policy period. Physical loss/Property
Damage Sum Insured includes Stock of Coal & Fuel Oil, Capital Spares including
CWIP, assets for which testing and commissioning done but not capitalized and O&M
Spares.

Coverage:
Section I – Material Damage (All Risk including Machinery Breakdown)
Section II - Business Interruption (All Risk including Machinery Breakdown)
Sum Insured:
Section – I : Physical Loss/Property Damage
(Unit # 1 to 5) : Total 2260 MW : Rs. 13,684 Crs.
(Incl. Coal, Fuel Oil and Stores & Spares)
Machinery Breakdown : Rs. 11,496 Crs.
(Unit # 1 to 5) : Total 2260 MW

N.B.:~

Physical Loss/Property Damage Sum Insured includes Stock of Coal & Fuel Oil, Capital
Spares including CWIP, assets for which testing and commissioning done but not
capitalized and O&M Spares.

Section – II:
Business Interruption (FLOP/MLOP) : Rs. 2,465 Crs.

As per insurance terminology the “gross profit should represent the net trading profit
plus insured standing charges (fixed charges)”, however for Power utility the meaning of
the same is as described below.
The loss of profit means:
1) Under the Electricity Act’2003, profitability of Electricity Generating Company is
reflected through Reasonable Return. Reasonable Return is determined based on the
paid-up equity capital invested by the utility for a particular project and on such
paid-up equity, specified percentage, at present it is 15.5% for Unit 1,2,3&4 and 14%
for Unit 5, is allowed as Reasonable Return (RR).
Such Reasonable Return for a particular year is determined by the Regulator
considering benchmark availability of generation capacity as declared by the
utility.
For a new power plant present minimum attainment target is 85% of declared
capacity. In case, for any year, if the utility fails to achieve the target, the
permissible return on paid- up equity shall also reduce proportionately.
Accordingly, we have considered the average plant availability factor of last three
financial years to determine the Profit of the said plant

2) The Fixed Charges means element of capacity charge other than return on equity.
For Business Interruption Sum Insured, the above mentioned two components needs
to be considered by the insurer in case of any claim triggered in this section.

B.I. Sum Insured: Rs. 2,465 Crs.

Burglary Sum Insured :

On Stock & Consumables related to Power plant
Stored at Godown & Open Yards inside the Plant
Premises (excluding Coal & Fuel Oil) : Rs. 500,00,00,000.00
(on 25% First Loss Basis)
Deductibles:

For Section-I: Physical Loss or Damage

a) For other than Stock : 5% of claim amount subject
to a minimum of Rs.1.25 Cr.

b) For Stocks only : 5% of claim amount subject

to a minimum of Rs. 50 lacs.

c) For Assets outside the Plant area : 5% of claim amount subject to

minimum of Rs. 5 lacs.

d) For Add-on Covers : If the total assessed loss (PD+ Add-ons)

is less than 1.25 Crs., but the combined
expenses exceed Rs. 25 Lakh, the insurer
will be liable to indemnify the insured
only to the extent of the combined Add-
on expenses exceeding Rs. 25 Lakh per
claim.

e) For Minor Works and Inland Transit :For Minor Work -As per EAR/CAR Tariff
Provision .
For Inland Transit – 1% of the
consignment value subject to minimum
of INR 10,000/-.

Business Interruptions :

i) FLOP : 30 days of Standard Gross Profit of the affected unit (s) / line(s)
/department(s) for each and every occurrence.

Note: Gross Profit for the purpose of this deductible means the amount equivalent
 to the rate of Gross Profit applied to the Standard Turnover/ output for 30 days of
the affected unit(s) /line(s) /department(s).

ii) MLOP : 45 days of Standard Gross Profit of the affected unit(s) / line(s) /
department(s) for each and every occurrence
Note: Gross Profit for the purpose of this deductible means the amount
equivalent to the rate of Gross Profit applied to the Standard Turnover/ output
for 45 days of the Unit(s)/line(s)/department(s)

iii) Indemnity Period : 12 Months

For Burglary Policy

Burglary, Theft & Robbery Clause : 2.5% of claim amount subject
to a minimum of Rs. 25,000/-

 CLAIM SETTLEMENT PROCEDURE:

Insurance Company will put in place a claim settlement procedure that is positive,
prompt, transparent and targets at “zero” pendency status. They will arrange an
awareness program to educate the WBPDCL Officials w.r.t. claim procedures and
documentation requirements thereof, at least once in a year as per the mutually
agreed date and time.
i. On intimation of any loss where a Surveyor has to be appointed for assessing a
loss/claim it shall be so done within 48 hours of receipt of intimation from the
insured and the Surveyor shall be deputed from the approve panel of WBPDCL.
ii. The surveyor shall call for all the documents in support of claim in one go but not
in piece meal manner for expeditious settlement of claim, preferably at the time of
visit or within 3 days hereafter.
iii. Where the insured is unable to furnish all the particulars required by the Surveyor
or where the Surveyor does not receipt the full documents from the insured, the
insurer or the Surveyor as the case may be, shall inform in writing the insured
about the same to avoid delay in the assessment of the claim.
The Surveyor shall communicate its finding to the insurer within 30 days of his
appointment with a copy of the report in furnish to the insured, if he so desired.
 Where in special circumstances of the case, either due to its special and
complicated nature, the Surveyor shall under intimation to the insured, seek an
extension from the insurer or submission of his report. In no case shall a Surveyor
take more than Six Months from the date of his appointment to furnish his report.
iv. If an insurer, on the receipt of a survey report, finds that it is incomplete in any
respect, he shall require the Surveyor under intimation to the insured, to furnish
an additional report on certain specific issues as may be required by the insurer.
Such a request may be made by the insurer within 15 days of the receipt of
original survey reports. Provided that the facility of calling for an additional report
by the insurer shall not be resorted to more than once in the case of a claim.

v. The Surveyor on receipt of this communication shall furnish an additional report

within three weeks of the date of receipt of communication from the insurer. On
receipt of the survey report or the additional survey report, as the case may be, an
insurer shall within a period of 30 days offered a settlement of the claim to
the insured.
Upon acceptance of an offer by the insured, the payment of the amount due shall
be within 07 days from the date of acceptance of the offer by the insured. In the
cases of delay in the payment, the insurer shall be liable to pay interest at a rate
which is 2% above the bank rate prevalent at the beginning of the Financial Year in
which the claim is reviewed by it.
Assessment of the physical loss at least on provisional basis has to done on the 1st
visit itself and an interim report with photos/video should be given generally within
10 days to the insured. The property (ies) damaged must be frozen in this report.

If insured desires and on account payment of 50% is to be released within 10 days

based on preliminary survey report of the appointed Surveyor.

vi. In case of Burglary claim self-survey limit upto INR 1,00,000/- to be allowed.
 PREMIUM VS. CLAIM HISTORY:
Values are INR

MD SI LOP SI Premium Policy

PY TSI (Cr.) Claims Policy Leader
(Cr.) (Cr.) (A.I) (Cr.) Period
02.12.24
IFFCO-
2024-25 10218 1662 11880 6.58 Nil Mega to
Tokio 01.12.25
02.12.23
IFFCO-
2023-24 9647.91 1619.27 11267.18 12.75 Nil Mega To
Tokio 01.12.24
02.12.22
IFFCO-
2022-23 9647.91 1615.40 11263.31 18.59 Nil Mega to
Tokio
01.12.23
01.12.21
IFFCO-
2021-22 9549.13 1764.75 11313.88 14.47 Nil Mega to
Tokio
30.11.22
01.12.2
Bajaj
Mega to
Allianz
2020-21 9176.69 1625.09 10802 14.40 Nil 30.11.21
 FORM F-1

PRICE SCHEDULE

Bidder is to fill the Bill of Quantity (BoQ) as per the format given in the Portal.
 FORM F-2
DECLARATION ON THE RE-INSURANCE ARRANGEMENT
ON LETTER HEAD OF THE BIDDER
 Name & Address of the main Re-Insurance Companies under the existing treaty
arrangement now in force/Facultative Reinsurance ………………………….…………………
 Name of Contact Person with Contact no. and e-mail ……………………….…………………
 Rating (A- or higher. However, the same is not applicable for GIC Re.) of the Re-
Insurance Companies: (Lead Reinsurer under Treaty/Facultative Reinsurance as
applicable): ………….……………………….……………………………………………………..…
 Name of the Certifying Agencies : …………………………………………..…..……………………
 PML considered as per treaty agreement for large risk: ……………..………..………………
 Total Sum Insured: (PD+BI combined): INR ……………………………………………………...
Allocation:
Arrangement % age PML Allocation S.I. Allocation
Net Retention
Obligatory – GIC
Surplus Treaty
Quota Share, if any
Addl. FAC Support, if any

Total:
Note:
1. In the event of considering the reduced PML by deviation from the minimum PML
guidelines as per the treaty agreement for large risk, the bidder should provide
approval/confirmation from the treaty reinsurer in respect to the same.
2. In case of bidder seeking support from domestic insurer for facultative placement or
any other form of reinsurance support, the insurer shall be mindful of the need to use
only such reinsurers who are rated “A-” or higher by any major recognized credit rating
agency as per tender condition .
Date: ……………………….. Signature: ………………………
Place:………………………. Name: …………………...……….
Seal: …………………..……
1. Minimum Financial Rating should A- or higher (not applicable for GIC Re.)
N.B.: Confirming capacity percentage is not mandatory for national Reinsurer M/s GIC Re
 FORM F-2.1

TREATY RE-INSURANCE SUPPORT LETTER

(ON LETTER HEAD OF THE TREATY RE-INSURER)
To
The Sr. Manager (Import, C&I)
The West Bengal Power Development Corporation Limited
“Bidyut Unnayan Bhaban”
Plot No. – 3/C, LA-Block, Sector-III, Salt Lake City
Kolkata- 700106

Subject: Reinsurance support letter for Mega All Risk Package Insurance Policy
A/c The West Bengal Power Development Corporation Limited (WBPDCL)

Ref: Tender No.: WBPDCL/CORP/NIT/E2123/25-26 DATED 09.09.2025

Dear Sir,

1. With reference to the above, it is hereby confirm that we have financial security rating
………. by security rating agency viz. S&P/A.M. Best/Moody’s as on today’s date.

2. We confirm that we have provided reinsurance support to M/s ………………. for Mega
All Risk Package Insurance Policy (Excluding Terrorism) of Sagardighi Thermal Power
Project to the extent of ……………..% of the total Sum Insured (PD+BI) combined INR
………………………………. for the particular risk placed under Property Damage &
Business Interruption Section through automatic treaty capacity.
Date: ……………………….
Place: ………………………
Signature: ……………..………
Name : ………………………….
Seal: ………………………….…
1. Minimum Financial Rating should A- or higher (not applicable for GIC Re.)
2. Certificate of other Accredited Rating Agency may be accepted only of domestic
insurers providing FAC Support.
 FORM F-2.2

FACULTATIVE RE-INSURANCE SUPPORT LETTER

(ON LETTER HEAD OF THE FACULTATIVE RE-INSURER)
To
The Sr. Manager (Import, C&I)
The West Bengal Power Development Corporation Limited
“Bidyut Unnayan Bhaban”
Plot No. – 3/C, LA-Block, Sector-III, Salt Lake City
Kolkata- 700106.

Subject: Reinsurance support letter for Mega All Risk Package Insurance Policy
A/c The West Bengal Power Development Corporation Limited (WBPDCL)
Ref: Tender No.: WBPDCL/CORP/NIT/E2123/25-26 DATED 09.09.2025
Dear Sir,

1. With reference to the above, it is hereby confirm that we have financial security rating
…. or higher (by security rating agency viz. S&P/A.M. Best/Moody’s as on today’s
date.

2. We confirm that we have provided reinsurance support to M/s ………………. for Mega
All Risk Package Insurance Policy (Excluding Terrorism) of Sagardighi Thermal Power
Project to the extent of ……………..% for the particular risk placed under Property
Damage & Business Interruption Section.

Date: ………………………..
Place: ………………………
Signature: ……………………………
Name: ……….……………………….
Seal: ……….…………………………
N.B.:
1. Minimum Financial Rating should A- or higher (not applicable for GIC Re.)
2. Certificate of other Accredited Rating Agency may be accepted only for domestic
insurers providing FAC Support
 FORM F-3
SELF DECLARATION
(ON THE LETTER HEAD OF THE BIDDER)

Ref: Tender No.: WBPDCL/CORP/NIT/E2123/25-26 DATED 09.09.2025

We hereby declare that we have not been suspended/delisted/banned

blacklisted/debarred by any other Govt. Ministry/Department/ Public Sector
Undertaking/IRDA/SEBI/Autonomous Body/Financial Institution/Court etc.. We
certify that neither our Company nor any of the Directors are involved in any scam or
disciplinary proceedings settled or pending adjudication.

We hereby undertake and confirm that we shall comply with the Guidelines of IRDA.

We also confirm that the premium submitted by us is final & binding on us and will
not be revised from our side. Only in case of any regulatory level change or guideline
by Central Government/IRDAI/GIC/IIB becoming effective between the submission of
our tender & before the placement of Work-order to us by WBPDCL, we will confirm
the impact of such change on premium in writing to WBPDCL for their consideration.

Date: ………………………..
Place: ………………………
Signature: ….………………….….…
Name : …….…………………….……
Seal : ……………………..………….
 FORM F-4

INDEMNITY CERTIFICATE
(CERTIFICATE ON THE LETTER HEAD OF THE BIDDER)

TENDER NO.: WBPDCL/CORP/NIT/E2123/25-26 DATED 09.09.2025

This is to certify that (name of Ins. Co) will indemnify The West Bengal Power
Development Corporation Ltd. against all losses (if any) under the Policy for the period
starting from 00:00:00 Hours of 02.12.2025 to 24:00:00 Hours of 01.12.2026.

It is further certified that, the rates quoted by us are approved by IRDA and in the
event of selection as successful bidder, the policy will be issued strictly complying all
the provision of tariff/IRDA guidelines.

Date: ………………………..
Place: ………………………
Signature : ………………………………
Name :………………………….……
Seal :……………………………….
 FORM F-5
MEMORANDUM OF UNDERSTANDING TO BE EXECUTED BETWEEN
THE WEST BENGAL POWER DEVELOPMENT CORPORATION LIMITED
AND

The West Bengal Power Development Corporation Limited (WBPDCL) has

appointed M/s (herein referred to as “insurer”) as sole insurer/
consortium leader to issue policies in respect of its power project assets as per
the proposal floated through this Tender Memo No.
WBPDCL/CORP/NIT/E2123/25-26 DATED 09.09.2025in order to establish
proper understanding and to provide efficient and satisfactory services by the
Insurer, this Memorandum of Understanding (MOU) has been signed between
M/s and WBPDCL, the parties, hereby agree as follows :-
Documentation
1. The lead insurer will issue the held cover note immediately after receipt of
payment of premium by cheque, and the draft policy wordings will be submitted
to WBPDCL within 15 days of receipt of cheque. Final policy (03 sets) will be
issued within 15 days after receipt of comments from WBPDCL if any.
2. Any amendment of the policy shall be confirmed by issuing endorsement
within seven working days of the receipt of the necessary information/premium
from WBPDCL.
Claims
The claim procedure has been defined in Tender documents and insurer is liable
to act accordingly.

For WBPDCL. For (Insurer company)

Authorized Signatory Authorized Signatory

Date: …………………….
Place: ……………………..
 FORM F-6

Undertaking for Non-Cartelization

(Declaration is to be given on 10 Rs. Non-Judicial Stamp Paper)

I, (Mr /Ms.) General Manager/Authorized person of M/s

(name of Insurance Company) do hereby undertake that our quotation is purely

based on our assessment of your risk and that we do not enter with other bidders
into any undisclosed agreement or understanding, whether formal or informal. We
further hereby confirm that this applies in particular to prices, coverages & add-ons,
specifications, certifications, submission or non-submission of bids or any other
actions to restrict competitiveness or to introduce cartelization in the bidding process.

We understand that if we enter into any form of cartelization our bids may be rejected
and we may be blacklisted from participation in future tenders of the Corporation.

(Signature)

(General Manager/Authorized Person)

 FORM F-7

DECLARATION
(ON THE LETTER HEAD OF THE BIDDER )

Ref: Tender No. WPDCL/NIT/E2123/25-26 DATED 09.09.2025

The bidder certifies that the Ratio in respect of Number of Claims settled upto 1st
Quarter of FY 2025-26( 30th June, 2025) as per IRDAI Public Disclosure) is ……………

as calculated based on data of Fire LoB and as per the under noted methodology:

[Number of Claims settled during the period]

[Number of Claims O/S at the beginning of the period +
Number of Claims reported during the period]

Date: ……………….………
Place : ………………………
Signature : ……………….………..
Name : ……………………………...
Seal : ………………………………..
 ANNEXURE I : BIDDER INFORMATION SHEET
(To be filled, signed and attached)
1.0 Proposal No. and Date
2.0 Validity of offer from date of opening of bid
3.0 Name and Communication Details
3.1 Full legal name of Prime Bidder
3.2 Registered Office details
a) Address
b) Contact Telephone Nos.
c) Email ID

d) Fax. Nos.
e) Person to be contacted
3.3 Kolkata office details

a) Address

b) Contact Telephone Nos.

c) Email ID
d) Fax. Nos
e) Person to be contacted
4.0 Nature/status of candidate firm (whether sole
Proprietary/ Partnership)/Private Limited/
Public Limited/Public sector)

4.1 Type of organization and its legal entity

a) In case of individual: Give his full name,

address, place and nature of business.
b) In case of partnership firm: Give the names
of all the partners and their addresses.

c) In case of companies: Give date and place of

registration including date of commencement
certificate in case of public companies.
5.0 Names of Responsible persons and their designation: (for handling all
aspects of this tender/order)
 Telephone
Person Designation Based at
No./E-mail/Fax
a)
b)
c)

6.0 Power of Attorney/Letter of Authority (An

attested copy to be enclosed in case the Enclosed/Not enclosed
tender/ offer is signed by an Individual other
than the sole proprietor)

7.0 Authorization& Alteration to Tender has been

Yes/No
signed by person duly authorized/ empowered
to do so

8.0 In case of placement of the order(if placed),

the address with GSTIN no. of the office to be
addressed:

9.0 Product catalogues, leaflets etc. attached Yes/No

10.0 Financial Details of the Bidder

10.1 Name & address of Bankers

10.2 GST Registration details

10.3 PAN/TAN No.

Signature: .......................
SEAL OF COMPANY

Name:....................... Designation: .......................

* Scanned self attested copies of certificates/documents, as applicable to be

submitted. Authorized Signature, Name & Designation
 ANNEXURE II: DECLARATION

A. I, on behalf of (name of the

company/ partnership firm)---------------------------------------------do hereby
declare that I have gone through all the provisions of NIT No. ------------------------
Dated------------(including subsequent Addenda/ Corrigenda and other
documents) and clearly understood the implications of all those provisions and
submitting my / our bid adhering all the provisions of said NIT (including
subsequent Addenda/ Corrigenda and other documents).

B. I, on behalf of M/s. (name

and address of the bidder) do hereby declare that no
additions/deletions/corrections have been made in the downloaded/supplied
tender document and the tender document submitted by M/s
(name of the bidder) is identical to the one appearing in the procuring entity’s
portal/supplied by the procuring entity.

C. I, on behalf of M/s. (name and

address of the bidder) do hereby declare that if we are selected as the lead insurer,
we will issue the Policy exactly as per the base wordings, exclusions, add-on
covers, add-on wordings and all other wordings/instructions as provided in this
NIT. I also confirm that if we areselected as one of the follower insurer we will
agree to take the follower share exactly as per the base wordings, exclusions, add-
on covers, add-on wordings and all other wordings/instructions as provided in
this NIT. I also confirm that I will not change/update any part of the base
wordings, exclusions, add-on covers, add-on wordings and all other
wordings/instructions as provided in this NIT.

I, hereby, further declare that all the above information declared hereinabove, are
true to the best of my knowledge and in the event any of the above information at
a later stage, is found to be false, by the Procuring Entity, the Procuring Entity
shall be at liberty to take any action as deemed fit at my/ our sole risk and cost.

Signature of Bidder / Authorized representative Seal of the Company

Must be executed on Non-Judiciary Stamp Paper of INR 10 or higher & duly

filled, signed and sealed by authorized signatory of the bidder and upload it.
 ANNEXURE-III

WORDINGS FOR ADD-ON CLAUSES

1. Earthquake (Fire & Shock) including Tsunami & volcanic Eruption:

It is hereby agreed and declared that notwithstanding anything stated in the printed
exclusions of this policy to the contrary, this Insurance is extended to cover loss or
damage (including loss or damage by fire) to any of the property Insured by this policy
occasioned by or through or in consequence of earthquake [(Fire and Shock) including
Tsunami and Volcanic Eruption] including flood or overflow of the sea, lakes, reservoirs
and rivers and/or Landslide/Rockslide resulting there from.

Provided always that all the conditions of this policy shall apply (except in so far as they
may be hereby expressly varied) and that any reference therein to loss or damage by fire
shall be deemed to apply also to loss or damage directly caused by any of the perils which
this insurance extends to include by virtue of this endorsement.

2. Storm Tempest Flood & Inundation:

The insurance by the Policy shall include Loss, destruction or damage directly caused by
Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood or Inundation.

3. Riots, Strikes, Malicious Damage

The insurance by the Policy shall include loss, destruction or damage caused by riots,
strikes, malicious damage and civil commotion.

4. Omission to Insure Additions, Alterations or Extensions:

The Insurance by this Policy extends to cover property insured as defined in the Schedule
here of which the insured may erect or acquire or for which they may become responsible :-
a) at the within described premises
b) for use as factories
i) The liability under this Extension shall not exceed in respect of (a) above, 5% of the Sum
Insured by each item, in respect of (b) above, 5% of the Sum Insured by item No..........
ii) The Insured shall notify the Insurer of each additional insurance as soon as it shall
come to their knowledge and shall pay the appropriate additional premium thereon from
the date of inception.
iii) Following the advice of any additional insurance as aforesaid, cover by this extension
shall be fully reinstated.
No liability shall attach to the insurers in respect of any Building, Machinery, Plant or
other Contents while such property is otherwise insured.

5. Escalation:

The policy permits for automatic pro-rata increase in the sum insured in respect of assets
@ 5% from the date of inception till expiry of the policy. The increase in the sum insured
shall be 1/365 of the above-specified percentage for each day since inception upto the date
of the loss.
6. Disposal of Salvage

The insured has the right to keep the salvage but if they decide not to keep the salvage it is
the responsibility of the insurance company to carry out the process of salvage disposal.
Any claim amount would not be held back if salvage disposal does not take place due to
any reason. The claim amount would be paid in full if salvage amount cannot be
ascertained within a month’s time.

7. Designation of Property Clause:

For the purpose of determining, where necessary, the item under which any property is
insured, The Insurer agrees to accept the designation under which the property has been
entered in The Insured’s books

8. Reinstatement Value Clause:

At the option of The Insured in the event of loss or damage to the Property Insured the
insurance benefits in respect thereof shall be based on the cost of replacing or reinstating
The Insured property or other property as The Insured may require.

Provided that the liability of The Insurer shall not exceed the cost of replacing or
reinstating the property with property of a substantially similar kind and type not being
superior to or more extensive than The Insured property when new.

Subject to the following Special Provisions and the terms and conditions of the Policy
except as varied hereby:

The replacement or reinstatement (which may be carried out upon another site and in any
manner suitable to the requirements of The Insured or by other alternative real capital
investment made for the benefit of the business subject to the liability of The Insurer not
being thereby increased) shall be commenced within 24 months (twenty four months) after
the occurrence of the damage or within such further time as The Insurer may grant.

However payment will be made by The Insurer as if the reinstatement or replacement has
been done within the said 24 months (twenty four months) provided that a firm
commitment is shown to The Insurer’s satisfaction that the replacement or reinstatement
will be eventually completed.

Until actual expenditure has been incurred by The Insured in replacing or reinstating The
Insured property destroyed or damaged The Insurer shall not be liable for any amount in
excess of the amount which would have been payable under this Policy had the
memorandum not been incorporated herein.

Should the property lost or damaged not be in current production then The Insurer’s
liability shall be limited to the full cost of replacing or reinstating property in current
production most similar to the property lost or damaged.

The cost of reinstatement shall include the expenses of adapting the newly acquired
property to the existing undamaged property including the replacement of property, which
cannot be used as such as necessary to reinstate the operation of the plant unit process.
Where for any reason, it is not possible or if The Insured elects not to rebuild or replace,
The Insurer will pay to The Insured the Actual Cash Value of the property at the time of
Loss.

Where the repair or replacement of the damaged or lost Property Insured involves import
into the country of The Insured property, the replacement value as aforesaid shall include
actual Import Duty including, but not limited to basic duty, countervailing duty, special
additional duty, surcharge and other additional duties or any monetary equivalent of
liability undertaken or incurred in lieu thereof.

9. Local Authorities:

The insurance by this policy extends to include such additional cost of reinstatement of
the destroyed or damaged property hereby insured as shall be incurred solely by reason of
the necessity to comply with the Building or other Regulations under or framed in
pursuance of any act of Parliament or with Byelaws of any Municipal or Local authority
provided that

1) The amount recoverable under this extension shall not include:

a) The cost incurred in complying with any of the aforesaid Regulations or Bye-laws,
(i) In respect of destruction or damage occurring prior to the granting of this extension,
(ii) In respect of destruction or damage not insured by the policy.
(iii) Under which notice has been served upon the insured prior to the happening of the
destruction of damage,
(iv) In respect of undamaged property or undamaged portion of property other than
foundations (unless foundations are specifically excluded from the insurance by this
policy) of that portion of the property destroyed or damaged,

(b) the additional cost that would have been required to make good the property damaged
or destroyed to a condition equal to its condition when new had the necessity to comply
with any of the aforesaid Regulations of Bye-laws not arisen,

(c) the amount of any rate, tax, duty, development or other charge or assessment arising
out of capital appreciation which may be payable in respect of the property or by the
owner thereof by reason of compliance with any of the aforesaid Regulations or Bye-laws.

2) The work of reinstatement must be commenced and carried out with reasonable
dispatch and in case must be commenced within twelve months after the destructions or
damage or within such further time as the Insurers may (during the said twenty four
months) in writing allow and may be carried out wholly or partially upon another site (if
the aforesaid Regulations or Bye-laws so necessitate) subject to the liability of the insurer
under this extension not being thereby increased.

3) If the liability of the insurer under (any item of) the policy apart from this extension
shall be reduced by the application of any of the terms and conditions of the policy then
the liability of the Insurers under this extension (in respect of any such item) shall be
reduced in like proportion.

4) The total amount recoverable under any item of the policy shall not exceed the sum
insured thereby.

5) All the conditions of the policy except in so far as they may be hereby expressly varied
shall apply as if they had been incorporated herein.
10. Goods held in trust, care/custody/control:

Goods held in trust/, care/custody/control will be covered provided the insured gives
sufficient proof of insurable interest in the same.

11. Impact Damage due to insured’s own Rail/ Road Vehicles, Forklifts, Cranes,
Stackers and the like and articles dropped there from:

It is hereby agreed and declared that the policy is extended to cover loss and/or damage
caused due to impact by direct contact to Insured’s property caused by Insured’s own
Rail/Road Vehicle, Forklifts, cranes, stackers and the like and articles dropped there from.

12. Undamaged Foundations:

Notwithstanding anything to the contrary in this policy or in any of its conditions, it is

hereby agreed and declared that, following the operation of an insured peril resulting in an
admissible loss ,only the insured building is damaged with no damage to building’s plinth
and foundations ,with the consent of the insurer, if reinstatement of the damaged Property
is to be carried out in any other position or elsewhere whether for reason of the exercising
of state or local government requirements or otherwise, the abandoned building’s plinth
and foundations will be considered as being destroyed by the Insured Peril and the
Insured shall be indemnified subject to the terms and conditions of the policy and
provided that the value of plinth and foundation has been declared by the Insured.

13. Transit Risks (within premises)

Transit risk within the premises is covered under this Policy.

14. Conveyor belts & chains:

It is agreed and understood that otherwise subject to the terms, exclusions, provisions
and conditions contained in the Policy or endorsed thereon, this insurance shall be
extended to cover loss of or damage to conveyor belts and chains. Provided always that
such loss of or damage to conveyor belts and chains is caused by an accident
indemnifiable under the Policy.

15. Spontaneous Combustion :

The policy is extend to include loss or damage of or to the property insured caused by its
own fermentation, natural heating or spontaneous combustion for the stock.

16. Cover for lubricating oil, oil in transformers, machine foundations, operating
media and refrigerants:

It is agreed and understood that otherwise subject to the terms, exclusions, provisions
and conditions contained in the Policy or endorsed thereon, the Insurers shall indemnify
the Insured for loss of lubricating oil, oil in transformers, machine foundations, operating
media and refrigerants, caused by an indemnifiable accident to the above-named items,
subject to a deduction of proper depreciation according to the average life expectancy
indicated by the manufacturer or otherwise to be determined at the time of the loss.

17. Cover for refractory material and/or masonry and/or lining:

It is agreed and understood that otherwise subject to the terms, exclusions, provisions
and conditions contained in the Policy or endorsed thereon, the Insurers shall indemnify
the Insured for loss of or damage to refractory materials and/or masonry and/or lining
(Exclusion to this effect contained in the Policy shall be deleted as far as applicable),
caused by an indemnifiable accident to the above-named items, subject to depreciation of
the amount indemnifiable in respect of the items thus affected, at an annual rate to be
determined at the time of loss, this rate not being more than 50% in total.

18. Dismantling Cost

The Insurer shall pay any reasonable costs to dismantle damaged equipment

19. Non-recoverable GST:

The Policy includes any GST which is not recoverable from GST authority as a direct
result of a loss under the policy.

20. Obsolete spare parts/Tools & Equipment :

In the event of spares currently insured hereunder and represented within the total sum
insured under the policy becoming obsolete following an indemnifiable loss to the Plant
and Machinery, the same should form part of the claim subject to Insurer’s retaining right
of salvage over such obsolete parts.

21. Industries, Seepage, Pollution and Contamination:

Notwithstanding anything to the contrary in this policy or in any of its conditions, it is

hereby agreed and declared that this policy is extended to cover loss or damage arising
due to seepage, pollution or contamination caused by a sudden, unintended and
unexpected happening during the period of this insurance.

22. Measures taken in avoidance of damage (Sue and Labour):

In case of actual or imminent physical loss or damage to insured Property by a peril

insured against, it shall without prejudice to this insurance, be lawful for the Insured,
their factors, servants, or assigns to sue, labour, and travel for, in, and about the defense,
the safeguard, and the recovery of the Property or any part of the Property insured
hereunder. In the event of loss or damage, the acts of the Insured or of the Insurers in
recovering, saving, and preserving the insured property shall not be considered a waiver or
an acceptance of abandonment. The expenses so incurred under this clause shall be
borne by the Insured and the Insurers proportionately to the extent of their respective
interests.

23. Appraisement Clause :

If the aggregate claim for any one loss destruction or damage does not exceed INR 30 Cr.
as stated in the Schedule by the item or items affected no special Inventory or
appraisement of the undamaged property shall be required. If two or more buildings be
included in a single item, this endorsement shall apply to the range of buildings and/or
contents by the item or items affected.

24. Smoke Soot Corrosive gases, heat waves Damage Cover :

This Policy is extended to include destruction of or damage to the property insured (by fire
or otherwise) directly caused by smoke, soot, corrosive gases and heat waves.

25. Leakage& contamination:

It is hereby agreed and declared that the Insurance under this policy shall, extend to
include the physical loss of stock by leakage and/or overflowing from its container,
storage tank or vessel, pipeline by accidental means and all accidental contaminations by
contact with foreign matter.

26. Contamination & co-mingling:

It is hereby understood and agreed that the Policy of insurance extends to cover loss or
damage to stock as a result of fortuitous accidental contamination and/ or accidental co-
mingling arising from a cause not otherwise excluded whilst in the Insured's care, custody
and control. Subject otherwise to the terms, exclusions, conditions and limitations of this
Policy.

27. Spoilage Material Damage

It is hereby agreed and declared that, notwithstanding anything contained to the contrary,
in the within written Policy, the insurance under this policy shall extend to cover loss or
damage by Spoilage resulting from the retardation or interruption or cessation of any
process or operation caused by any of the perils covered under this Policy, provided that
liability for destruction of or damage to the property insured described in the schedule to
this policy, or any part of such property, is first admitted by the company.

Provided always that all the conditions (except in so far as they may be hereby expressly
varied) shall apply as if they had been incorporated herein and that any reference therein
to the loss or damage caused by insured perils shall be deemed to apply also to loss or
damage caused by Spoilage which peril this insurance extends to include by virtue of this
Endorsement.

It is hereby further expressly agreed and declared that the liability of the Company shall in
no case under this endorsement and the Policy exceed the limit of liability as mentioned in
the schedule.
28. Architect’s Surveyor’s and Consulting Engineer’s Fees:

The insurance by the policy shall include an amount in respect of Architects' surveyors'
and consulting engineers and legal and other fees necessarily incurred in the reinstatement
of the property insured consequent upon its destruction or damage but not for preparing
any claim.

29. Expense for Foreign Consultant/Expert Visit

It is agreed that this Policy covers in respect of expense for Foreign Consultant /Expert
visits necessarily incurred in the reinstatement of the property insured consequent upon
its destruction or damage but not for preparing any claim.

30. Removal of Debris(including external/foreign debris):

It is agreed that this policy includes the cost and expenses of clearing debris (including
external/foreign debris), including the cost of cleanup, after loss, destruction or damage
by a contingency insured hereunder including but not limited to the costs and expenses
actually incurred in the necessary dismantling, removal, demolition, shoring up or
propping clearance of drains and sewers temporary boarding up of the property so
destroyed or damaged including undamaged portions and the removal of debris (including
the removal of contents whether damaged or undamaged) provided that:

-Such costs are not recoverable under any other policy of insurance.

-No liability is assumed for the expense of removal of any property or part thereof, the
removal of which is solely required by any government law of public ordinance.

This policy also insures against the costs of decontamination or removal of water, soil or
any other substance on or under the premises insured hereunder.

It is condition precedent to recovery under this extension that the insurer shall have paid
or agreed to pay for direct loss or damage to the property insured hereunder unless such
payment is precluded solely by the operation of any deductible.

31. Dewatering Expenses:

It is hereby agreed and understood that otherwise subject to terms, exclusions, provisions
and conditions contained in the policy or endorsed thereon the insurer shall indemnify the
insured all the expenses incurred towards dewatering & slush removal from any pit /
section within the premises / project site which are inundated partially or fully by water
by insurable event to recommence the operation or to render the pit / section safe.

32. Cost of Clearing Drains:

It is hereby declared and agreed that this Policy extends to cover any expense necessarily
incurred by the Insured in the clearing of drains within the surrounding premises as a
consequence of property insured by this policy being destroyed or damaged by fire or by
any other perils hereby insured against, it being understood that the total liability for such
clearing shall not exceed any one loss.

33. Expediting expense:

In the event of loss here under the insurer shall also pay, in addition to the indemnity
otherwise provided, the reasonable extra cost of safeguarding, preserving, temporary repair
and of expediting there repair of such damaged property, including overtime and extra cost
of express and other rapid means of transportation.

34. Immediate repairs:

The insured are permitted to conduct repairs or reconstruction of any loss or damage
necessarily required immediately to prevent further deterioration or other consequential
property damage and/or interruption of the business operations of the insured provided
the particulars of work (including the replaced damage items and photographs of the
situations of loss or damage) shall be kept available for review by the insurer or their
representatives.

35. Restoration of Record, Plan and Documents:

The coverage here in shall be extended to cover regeneration of lost data, data media and
records including plans &documents subject to:

i. The loss of data, data media and records having been caused by a damage covered
under sections All Risk or Machinery Breakdown.

ii. The following special exclusions shall apply:

Loss or damage for which the repair company or maintenance company is contractually
liable.

Any costs for standard adjustment, rectifying functional failures and maintenance of
insured object unless necessary in connection with the repair of an insured loss.
Normal wear and tear of media, Erroneous programming, perforating, loading or printing.

36. Start-up expenses :

It is hereby agreed and declared that this policy extends to cover start-up costs including
failed Start-up cost necessarily and reasonably incurred by the insured consequent upon a
loss or damage covered by this policy.

37. Shut-down expenses :

It is hereby agreed and declared that this policy extends to cover shut down costs
including failed Shut-down cost necessarily and reasonably incurred by the insured
consequent upon a loss or damage covered by this policy.

38. Minor Works:

It is hereby understood and agreed, subject otherwise to the terms, conditions and
exclusions of the Policy and endorsed hereon and subject to the Insured having paid the
agreed additional premium that the insurance by this Policy shall extend to cover
modifications / construction / erection / re-construction / maintenance / testing and
commissioning in respect of new assets as well as existing assets during the Period of
Insurance as specified in the Schedule to this Policy.

The Policy shall respond on claims made basis for reported claims during the current
Period of Insurance in respect of current ongoing minor works (project).

However the aggregate claim amount payable shall be restricted to as stated in the
Schedule and there shall be no restriction for number of minor works to be covered during
the Policy period.

Consequential Loss following a loss covered under the extension is excluded.

Excess/deductible – As per EAR/CAR Tariff Occupancy Provision .

39. Loss Minimization / loss prevention expenses:

This Policy includes expenses for loss minimization necessarily incurred by the insured to
prevent any aggravation of an insured loss following a loss or damage to the subject matter
insured, due to a cause not excluded, at insured’s Premises, specified in the Schedule,
including moving/ shifting property if this contributed to loss minimization.

40. Inland Transit:

It is agreed and understood that otherwise subject to the terms, exclusions, provisions
and conditions contained in the Policy or endorsed thereon, the insurance shall be
extended to cover the loss or damage to the insured property whilst in transit anywhere in
India other than on waterway or by air provided that:

a) it is a physical property excluding stock (i.e. raw materials, finished goods,

intermediates, fragile items such as glass)
b) the property is owned by the insured
c) it is being moved from one location to another for business exigency
d) the coverage’s is as per Inland Transit Clause A (ITC-B for used /second hand items
with SRCC, TPND and loading, unloading impact damage and malicious damage.
e) the insured property is suitably packed and/or prepared for transit
f) the maximum amount payable under this endorsement shall not exceed INR
250,000,000 per conveyance
g) excess /deductibles -1% of the consignment value subject to minimum of INR 10,000/-

41. OEM Parts:

It is noted and agreed that in the event of accidental physical loss or damage to the
Property Insured hereunder The Insured, at sole discretion, shall have the option to accept
repair or replacement terms as offered by the Original Equipment Manufacturer (OEM)
regardless of any other terms offered from other suppliers, manufacturers or fabricators.
Provided always that the quotes are based on same technological specifications. As far as
reasonable the order for repairs/ replacement can be placed with OEM on single quote
basis for proprietary items/ equipments.

42. Catalysts & Consumable Interests in Process

Notwithstanding anything to the contrary in this policy or in any of its conditions, it is

hereby agreed and declared that the policy is extended to cover admissible loss or damage
to catalyst and consumable materials in the course of process due to the operation of
insured perils including material consumed during trial and testing .

This extension also covers loss and / or damage of catalyst due to sudden
leakage/contamination /spoilage/ poisoning /deactivation by a cause not excluded under
the policy.

43. Capital Additions:

The insurance hereby extends to cover:

i. newly acquired buildings, machinery and plant;
ii. alterations, additions and improvements to the property insured.

No additional premium shall be payable in respect of such increase as mentioned in the

schedule.

44. Involuntary Betterment:

In respect of loss or damage to property covered under the Policy the insured may repair or
replace with equivalent property which employs or recognizes current technology and/or
Regulatory/Statutory requirement becoming operative at the time of Damage and
replacement or repair with such property shall not, for the purposes of this Cover, be
regarded as being better or more extensive than new.

This Cover further extends to include the replacement of undamaged property in so far as
it is necessary in order to adapt the remainder of the undamaged property to operate
conjunction with that property which has been Damaged and repaired or replaced.

Should the amount of loss or damage in spite of betterment be well within the
Reinstatement Value the limit under the involuntary Betterment should not be triggered.

Subject to otherwise to the terms exclusions, conditions and limitations of the Policy.

45. Temporary Removal of Property other than stock:

We will extend the cover provided by this cover section to property while it is temporarily
removed from any premises shown in the schedule to some other premises for any period
up to 90 days.

Provided that:
(a) this Extension of Cover is not provided to property in transit;
(b) this Extension of Cover is only available to property that can be correctly designated to
a category that has a declared value shown for the premises at which this property is
normally located
46. Third Party Liability & Damage to surrounding property:

This insurance will extend to insure sudden and unforeseen physical loss or damage to
surrounding property of the insured described in the Schedule or to property held by the
insured in trust or on commission or for which he is responsible; and to indemnify the
insured in respect of any Liability of the Insured at law on account of -
a) death of or bodily injury to any person (other than a person under a contract of service
or apprenticeship with the Insured sustaining death or bodily injury which arises out of
and in the course of employment with the Insured);
b) damage to property not belonging to the Insured nor held in trust or on commission nor
for which he is responsible arising out of perils insured under MD section
With regard to a claim for compensation to which the indemnity provided herein applies,
the insurers shall in addition indemnity the insured in respect of
a. All costs and expenses of litigation recovered by any claimant from the insured
b. All costs and expenses incurred with the consent of the insures
Provided that the liability of the Insurer for any one item of the insured property and Third
Party Liability shall not exceed in the aggregate in any one period of Insurance the Sum
Insured set against such item in the attached Schedule(s) unless the Sum Insured under
such item is reinstated after occurrence of a claim for balance period.

47. Inadvertent Omission:

Notwithstanding anything to the contrary in this policy or in any of its conditions, it is

hereby agreed and declared that the insured having notified the Company of their
intention to insure all property in which they are interested and it being their belief that
all such property is insured, if hereinafter any such property shall be found to have been
inadvertently omitted, the Company will deem it to be insured within the terms of this
policy.

48. Additional Customs Duty:

This section extends to indemnify the insured in respect of any additional / extra Import /
Customs duties in excess of %age already included in the Sum Insured incurred in the
event of a claim for which indemnity is provided by this section of the policy or which
would have been but for application of Insured s Retained Liability, indemnified.

49. Deliberate Damage

This Policy extends to cover physical loss of or damage to Property Insured or expenses
incurred by the Insured, directly caused by any act or order of any governmental authority
acting under the powers vested in them to prevent or mitigate the pollution hazard or
threat thereof, resulting directly from damage to the Property Insured, provided such act
of governmental authority has not resulted from lack of due diligence by the insured to
prevent or mitigate such hazard or threat, thereof and to any other physical damage.

Limit of Indemnity: As specified in the Schedule

50. Demolition & Increased Cost of Construction

In the event of loss or damage under this policy that causes the enforcement of any law or
ordinance regulating the construction, repair, or use of property, Underwriters shall be
liable for the following:
A. The cost of demolishing the undamaged property;

B. The Proportion that the value of the undamaged part of the property bore to the value
of the entire property prior to loss;

C. Increased cost of repair or reconstruction of the damaged and undamaged property on

the same or another site and limited to the costs that would have been incurred in order
to comply with the minimum requirements of such law or ordinance regulating the repair
or reconstruction of the damaged property on the same site. However, Underwriters shall
not be liable for any increased cost of construction loss unless the damaged property is
actually rebuilt or replaced.

51. Decontamination and Cost of Clean Up Expense:

If insured property is contaminated as a direct result of physical damage insured by this

Policy and there is in force at the time of the loss any law or ordinance regulating
contamination, including but not limited to the presence of pollution or hazardous
material, then this Policy covers, as a direct result of enforcement of such law or
ordinance, the increased cost of decontamination and/or removal of such contaminated
insured property in a manner to satisfy such law or ordinance. This Additional Coverage
applies only to that part of insured property so contaminated as a direct result of insured
physical damage.

The Company is not liable for the costs required for removing contaminated uninsured
property nor the contaminant therein or thereon, whether or not the contamination
results from an insured event.

52. Location of leak search:

The policy extends the indemnify the insured for expenses incurred in the location of leaks
including the cost of :

a) Hydrostatic Tests and associated costs of equipment and specialist services.

b) Radiographic and/or ultrasonic testing of welded joints/seems to ensure
hydrostatic integrity ; and
c) necessary earthwork (excavation, uncovering of the pipeline, backfilling) to
investigate/ search/ locate/ repair leaks.

53. Unrepaired damage:

In the event of Insured deciding not to replace or repair the damaged item covered under
the policy and decides to continue with the damaged item after incurring necessary
expenditure for safe working of the damaged item, the Insurer shall indemnify amount
expended in making the item safe plus the reasonable repair cost which would have been
incurred by the Insured had the Insured repaired the damaged item or reasonable amount
equivalent to reduced life of damaged item, but the maximum indemnity not to exceed
repair cost up to the actual value.

54. Modification cost and expenses for incompatibility of Equipment:

The Insurance by this Section is extended to cover the cost or expense of

(i) modification of equipment including computer and ancillary equipment (the equipment)
being the damaged equipment or undamaged equipment.
and or
(ii) the replacement restoration or recompilation of computer records where there results
in the event of the loss incompatibility between the replacement equipment and the
existing equipment and or the computer records.

Where a claim under (i) or (ii) above shall occur then the basis of settlement shall be
whichever is the lesser of the two amounts to achieve compatibility in the event that the
loss of the equipment insured by this Policy has resulted in undamaged Computer
Records being unavoidably incompatible with the replaced equipment.

The liability of the Insurer shall not exceed the Inner Limit of Liability stated in the
Specification.

55. Employee personal property/effects:

The Policy is extended to include loss of or damage to Personal Property of Employees for
which the Insured is responsible whilst at the Premises of the Insured or damage to
Personal Property of Employees for which the insured is responsible while at the Site or
right-of-way.

56. Accidental Discharge of Gas Flooding Systems :

Covers reasonable costs/expenses incurred by the insured in refilling cylinders of any gas
flooding systems installed for the protection of property arising out of the accidental
discharge of such system.

57. Trace and Access:

Subject to prior approval of the insurer the insurer will reimburse the insured with costs
and expenses incurred in investigating and identify the cause of Damage, and of
identifying the location of such cause.

Such reimbursement will include costs (including consulting engineer’s fees) incurred with
the prior consent of the insurer in conducting investigation and/or tests into possible
repair (whether or not successful) replacement or reinstatement of property suffering
Damage.

58. Outbuilding Clause:

It is hereby agreed and declared that notwithstanding anything to the contrary in this
policy or in any of its conditions it is understood to include walls, gates and fences, small
outbuildings, extensions, annexes, exteriors staircase and steel or iron frameworks in this
said premises.

59. Landscaping Cost:

This Policy is extended to cover the reasonable cost of remarking, reconstituting,

redesigning and purchasing as necessary in order to replace surrounding and internal
landscape grounds and gardens following Damage.
60. Fire Fighting Expenses/Foam Consumption:

It is agreed that in the event of a fire or a series of fires arising directly or indirectly from
the same occurrence including fire threatening to involve the Property insured under this
Section of the Policy, the Insured shall be entitled to recover:

i) The actual cost of materials used and/or damaged in extinguishing or controlling or

attempting to extinguish or control any such fire;
ii) The cost of all clothing and/or personal effects damaged and/or lost as a result of such
fire and/or fighting, extinguishing or controlling or attempting to fight, extinguish or
control such fire unless more specifically insured elsewhere;
iii) All other actual expenses (including wages and the like paid for firefighting,
extinguishing or controlling or attempting to fight, extinguish or control such fire and/or
localizing such fire)
iv) The expenses incurred to recharge/refill any fire protection devises including but not
limited to:
a) replacing or refilling fire extinguishing appliances
b) replacing used sprinkler heads
c) refilling sprinkler tanks where water costs are metered
d) resetting fire and intruder alarms
e) fire brigade charges
f) replacing fire extinguishing materials.

61. Temporary removal of stocks:

It is agreed that the stock insured hereby while temporarily removed to any other premises
for purposes of fabrication or processing or finishing or other similar purposes. This
extension does not apply to stock if and so far as it is otherwise insured.
The pro-rata condition of average should be applied to the limit of stocks temporarily
removed as well as to the total sum insured of such stock under the policy.

62. Sprinkler Upgradation Cost:

It is agreed that in the event of Damage to a sprinkler installation which conforms to the
latest rules on compliance of safety rules on Sprinkler Installations if the Insurer of the
premises in which the installation is contained require that the repaired or reinstated
installation shall conform to the Loss Prevention Rules for Sprinkler Installations current
at the time of reinstatement then this Policy shall cover such additional costs Such costs
shall include inter alia the provision of any additional pipe work pumps tanks and the
cost of associated building works
The liability of the Insurer under this clause shall in no case exceed the Sum Insured on
the item including such sprinkler installation.

63. Offsite Premises:

It is hereby understood and agreed, subject otherwise to the terms, conditions and
exclusions of the Policy and endorsed hereon, that this Policy extends to cover property
(machineries/equipments and stocks) of the insured temporarily stored in unspecified
locations outside the insured premises subject to these properties being part of the
declared Sum Insured. This cover is subject to Territorial scope as specified in the policy.
64. Control of Damaged Property

This Policy gives control of physically damaged property as follows: 1) The Insured will
have full rights to the possession and control of damaged property in the event of insured
physical damage to such property provided proper testing is done to show which property
is physically damaged. 2) The Insured using reasonable judgment will decide if the
physically damaged property can be reprocessed or sold. 3) Property so judged by the
Insured to be unfit for reprocessing or selling will not be sold or disposed of except by the
Insured, or with the Insured’s consent. 4) Any salvage proceeds received will go to the: a.
Company at the time of loss settlement; or b. Insured if received prior to loss settlement
and such proceeds will reduce the amount of loss payable accordingly.

65. Destruction of undamaged property:

It is hereby understood and agreed, subject otherwise to the terms, conditions and
exclusions of the Policy and endorsed hereon, that the insurance by this Policy extends to
cover the cost of destruction and subsequent replacement of undamaged property or
undamaged portions of property, if such destruction is solely necessary in order to carry
out repairs or reinstatement of the property insured by this Policy and for which The
Company has admitted liability. Provided that this shall not include any work necessary to
undamaged property to comply with any act, regulation or by-law of any local or Public
Authority.

For the purpose of this clause, "undamaged" shall mean not damaged physically and
directly by any event or perils not otherwise excluded by this Policy.

66. Pair & set clause:

In the event of insured loss or damage to personal property, this policy shall insure the
resulting reduction in value of the remaining undamaged components or parts of products
customarily sold as individual units or sold as pairs, sets, lots or in ranges.

At the Insured’s option, the Insured may collect the full value of the pair or set provided
the Insured tenders the remaining article or articles of the pair or set to the Insurer.

67. Alternative Basis Clause:

It is agreed and declared that, whenever found necessary, the term ‘Output’ may be
substituted for the term ‘Turnover’ and for the purpose of this policy ‘Output’ shall mean
the sale value of goods manufactured by the ‘Insured’ in the course of the business at the
premises,
Provided that:

(a) Only one such meaning shall be operative in connection with any one occurrence
involving damage (as within defined).
68. Adjustment of Trends

In determining the indemnity payable, the Rate of Gross Profit, Annual Turnover and
Standard Turnover, all as defined, shall be subject to such adjustments as may be
necessary to provide for the trend of the business and for variations in or other
circumstances affecting the business either before or after the damage or which would
have affected the business had the damage not occurred, so that the figures thus adjusted
shall represent as nearly as may be reasonably practicable the results which but for the
damage would have been obtained during the relative period after the damage.

69. Outage Clause:

This clause defines the period from the time the breakdown of any equipment resulting in
shut down of unit till the unit is synchronized and achieved full load or in operation for 72
hours since operation, whichever is earlier.

70. Aggravation Clause :

It is noted and agreed that the operation of the excluded perils shall not prejudice the
right of the Insured to recover under this Policy of Insurance any further loss caused by
aggravation of an originally covered loss within the period of Indemnity

71. Interdependency Clause:

It is hereby expressly declared and agreed that if damage to any of the joint Insured’s
premises/property should result in another of the Insured suffering a reduction in
turnover or increase in cost of working then such loss is deemed to be covered by this
Policy notwithstanding that no material damage was sustained by the latter
premises/property.

72. Departmental Clause:

If the business be conducted in departments the independent trading results of which are
ascertainable, this Business Interruption loss section, at the sole option of the Insured,
shall apply separately to each department affected by the damage.

73. Irretrievable Loss Clause:

In the event of irretrievable loss, the claim settlement for loss of production shall be made
immediately (without waiting for demonstration of such loss in the books of account)
based on gross profit applicable to resultant loss or the increase in cost of working
whichever is lower.

74. Delay in Repair:

The Insurer shall, within the agreed maximum indemnity period, be liable for a period not
exceeding fifty two weeks for any loss of interest insured resulting from a delay in repair or
replacement of lost or damaged property insured of foreign make, where such delay
results from import or export restrictions, customs regulations, currency restrictions or
any other regulations imposed by any government or public authority or any other reason
which are beyond the control of the assured resulting delay in repair within the stipulated
time frame.

75. New Business Clause:

For the purpose of any claim arising from damage occurring before the completion of the
first year’s trading of the business at the premises the terms “Rate of Gross Profit”,
“Annual Output/Turnover” and “Standard Output/Turnover” shall bear the following
meaning and not as within stated:

RATE OF GROSS PROFIT – The rate of To which such adjustments shall be made
Gross Profit earned on the as may be necessary to provide for the
Output/Turnover during the period trend of the business and for variations in
between the date of the commencement of or special circumstances affecting the
the business and the date of the damage. business either before or after the damage
or which would have affected the business
ANNUAL OUTPUT/TURNOVER – The had the damage not occurred so that the
proportional equivalent for a period of figures thus adjusted shall represent as
twelve months or the Output/Turnover nearly as may be reasonably practicable,
realized during the period between the the results which, but for the damage,
commencement of the business and the would have been obtained during the
date of the damage. relative period after the damage.

STANDARD OUTPUT/TURNOVER – The

proportional equivalent for a period equal to
the Indemnity Period of the
Output/Turnover realized during the period
between the commencement of the business
and the date of the damage.

76. Delayed Indemnity Period Clause

In the event of interruption to the business insured arising out loss or damage hereunder
which commences and/or recommences at a date later than the actual date of the loss or
damage to the Property Insured hereunder and which gives rise to such business
interruption, Insurers shall agree to extend the period during which indemnity is provided
by this Section of the Policy.

Provided always that Insurers shall not be liable for more than the Sum Insured as stated
in the Schedule nor the Indemnity Period as stated in the attached Schedule.
Under no circumstances shall insurers be liable for any loss under this Section of the
Policy.

1. if such interruption to the business insured commences later than 12 months after
the date of the Loss or Damage to the property insured hereunder and
2. which shall occur after the conclusion of the period commencing on the date of Loss
or Damage and ending not later than the date of conclusion of the Maximum Indemnity
Period plus Waiting Period and 12 months thereafter.
77. Accumulated Stock Clause

In adjusting any loss, account shall be taken and an equitable allowance made if any
shortage in turnover due to the damage is postponed by reason of the Turnover being
temporarily maintained from accumulated stocks of finished goods in the Insured’s
warehouses.

78. Auditor’s/Solicitor’s and Professional Fee:

The Insurance under this head is limited to the reasonable charges payable by the Insured
to their Auditors for Producing and certifying any particulars or details contained in the
Insured’s books of account or other business books or documents or such other proofs,
information or evidence as may be required by the Company under the terms of this Policy.
Any particulars or details contained in the Insured’s books of account or other business
books or documents which may be required by the Company under this Policy for the
purpose of investigating or verifying any claim here under may be produced and certified
by the Insured’s Auditors, and their certificate shall be prima facie evidence of the
particulars and details to which such certificate relate.

79. Additional Increased in Cost of Working

The insurance by this Policy extends to include such additional expenditure (not
recoverable under any other item/s to the Schedule of the Policy or any other insurance or
in terms of any contractual agreement) incurred with the consent of the Company during
the indemnity period in consequence of loss as insured for the purpose of maintaining as
far as possible the normal operation of the business.

Such additional expenditure would include but not be limited to the cost of moving to and
from, the rates, taxes and expenses incurred in, equipping premises to make them
suitable for the Insured’s business, cost in respect of additional employees, overtime and
allowances to staff.

The sum insured in terms of the provisions of this clause shall be independently
determined as a separate item to the Schedule of the Policy and shall not be subject to the
condition of Average in the event of a claim to which this clause is applicable.

80. & Customers Premises Extension:

81.

The BI section is extended to cover the insured's loss of Gross Profit resulting from
damage due to:

a. Fire, Lightning, Explosion and Aircraft Damage (FLEXA) and Act Of God (AOG) perils for
direct & named Indian customers: Limit INR 50,000,000 each and every loss

b. FLEXA perils for direct & named foreign customers/ unnamed onshore Indian
customers: Limit: Limit INR 50,000,000 each and every loss

There is no cover for unnamed foreign customers of any kind.

Definition of “direct” as below:

“Direct” shall mean any company having a direct contractual relationship with the
insured(s) which materializes and manifests itself by / in the direct and actual physical
supply, transfer or exchange of goods and/or utilities to the insured(s), without any
involvement or value added by any third party supplier or customer resulting in the
alteration, transformation or modification of the physical or chemical properties of the
supply, goods or utilities before it is finally supplied, transferred or exchanged with the
insured(s).

For the purposes of the meaning of Direct, this limitation does not apply to any third party
logistic companies or transportation companies who supply or transfer such goods or
utilities to the insured (s) and whose role is solely limited to only transport or logistical
services.

“Act Of God (AOG)”, this shall mean the following type of event:

a. Earthquake – Fire & Shock

b. Landslide / Rockslide / Subsidence
c. Flood / Inundation d. Storm / Tempest / Hurricane / Typhoon / Cyclone / Lightning or
other atmospheric disturbance

82. Suppliers & Fabricators Premises Extension:

83.

This section is extended to cover the insured's loss of Gross Profit resulting from damage
due to:

a. Fire, Lightning, Explosion and Aircraft Damage (FLEXA) and Act Of God (AOG) perils for
direct & named Indian suppliers & fabricators: Limit INR 50,000,000 each and every loss

b. FLEXA perils for direct & named foreign suppliers & fabricators/unnamed Indian
suppliers & fabricators: Limit: Limit INR 50,000,000 each and every loss

There is no cover for unnamed foreign suppliers &fabricators of any kind.

Definition of “direct” as below:

“Direct” shall mean any company having a direct contractual relationship with the
insured(s) which materializes and manifests itself by / in the direct and actual physical
supply, transfer or exchange of goods and/or utilities to the insured(s), without any
involvement or value added by any third party supplier or customer resulting in the
alteration, transformation or modification of the physical or chemical properties of the
supply, goods or utilities before it is finally supplied, transferred or exchanged with the
insured(s).

For the purposes of the meaning of Direct, this limitation does not apply to any third party
logistic companies or transportation companies who supply or transfer such goods or
utilities to the insured (s) and whose role is solely limited to only transport or logistical
services.

“Act Of God (AOG)”, this shall mean the following type of event:
a. Earthquake – Fire & Shock
b. Landslide / Rockslide / Subsidence
c. Flood / Inundation d. Storm / Tempest / Hurricane / Typhoon / Cyclone / Lightning or
other atmospheric disturbances
84. Public Non owned Utility Suppliers:

The Indemnity under this section extends to loss from interruption of or interference with
the Business in consequence of damage to land based property engaged in the generation,
production, supply, treatment, transmission, distribution and/or reticulation of power,
gas, water, sewage or land based telecommunications from which the Insured obtain
supplies or services and which are not owned or operated by the Insured. Such loss shall
be deemed to be loss resulting from damage to property used by the Insured at the
Situation.

85. Port Blockage:

Loss resulting from interruption of or interference with the Business in consequence of

blockage of the port or harbour which causes disruption to shipping and is caused by
stranding, grounding, sinking or capsize and/or through collision or contact of any vessel
or craft with any other vessel, craft, structure or other object of any kind shall be deemed
to be loss resulting from damage to property used by the Insured at the Situation.

86. Premium Adjustment Clause:

At the expiry of this policy the Insured shall declare the Actual Gross profit Earned during
the policy period suitably adjusted to reflect the period of indemnity and in the event of
this being less than the sum insured thereon a return of premium not exceeding 50% of
the premium paid for the Policy period will be made in respect of the differences. If the
Annual Gross Profit is more than the sum insured mentioned in the Policy, no additional
premium would be payable

If any damage shall have occurred, giving rise to a BI claim under this policy such
premium adjustment shall be made in respect only of so much of the said difference as is
not due to such damage.

87. Prevention of Access:

Coverage under this Section shall extend to include loss or reduction resulting from
cessation, interruption, interference or inhabitation to the Business as consequence of
physical destruction of or damage to property belonging to the Insured or property within
a radius of 5 kms from the insured premises (inland only) which prevents or hinders the
use of or access to the premises (excluding port blockage);

The total liability under this Section is limited to maximum of 30 days over and above the
Policy Business Interruption Deductible.

For the purpose of this clause the term “damage” shall include temporary impairment of
use of property.

Limit of liability – Liability limited to 30 days in excess of Policy Time Excess and for losses
within the radius of 5 Kms from the plant location and for ‘On Land’ events (Port Blockage
is not covered
88. Non-invalidation:

Notwithstanding anything to the contrary in this policy or in any of its conditions, it is

hereby agreed and declared that this policy is extended to cover any inadvertent error
and/or omission in the name of the insured and/or in the title or description of location or
value of the property insured hereunder or in the information upon which this insurance
or its renewal is based.
This inadvertent error or omission shall not void or impair this insurance provided the
insured shall advise the Company immediately upon discovery of any such discrepancy
and pay any additional premium reasonably required by the Company in consequence of
the revised information/ relevant documents provided by insured.

89. Boiler and Pressure Plant Explosion & Implosion including consequent Business
Interruption : Stands covered

90. Electronic Equipment All Risks including Breakdown and consequent

Business Interruption : Stands covered

91. Transmission and distribution lines outside insured plant premises, belonging to
the Insured :

This insurance covers Transmission/ interconnection lines, running between a power

plant and the point of connection to the host energy distribution company, up to a
maximum loss limit of INR 1,000,000,000 (100% basis and PD / BI combined). It is
understood that the policy loss limit of INR 1,000,000,000 is any one accident and
aggregate during the policy period.

92. Burglary & Theft including Sabotage : is covered under this Policy.

93. Agreed bank Clause:

It is here by declared and agreed:-

a. That upon any monies becoming payable under this policy the same shall be paid by
the Company to the Lender/Bank/Financial Institution and such part of any monies so
paid as may relate to the interests of other parties insured hereunder shall be received by
the Lender/Bank/Financial Institution as Agents for such other parties.

b. That the receipts of the Lender/Bank/Financial Institution shall be complete

discharge of the Company therefore and shall be binding on all the parties insured
hereunder.

That if and whenever any notice shall be required to be given or the communication shall
be required to be made by the Company to the insured or any of them in any manner
arising under or in connection with this policy such notice or other communication shall be
deemed to have been sufficiently given or made if give no made to the Lender /Bank /
Financial Institution.

c. That any adjustment, settlement, compromise or reference to arbitration in

connection with any dispute between the Company and the insured or any of them arising
under or in connection with this policy if made by the Lender/Bank/Financial Institutions
hall be valid and binding on all parties insured here under but not so as to impair rights of
the Lender/Bank/Financial Institution to recover the full amount of any claim it may have
on other parties insured hereunder.

d. That this insurance so far only as it relates to the interest of the

Lender/Bank/Financial Institution therein shall not cease to attach to any of the insured
property by reason of operation of condition 3 of the Policy except where a breach of the
condition has been committed by the Lender/Bank/Financial Institution or its duly
authorized agents or servants and any other party insured hereunder whereby the risk is
increased or by anything being done to upon or any building hereby insured or any
building in which the goods insured under the policy are stored without the knowledge of
the Lender/Bank/ Financial Institution provided always that the Lender/Bank/ Financial
Institution shall notify the Company of any change of ownership or alterations or increase
of hazard not permitted by this insurance as soon as the same shall come to its knowledge
and shall on demand pay to the Company necessary additional premium from the time
when such increase of risks first took place and It is further agreed that whenever the
Company shall pay the Lender/Bank/Financial Institution any sum in respect of loss or
damage under this policy and shall claim that as to the Mortgagor or owner no liability
therefore existed, the company shall become legally subrogated to all the rights of the
Lender/Bank/ Financial Institution to the extent of such payments but not so as to impair
the right of the Lender/Bank/ Financial Institution to recover the full amount of any claim
it may have on such Mortgagor or Owner or any other party or parties insured here under
or from any securities or funds available.

94. 72 Hours Clause:

It is agreed that any loss of or damage to the Insured Property arising during any one
period of seventy two (72) consecutive hours, caused by windstorm, storm, tempest, flood
or earthquake shall be deemed as a single event and therefore to constitute one occurrence
with regard to the Excesses provided for herein. For the purpose of the foregoing the
commencement of any such seventy two (72) hours period shall be decided at the
discretion of the Insured it being understood and agreed, however, that there shall be no
overlapping in any two or more such seventy two (72) hours periods in the event of damage
occurring over a more extended period of time.

95. Nominated Adjuster Clause:

Insurers agree that, in the event of an occurrence that is likely to give rise to a claim under
this Policy, the Insured can appoint one of the following firms of Adjusters/Surveyors to act
on behalf of Insurers to conduct all loss or damage surveyor adjustments:

1. Dr. S.N. Mitra of SNM Consultants, Kolkata.

2. Reviere Insurance Surveyors and Loss Assessors Pvt. Ltd., 13/2, Jagat Roy
Chowdhury Road, Kolkata-700008.

3. Mack Insurance Surveyors & Loss Assessors Pvt. Ltd., 14(A), D Block Basement,
Factory Road, New Delhi-110029.

4. Inder Chadha & Associates, Subid Ali Building, 2 nd Floor, 1 Madan Street, Kolkata-
700072.
5. Asstha Insuvision Insurance Surveyor and Loss Assessors Pvt. Ltd. Kolkata.
 6. Proclaim Insurance Surveyors and Loss Assessors Private Limited, D-21, Corporate
Park, Second Floor, Sector-21, Dwarka, New Delhi.

7. Puri Crawford Insurance Surveyors & Loss Assessors India Pvt. Ltd., 231, 3rd
Floor, Building No.2, Solitaire Corporate Park, Andheri-Ghatkopar Link Road,
Andheri - Kurla Rd, Chakala, Mumbai, 400093.

8. Advanta Global Services (International Loss Adjusters) Professional Insurance

Surveyors & Loss Assessors Pvt. Ltd. 25, Sukanta Park, Prafulla Kanan, Kolkata-
700101.

9. Kalyan Bhattacharya, Surveyor and Loss Assessor 5/1/2E, Baishnabghata Road,

Kolkata-700047, Mobile No. 9836566647.

96. Pro rata Cancellation Clause:

This policy of insurance may be terminated at the request of the insured at any time
subject to the insurer being given 30 days’ notice to that effect, and the insurer shall be
liable to repay on demand a rateable proportion of the premium for the unexpired period
from the date of termination.

The above shall be subject to GIC/Lead Reinsurer approval and insurance to be placed
with same set of insurers in similar arrangement

97. Non-vitiation Clause :

It is noted and agreed that if the insured described in the schedule comprises more than
one insured party each operating as a separate and distinct entity then (save as provided in
this multiple insured’s clause)cover hereunder shall apply in the same manner and to the
same extent as if the individual policies had been issued to each such insured party
provided that the total liability of the insurers to all of the insured parties collectively shall
not exceed the sums insured and limits of indemnity including and inner set by
memorandum or endorsement stated in the policy.

It is understood and agreed that any payment or payments by Insurers to any one or more
such insured parties shall reduce to the extent of that payment insurers liability to all such
parties arising from any one event giving rise to a claim under this policy and (if applicable)
in the aggregate.

It is further understood that the insured parties will at all times preserve the various
contractual rights and agreements entered into by the insured parties and the contractual
remedies of such parties in the event of loss or damage.

It is further understood and agreed that insurers shall be entitled to avoid liability to or (as
may be appropriate) claim damages from any of the insured parties in circumstances of
fraud, material misrepresentation, material non-disclosure or breach of any warranty or
condition of this policy each referred to in this clause as vitiating act.

It is however agreed that (save as provided in this multiple insured’s clause) a vitiating act
committed by one insured party shall not prejudice the right to indemnity to any other
insured party who has an insurable interest and who has not committed a vitiating act.
Insurers hereby agree to waive all rights of subrogation which they may have or acquire
against any insured party except where the rights of subrogation or recourse are acquired

in consequence of or otherwise following a vitiating act in which circumstances insurers

may enforce such rights notwithstanding the continuing or former status of the vitiation
party as insured.

The lenders to the project shall not be entitled to any indemnity under this policy for or
arising from loss or damage in respect of which insurers are by reason of vitiating act no
longer liable to indemnity any one or more than insured party.

98. Waiver of recourse:

It is understood and agreed that this Insurance shall not be invalidated should the
Insured waive, with Insurers’ agreement, prior to loss or damage affected thereby, any or
all rights and recovery against any Party for loss or damage to the property described
herein, provided however, that the Insurers’ rights of recourse against any manufacturers
and suppliers of equipments be maintained in force.

It is specifically agreed to automatically waive rights of recourse against contractors of the

Assured (and/or their sub-contractors), suppliers of the Assured etc. during the Policy
Period but only in respect of the normal operations/maintenance activities of the Assured.
Normal operations/maintenance shall be deemed to include work during normal
shutdowns and the bringing up from normal shutdowns.

99. Expiration:

If this policy expires or be cancelled while an insured event is in progress, it is understood

that and agreed that insurers, subject to all other terms and conditions of the policy, are
responsible as if the entire loss had occurred prior to the expiration of this insurance.

100. Innocent Non-Disclosure:

Cover to apply following pre-inception/mid-term innocent non-disclosure (i.e. without

intent to mislead/misrepresent the risk) - including no prejudice to cover for any Insured
where there is any non-disclosure by another Insured that is not innocent and which may
otherwise affect cover under the policy.

101. Waiver of subrogation:

The Company agrees to waive its rights by subrogation against any subsidiary or
associated organisation owned or controlled by the Insured and any organisation which
owns or controls the Insured, and such organisations as specified in this Policy before
material loss. For the purpose of this provision, organisation shall include any of its
partners, officers or employees acting on behalf of the organization.
102. Payments on account:

If so requested by the insured, the Insurers will make advance payments on account of
any loss as agreed upon between the Insured, the Insurer and the Loss Adjusters it being
understood and agreed that should the advance payments made on account of any loss
exceed the actual loss as determined under the provisions of this policy, the named
insured shall refund such excess of the advance payment to the Insurer.

103. No Control:
This insurance shall not be affected by the Insured's failure to comply with any Policy
warranty or condition anywhere at the Location not under the Insured's control.

104. Bankruptcy:

In the event of bankruptcy or insolvency of The Insured or any entity comprising The
Insured, The Insurer shall not be relieved thereby of the payment of any claims hereunder
because of such bankruptcy or insolvency.

105. Primary & Non Contributory:

It is expressly agreed that this policy provides primary Insurance Cover and shall not be
contributory to any other policy that may exist whether the other policy also covers the
interest of the Insured or not. Subject otherwise to the terms & conditions of the policy.

106. Unoccupancy Clause:

The insurance by this Policy will not be prejudiced in the event of any Building remaining
unoccupied for a period greater than 60 days, notwithstanding anything contained in the
Conditions of this Policy, provided that in due course the Insured or their agents give
notice in writing to the Company.

107. Free Automatic Reinstatement:

It is agreed that no reinstatement premium shall be charged for net claim upto Rs.
50,000,000.

108. PR Crisis management:

Public relations costs reasonably incurred to maintain the Insured's standing following a
loss.

109. Claims Preparation Costs:

Subject to the sub-limit of liability as stated in the Schedule for Professional Fees and
Claims Preparation Costs, the insurance under this item is to cover such reasonable
professional fees as may be payable by the Insured to their financial advisors (including
but not limited to fees for accountants, loss adjusters, and valuers appointed by the
Insured), and such other reasonable expenses necessarily incurred by the Insured and not
otherwise recoverable, for preparation, proving and/or verification of claims made by the
Insured under Sections I and II of this Policy and Insurers shall further indemnify the
Insured for the costs of arbitration if incurred and such reasonable fees and expenses,
salaries, wages and overheads of the Insured's employees, which shall be deemed to be
part of such other reasonable expenses.

110. Waiver of Underinsurance:

a) If the property hereby insured shall at the time of reinstatement/ replacement/
repair following a loss or damage indemnifiable under the Policy be of greater value
than the

Sum Insured under the Policy, then the Insured shall be considered as being his
own insurer for the difference and shall bear a rateable proportion of loss.

Each item of the Policy to which this condition applies shall be separately subject
to the foregoing provision. Provided however that if the said Sum Insured in
respect of such item(s) of the Schedule shall not be less than 85% (Eighty Five
Percent) of the value of the item(s) thereat, this condition shall be of no purpose
and effect.

b) It is agreed that this Waiver of Underinsurance will also be applicable to Spares

and Stocks covered under the Policy.

111. Coinsurance Clause:

It is hereby declared and agreed that claim payments under this policy are to be made
100% by the lead insurance company, and co-insurance recovery to be the lead insurer’s
responsibility only. No claim shall be delayed on account of co-insurance recovery process.

112. Protection and Prevention of Property :

It is hereby understood and agreed, subject otherwise to the terms, conditions and
exclusions of the Policy and endorsed hereon, that in case of actual or imminent physical
loss or damage of the type insured against by the Policy, this Policy is extended to cover
the expenses incurred by the Insured in taking reasonable and necessary actions for the
temporary protection and preservation of property insured hereunder which expenses shall
be added to the physical loss or damage otherwise recoverable, if any, under the Policy.

113. Waiver of Contribution :

Notwithstanding the general conditions of the policy, the insurers hereby agree that the
insurance of this policy will be primary without the right of contribution to any other
insurance carried by or on behalf of the named Insureds with respect to their respective
interests in the insured property.

114. Damage to Underground Service :

it is hereby agreed and declared that notwithstanding anything to the contrary in this
policy or in any of its conditions that the policy includes damage to any insured’s
underground water, drainage, sewerage, gas, electricity or telephone pipe or cable etc………
for which the Insured is responsible extending from the Premises to the main provided the
sum insured declared under the Policy is inclusive of the above.

115. Warranty Clause :

It is agreed that whenever O&M contractors and/or OEM’s are responsible for damages
covered under their contractual obligation if any and if the repairs & reinstatement are
carried out by the O&M contractors and/or OEM’s Business Interruption Claim for loss of
revenue will be lodged and claim will be payable under the BI Section.

116. Green Clause :

Where following physical loss or damage insured by this policy, the insured elects to
rebuild in a manner that aims to minimize potential harm to the environment utilizing the
latest technology, in this regard, it will not be considered betterment to the Insured. Where
the cost of rebuilding is increased as a result, the insurers will pay such additional cost.

117. Mobile Plant and Equipment Cover :

Provided only for unregistered vehicles (list to be provided); Cover limited to insured only.
LIMIT – INR 5 Crs E.E.L.

118. Rolling Stock and Railroad Infrastructure outside Insured Premises

It is hereby understood and agreed that this Policy extends to indemnify for loss or damage
to Rolling stock (rail locomotives, wagons, carriages and the like) and Railroad
Infrastructure (including railway tracks, signaling and communication systems/
installations and associated equipment) of the Insured located outside the insured
premises by a Perils not excluded by this Policy
Limit of Indemnity: As specified in the Schedule

119. Layoff and Retrenchment (following Business Interruption)

This Policy extends to indemnify the Insured for amounts (including contributions
required by law to be made by the Insured to any ‘worker reskilling fund’) paid as
compensation to workers who are laid-off and/or retrenched under the prevailing
provisions of the Industrial Relations Code 2020, following an indemnifiable loss or
damage to Property Insured and / or during the Indemnity Period of resultant Business
Interruption. Provided always that there shall be no indemnification for fines and/or
penalties imposed on the Insured in respect of any ‘industrial dispute’ ‘award’. The
terms ‘industrial dispute’ and ‘award’ shall bear meaning as defined in the Industrial
Relations Code 2020 as prevailing.

Limit of Indemnity : The amount stated in the Schedule.

120. Broad Water Damage

In consideration of payment of additional premium, it is hereby declared and agreed

that notwithstanding what is stated in the Policy or any endorsements to the contrary,
the insurance under this Policy shall extend to include loss or damage caused by :
1. Accidental discharge, leakage or overflow of water or steam from plumbing, septic
tanks and cylinders, stand pipes for fire hose, industrial and domestic appliances,
refrigerating system, air-conditioning system and rain (or snow) admitted through
defective roof, headers spouting or by open or defective windows, show windows,
picture windows, doors, transoms, ventilators or skylights;
2. Breakage of/or leakage from street water supply, mains or fire hydrants.
PROVIDED THAT:
a) The insured undertakes to exercise all ordinary and reasonable precautions for
the maintenance and safety of the property;
b) All conditions of this Policy shall apply (except insofar as they may be hereby
expressly varied) and that any reference therein to loss or damage by fire shall
be deemed to apply to loss or damage as aforesaid. The liability of the Company
under this endorsement shall in no case exceed the Sum Insured on each item
of the Policy or the Limit as stated in the Policy schedule.

121. Replacement from Spares

It is hereby agreed that in the event of a loss involving spare materials or items
taken from stores which were originally purchased earlier or received as OEM
Spares and kept as inventory, the insured is required to replace these materials
without replenishing the same immediately, the insurer will reimburse the cost as
per prevailing new replacement cost based on quotation or market enquiry.

122. Rent for Alternative Equipment

It is hereby declared that in the event of any of the plant and machinery (hereinafter
referred to as equipment) described in the policy and located at the insured
premises is destroyed or damaged by any Insured Peril as to become unfit for use
and the insured in consequence takes up alternative equipment on rent to restore
operations, the Company shall indemnify the insured against the rental charges
which the insured is called upon to bear for the period beginning from the date of
operation of any of the insured perils until the damaged equipment is reinstated
after repairs or by replacement and is rendered fit for performing its functions for
operations in the manner as it was before it was damaged or destroyed up to such
period not exceeding reasonable time as is required to restore the equipment with
due diligence to a condition fit for performance of its original functions provided
that the liability of the Company shall not exceed the limit of indemnity under this
provision as stated in the schedule hereby.

123. Calorific Value of Coal

It is hereby declared and agreed this insurance shall cover loss of calorific value of
coal consequent upon getting affected by any peril covered under the policy
including but not limited to application of water following fire extinguishing activity,
subject to all terms, conditions and warranties.
124. Highest Single Deductible

Any claim or series of claims under this policy arising out of the same event
involving Material damage and Business Interruption with applicable Add-on
covers/extensions the deductible or time excess shall apply as follows:

a. For Section – 1 of the Policy, the highest single deductible will be applied.
b. For Section –II (FLOP and MLOP), where property damage also triggers
Business Interruption either FLOP/MLOP or both then the highest single
deductible applicable to business interruption shall apply.

125. Overhaul/Maintenance/Shut Down : :

Notwithstanding anything contained herein to the contrary it is hereby declared and

agreed that in case there is physical damage to the property covered under the Policy by
an insured peril and there is resultant business interruption, any scheduled overhaul,
maintenance or shut down of the undamaged property in the insured’s premises
connected with affected business process shall be allowed by the Insurer provided that
they are carried out following the SOPs within the reasonable time of their completion and
no deduction shall be made to derive the actual interruption period for the said scheduled
overhaul, maintenance or shut down, or the additional time taken for such overhaul,
maintenance or shut down should not be deemed to be aggravation of loss for the purpose
of determining the actual period of interruption. However, If overhaul & maintenance
adversely affect the process of repair/reinstatement of damaged property, in such case the
business interruption period shall be appropriately adjusted.
 BASE WORDINGS

SECTION IA- ALL RISKS PHYSICAL LOSS OR DAMAGE

Insuring Clause
In the consideration of the payment by the insured named in the Schedule herein of
the Premium mentioned therein, the Insurer agrees (subject to the Conditions,
provisions and Exclusions contained herein or endorsed or otherwise expressed
hereon, which shall all be deemed to be conditions precedent to the right of the
insured to recover hereunder) TO IDEMNIFY the Insured in respect of sudden
accidental loss, destruction or damage (Herein defined as ‘DAMAGE’) to all real and
Personal Property of every kind and description owned by the Original Insured or for
which the Original Insured is in any way legally responsible or may have assumed
responsibility to insure including but not limited to all assets of Sagardighi Thermal
Power Project and related assets attributable to any cause, except as hereinafter
provided, occurring during the currency of the policy. In no case shall the liability of
the insurer exceed the respective Sums Insured or sub limits expressed in the
schedule except as may be provided herein.
Excepted Clauses (Unless Specifically Covered in any Section under the Policy)
1. The deliberate and sustained operation of the Insured's Plant, Machinery or other
equipment in excess of the design specification on the specific and intentional
instruction of the insured except for the conditions permitted by the manufacturers or
by judgment of a competent engineer.
2. Withdrawal or go-slow of labor or cessation of work.
3. Failure of supply of water, gas, electricity, fuel or power from outside source but
should any resultant loss or damage occur to the insured property due to any peril
which is not otherwise excluded as per the terms and conditions of the policy, the
same would be indemnifiable.
4. Gradual subsidence and settlement, shrinkage or expansion or erosion of soil
unless sudden accidental loss or damage covered under this policy ensues and only
such ensuing loss will be covered under this policy.
5. IT IS ALSO UNDERSTOOD AND AGREED THAT subject to the PROVISO below, this
insurance does not cover;
(a) Wear and tear, gradual deterioration, rusting, corrosion, metal fatigue, oxidation,
auto-oxidation, damp, change in temperature or humidity, ordinary action of air or
light of natural heating or drying.
(b) Fermentation, evaporation, loss of weight, contamination or change in quality
(except where such is caused by an occurrence which is not otherwise excluded).

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(c) The cost of replacing, repairing or rectifying defective parts, materials,
workmanship, design or defect or omission in design or specification or latent defect,
Loss of data, data media and records, as well as its regeneration.
(d) Clean up costs other than as provided under Removal of Debris Clause.
(e) Seepage and/ or pollution and/or contamination, direct or indirect arising from any
cause whatsoever.
(f). infidelity of employees.
PROVISO: Clause 5 (a) to 5 (f) above shall not be deemed to exclude any further
destruction or damage which itself is not excluded by any of the terms, conditions and
Excepted Causes of this policy, occasioned as a consequence of any of the
Contingencies listed therein.
Excluded Property (Unless specifically covered in any section under this policy)
Unless otherwise mentioned in the schedule, this section does not cover loss or
destruction of or damage to any of the following:
a. Property in course of construction or erection or undergoing testing or
commissioning other than as provided elsewhere under this Section; however, this
Exclusion shall not apply in respect of normal maintenance and testing. It is also
understood that bringing up from shutdown shall not be construed as testing; This
does not apply where a machinery is reinstalled after repairs following a claim or after
overhauling.
b. Road vehicles except vehicles licensed for general road use, railway rolling stock,
waterborne vessels or craft; but this exclusion shall not apply to the Insured's fire
fighting vehicles within a radius of 20 kilometres of the insured premises, whilst going
to or returning from a mutual aid assignment and relaxation to 50 kms to two fire
tenders owned by the insured.
c. Land (including topsoil, back fill, runways, canals, dams, bridges, docks, or tunnels)
d. Goods or property in transit, other than:
i. Land transits of plant and / or machinery for the purpose of maintenance and
general running for operational use
ii. Property in transit as provided under the Temporary Removal Extension.
e. Underground property other than foundations, pipelines, cabling drains, tanks, and
contents thereof and related equipment.
f. Any Offshore property including property damage and Business Interruption
following thereof
g. Property belonging to third parties unless specifically declared as insured hereunder
or in the insured's care custody and control and for which they are responsible;

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h. Cash, bullion, coins, cheques, stamps, precious stones, jewellery, antiques,
securities, obligation of any kind, books of account or other business books or records,
computer records or data other than as described in add on cover under the schedule
of the policy, manuscripts, plans, drawings, patterns or models.
Deductibles
This policy does not cover the deductibles stated in the schedule in respect of each
and every loss as ascertained after the application of all other terms and conditions of
the policy including any condition of average.
Conditions applicable to Section IA
Basis of indemnification (All Property except catalyst, consumables and stocks)
In the event of destruction of or loss or damage to Property Insured hereunder
(excluding stock) by a contingency insured against, the amount payable under each of
the items of this section of the policy shall be calculated on the basis of the
reinstatement or replacement of the property lost, destroyed or damaged, subject to
the following provisions:
Reinstatement or Replacement shall mean:
(I) where property is lost or destroyed, the rebuilding of any buildings or the
replacement by similar property of any other property in either case in a condition
equal to but not better or more extensive than its condition when new;
(II) where property is damaged the repair of the damage and the restoration of the
damaged portion of the property to a condition substantially the same as but not
better or more extensive than its conditions when new.
(III) Where the damaged property is not replaced/ repaired/reinstated, the basis of
indemnity would be the actual cash value of the property so damaged at the time of
happening of its destruction.
Special Proviso
1. The work of replacement or reinstatement (which may be carried out upon the same
or another site and in any manner suitable to the requirements of the insured subject
to the liability of the insurer not being thereby increased) must be commenced within
24 months (subject to delay in repair clause) of the date of the destruction or damage
or such further period as the insurer shall in writing allow, otherwise no payment
beyond the amount which would have been payable under this section of the policy if
this clause had not been incorporated herein shall be made.
2. Where any property is damaged or destroyed in part only, the liability of the insurer
shall not exceed the sum representing the cost which the insurer could have been
called upon to pay for repair or reinstatement if such property had been wholly
destroyed.
3. No payment beyond the amount which would have been payable under this section
of the policy if this clause had not been incorporated therein shall be made if at the

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time of any destruction or damage such property shall be covered by any other
insurance effected by or on behalf of the insured which is not upon the identical basis
of reinstatement as stated in this section of the policy.
4. If at the time of the reinstatement, the sum representing 85 percent (85%) of the
cost which would have been incurred in the reinstatement if the whole property
covered by such item had been destroyed exceeds the sum insured thereon at the
commencement of any destruction or damage then the Insured shall be considered as
being his own Insurer for the difference between the sum insured and the sum
representing 100 percent. (100%) of the cost of reinstatement of the whole of the
property and shall bear a rateable proportion of the loss accordingly.
Automatic reinstatement of Sum Insured subject to adjustment of pro-rata additional
premium from the claim amount from the date of loss.
Basis of Indemnification (Catalyst & Consumables including Lining and
Refractory)
In the event of destruction of or loss of or damage to catalyst and/or consumables
Including lining and refractory while in the process, the basis of indemnification shall
be Actual cash value (ACV) at the time of loss .The ACV amount shall be calculated by
taking into account:
The Expired Life (EL) in working hours of the catalyst and/or consumables at the time
of occurrence and;
The Normal Life Expectancy (NLE) in hours of the catalyst and/or consumables
according to the technical service department assessment.;
And applying them in the relationship (1-EL/NLE) to the total replacement costs of the
catalyst and/or consumables to determine the actual cash value of the item
Basis of Indemnification (Stocks & Catalyst)
In the event of destruction of or loss of or damage to stocks insured hereunder by a
contingency insured against, the amount payable under each of the items of the policy
shall be on the basis of the value i.e. prevailing market price of such Stock/Property
immediately before the occurrence of the said contingency.

Limit of Liability
In no event shall The Insurer’s liability arising from any one accident or occurrence
exceed the total value of Property Insured herein as per The Schedule.
SECTION IB - ALL RISK MACHINERY INSURANCE
Insuring Clause
In consideration of the payment by the insured named in the Schedule hereto of the
premium mentioned therein, THE INSURER AGREES that subject to the terms,
exceptions, limits and conditions contained herein or endorsed hereon which shall all

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be deemed to be conditions precedent to the right of the insured to recover hereunder,
to indemnify the insured against :
SUDDEN AND ACCIDENTAL BREAKDOWN, COLLAPSE OR RUPTURE OF PROPERTY
INSURED INCLUDING PHYSICAL EXPLOSION/IMPLOSION OF INCLUDING BUT NOT
LIMITED TO, BOILERS AND/OR OTHER PRESSURE VESSELS ATTRIBUTABLE TO
ANY CAUSE, EXCEPT AS HEREINAFTER PROVIDED, OCCURRING DURING THE
CURRENCY OF THE POLICY.
In no case shall the liability of the insurer exceed the respective sums insured and sub
limits expressed in the schedule.
Provided that the due observance and fulfillment of the terms, conditions and
endorsements so far as they relate to anything to be done or complied with by the
insured shall be conditions precedent to liability of the insurer to make any payment
under this policy.
Breakdown shall mean sudden and accidental physical loss or damage necessitating
repair or replacement before operation can be resumed resulting from:
i. Defects in material, design, construction, erection or assembly or;
ii. Fortuitous working accidents such as vibration, maladjustment, loosening of parts,
centrifugal force, abnormal stresses, defective or accidental lack of lubrication, water
hammer or local overheating, sudden failure or faults in protection devices except in
the case of boilers or similar plants when followed by explosion or;
iii. Excessive voltage or current, failure of insulation, short circuits, open circuits or
arcing or the effects of static electricity or;
iv. Incompetence, negligent acts or lack of skill of employees or third parties or;
v. Falling, impact, collision or similar occurrences, obstruction or the entry of foreign
bodies or;
vi. Overpressure except when caused by occurrences excluded in exception (i) of this
section;
vii. Any other cause not hereinafter excluded.
This insurance applies whilst the Property insured is working or at rest or being
dismantled or moved for the purpose of cleaning, inspection, overhauling or being re-
erected in another position within the Situation shown in the Schedule.
Exceptions (Unless specifically covered in any section under this policy)
The Insurer shall not be liable for:
1. Loss or damage for which a manufacturer, supplier, contractor or repairer is
responsible either by law or ordinance or under any contract or agreement.
However, as long as there is a breakdown loss admissible under the scope of the
policy for which a supplier, contractor or repairer is responsible by contract, it is

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 deemed to have complied with the Material Damage Proviso of Business
Interruption section and thus BI claim will be admissible .
Further, start-up/shut down expenses (if incurred) are also stand covered,
provided these expenses are incurred due to an indemnifiable loss as per the terms
of the policy.
2. Any increase in the cost of replacement or repair due to enforcement of any
ordinance or law;
3. Wear and tear, rust, corrosion, erosion, cavitation, boiler scale, incrustation,
deterioration, settling, gradual cracking, gradually developing deformation or
distortion, gradual deterioration due to atmospheric conditions or due to other causes,
but this exclusion shall be limited to the items immediately affected and shall not
exclude liability for loss or damage to other parts of the property insured as a
consequence thereof;
4. Shrinkage, evaporation, loss of weight, consequences of exposure to light, change in
flavour, colour, texture or finish affecting raw material, goods in process or finished
goods unless such change in condition is a direct consequence of an occurrence of
loss or damage otherwise indemnifiable under this section;
5. Loss or damage attributable to extremes or changes of temperature or humidity or
to non-existing, non-functionable or inadequate heating, air-conditioning or cooling
equipment, condensation, excessive moisture, dampness, seepage, disease,
deterioration, decay, mildew, mould, fungus, wet or dry rot, insect larvae or vermin of
any kind, infestation unless resulting from a cause not otherwise excluded;
6. Any malfunction of hardware, software or embedded chips as well as any loss,
damage, destruction, distortion, erasure, corruption or alteration of electronic data
(including but not limited to computer virus, worms, Trojan Horses); but this shall not
exclude liability for loss of or damage to other parts of the property insured as a
consequence thereof;
7. Costs arising from false or unauthorized programming, punching, labeling or
inserting, inadvertent cancelling of information or discarding of data media and / or
from loss of information caused by magnetic fields;
8. Costs of maintenance, upgrade or improvement, normal upkeep;
9. Consequential loss or any costs to reduce it other than that falling under business
interruption section.
SECTION II – BUSINESS INTERRUPTION
Definitions
Turnover
The money paid or payable to the insured for goods sold and delivered and for services
rendered in the course of business

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Gross Profit
The amount of the turnover of the affected unit (adjusted by deducting opening stocks
and adding closing stocks) from which shall be deducted all working expenses of the
affected unit (s)/department (s), line (s).
Indemnity Period
The period beginning with the occurrence of the damage and ending not later than 12
months as mentioned in the schedule thereafter during which the results of the
business shall be affected in consequence of the damage.
Rate of Gross Profit
The rate of gross profit earned on the turnover during the financial year immediately
before the date of damage.
To which such adjustments shall be made as may be necessary to provide for the
trend of the business and for Variations in or special circumstances affecting the
business either before or after the damage or which would have affected the business
had the damage not occurred so that the figures thus adjusted shall represent as
nearly as may be practicable the results, which but for the damage would have been
obtained during the relative period after the damage.
Standard Turnover
The turnover during that period in the twelve months immediately before the date of
damage which corresponds with the indemnity period.
Annual Turnover
The turnover during the 12 months immediately before the date of damage
Insuring Clause
To indemnify the Insured in respect of Loss of Gross Profits due to an interruption of
the insured’s business carried out at the Insured’s premises located at and for the
sum Insured as specified against the said premises following loss or damage to any
property and / or assets insured and recoverable under Section IA &/ OR Section IB.
The coverage also includes Contingent Business Interruption cover
(Customer/Supplier).
The Insurers agree that if Property Insured under Sections AR and/or MB be lost,
destroyed or damaged by any of the contingencies insured there under (destruction or
damage so caused being hereinafter termed "Damage") at any time during the Period of
Insurance and the Business carried on by the Insured be in consequence thereof
interrupted or interfered with, the insurer will pay to the Insured the amount of Loss
of Gross Profit resulting from such interruption or interference in accordance with the
provisions of the policy.
Provided that the insurer shall not be liable for any loss under this Section of the
policy unless the insured’s property lost, destroyed or damaged as defined is insured

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against such Damage under Section AR and/or Section MB and the insurer shall have
paid for or admitted liability or be held liable in respect of such Damage and would
have paid for or admitted liability or be held liable therefore but for the application of
any deductible provision under Sections AR and/ or MB which excludes liability for
losses below a specified amount.
Provided that if the Sum Insured by this item be less than the sum produced by
applying the Rate of Gross profit to the Annual Turnover, the amount payable shall be
proportionately reduced.
Territorial Scope: India
SPECIFICATIONS
Gross Profit
The insurance under this Article is limited to loss of Gross Profit due to
(I) reduction in Turnover and
(II) Increase in Cost of Working and the amount payable as indemnity there under
shall be:
a. In respect of Reduction in Turnover: the sum produced by applying the rate of gross
profit of the affected unit to the amount by which the Turnover during the indemnity
period shall in consequence of the damage, fall short of the standard turnover of the
affected unit.
b. In respect of Increase in Cost of Working: the additional expenditure necessarily
incurred for the sole purpose of avoiding or diminishing the reduction in Turnover
which but for that expenditure would have taken place during the Indemnity Period in
consequence of the Damage, but not exceeding the sum produced by applying the rate
of gross profit to the amount of the reduction thereby avoided.
c. Less any sum saved during the indemnity period in respect of such of the charges
and expenses of the business payable out of gross profit as may cease or be reduced in
consequence of the damage.

Additional Memoranda for Business Interruption

As per insurance terminology the “gross profit should represent the net trading profit
plus insured standing charges (fixed charges)”, however for Power utility the meaning
of the same is as described below.
The Loss of Profit means:
1) Under the Electricity Act’2003, profitability of Electricity Generating Company is
reflected through Reasonable Return. Reasonable Return is determined based on the
paid-up equity capital invested by the utility for a particular project and on such paid-
up equity, specified percentage, at present it is 15.5%, is allowed as Reasonable
Return (RR).

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Such Reasonable Return for a particular year is determined by the Regulator
considering benchmark availability of generation capacity as declared by the utility.
For a new power plant present minimum attainment target is 85% of declared
capacity. In case, for any year, if the utility fails to achieve the target, the permissible
return on paid-up equity shall also reduce proportionately.
Accordingly, we have considered the average plant availability factor of last three
financial years to determine the Profit of the said plant
2) The Fixed Charges means element of capacity charge other than return on equity.
For Business Interruption Sum Insured, the above mentioned two components needs
to be considered by the insurer in case of any claim triggered in this section.
GENERAL EXCLUSIONS (APPLICABLE TO ALL SECTIONS)
Unless otherwise expressly agreed, this insurance does not cover any destruction or
damage occasioned by or through or in consequence of directly or indirectly, any of the
following :
1. War, invasion, act of foreign enemy, hostilities of war like operations (whether war
be declared or not), civil war
2. Mutiny, civil commotion assuming the proportions of or amounting to a popular
rising, military rising, insurrection, rebellion, revolution, military or usurped power.
3. Confiscation, requisition, sequestration, nationalization or similar act..
4. ionizing radiation or radioactive contamination from any nuclear fuel or nuclear
waste or from the combustion of nuclear fuel;
5. the radioactive, toxic, explosive or otherwise hazardous or contaminating properties
of any nuclear installation, reactor or other nuclear assembly or nuclear component
thereof;
6. any weapon of war employing atomic or nuclear fission and/or fusion or any other
similar reaction or radioactive force or matter;
7. Any act of terrorism.
(a) For the purpose of this clause an act of terrorism means an act, including but not
limited to the use of force or violence and / or the threat thereof, of any person or
group(s) of persons, whether acting alone or on behalf of or in connection with any
organization(s) or government(s), committed for political, religious, ideological, or
ethnic purposes or reasons including the intention to influence any government and /
or to put the public, or any Section of the public, in fear.
(b) This clause also excludes loss, damage, cost or expense of whatsoever nature
directly or indirectly caused by, resulting from or in connection with any action taken
in controlling, preventing, suppressing or in any way relating to (a) and / or (b) above.

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(c) If The Insurer alleges that by reason of this exclusion, any loss, damage, cost or
expense is not covered by this Policy the burden of proving the contrary shall be upon
the Insured.
9. Sanction Limitation and Exclusion Clause
No insurer shall be deemed to provide cover and no insurer shall be liable to pay any
claim or provide any benefit hereunder to the extent that the provisions of such cover,
payment of such claim or provision of such claim or provision of such benefit would
expose that insurer to any sanction, prohibition or restriction under United Nations
resolutions or the trade or economic sanctions, laws or regulations of the European
Union, United Kingdom or United States of America.
GENERAL CONDITIONS (APPLICABLE TO ALL SECTIONS)
Arbitration
If any dispute or difference shall arise as to the quantum to be paid under this policy
(liability being otherwise admitted) such difference shall independently of all other
questions be referred to the decision of sole Arbitrator to be appointed in writing by
the parties to or if they cannot agree upon a single Arbitrator within 30 days of any
party invoking Arbitration, the same shall be referred to a panel or three Arbitrators,
comprising of two Arbitrators, one to be appointed by each of the parties to the
dispute/difference and the third arbitrators (to be appointed by such two Arbitrators
and Arbitration shall be conducted under and in accordance with the provision of the
Arbitration and Conciliation Act 1996 including all subsequent amendments.
Governing law and jurisdiction
This tender/ policy shall be governed by and construed in accordance with
substantive and procedural law of India. The competent courts at Kolkata, West
Bengal India shall have exclusive jurisdiction in relation to this tender/policy.

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