7677197/2026/O/o CORP(WBPDCL)

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/E2232/26-27 DATED 08.05.2026

TENDER DOCUMENT FOR

MEGA ALL RISK PACKAGE INSURANCE POLICY AND

BURGLARY & HOUSEBREAKING INSURANCE POLICY

FOR
KOLAGHAT THERMAL POWER STATION (KTPS)
THROUGH
E- TENDERING

ON QCBS basis

FOR ONE YEAR PERIOD w.e.f. 01.07.2026 to 30.06.2027

Intermediary: To be advised in due course

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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
KOLAGHAT THERMAL POWER STATION (KTPS) 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 Kolaghat Thermal Power Station (KTPS), P.O.: Mecheda, Dist.:
Purba Medinipur, Pin: 721137 from the insurer of WBPDCL for a period of one year with effect
from 00:00:00 Hours of 01.07.2026.

1. Title of the NIT : Mega All Risk Package Insurance Policy and Burglary &
Housebreaking Insurance Policy for Kolaghat Thermal
Power Station (KTPS) through E-Tendering on QCBS basis.
2. NIT NO. & Date : WBPDCL/CORP/NIT/E2232/26-27 dated 08.05.2026
i) Publishing Date : 20.05.2026 within 17:00 hrs.
Document Download start : 20.05.2026 from 17:30 hrs.
ii)
date
iii) Queries submission end : 25.05.2026 up to 15:00 hrs.
date
iv) Pre-bid Meeting date : 29.05.2026 at 15:30 hrs.

v) Queries clarifications : 02.06.2026 within 17:00 hrs.

deadline
vi) Bid submission start date : 02.06.2026 from 17:30 hrs.
vii) Bid submission end date : 05.06.2026 till 17:30 hrs.
viii) Technical Bid opening : 08.06..2026 at 15:00 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-700 106,

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5. Address for The Sr. Manager (IMP, C&I), Corporate,

Communication The West Bengal Power Development Corporation Ltd.,
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

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Contents

Information to the Bidder......................................................................................................................................................................... 2

Introduction to Bidders ............................................................................................................................................................................ 6
 Introduction ........................................................................................................................................................................................ 6
Instruction to the Bidder .......................................................................................................................................................................... 7
 General Guidance for E-tendering .................................................................................................................................... 7
 Eligibility Criteria/Qualifying Requirement (QR) ...................................................................................................... 7
 Undertaking for Non-Cartelization....................................................................................................................................... 8
 Cost of Bidding ................................................................................................................................................................................. 8
 Clarification of the Bidding Document............................................................................................................................. 9
 Amendment of Bidding Documents ................................................................................................................................... 9
 Cover 1: Documents : Technical Bid ............................................................................................................................... 11
 Cover 2: Financial Bid ...............................................................................................................................................................12
 Conditional and Incomplete Tender................................................................................................................................. 13
 Information to Bidders................................................................................................................................................................ 14
 Opening & Evaluation of Bid ................................................................................................................................................ 15
 Technical bid evaluation methodology ............................................................................................................................ 15
 Financial Bid Evaluation Criteria ....................................................................................................................................... 18
 Evaluation Criteria for QCBS .................................................................................................................................................. 18
 Validity of Bid..................................................................................................................................................................................... 19
 WBPDCL’s Right to Accept Whole or Part of the Tender ..................................................................................... 19
 Payment of Brokerage ................................................................................................................................................................. 19
 Award of Contract.............................................................................................................................................................................20
 Rejection of Bid ................................................................................................................................................................................. 21
 Cancellation of Tenders ............................................................................................................................................................. 21
 Deviations ............................................................................................................................................................................................ 21
 Sum Insured Increase/Decrease and Midterm Cancellation of Policy .................................................... 21
 In case Midterm Change of Rating Methodology ....................................................................................................... 22
 Panel of Surveyor/Loss Adjuster ......................................................................................................................................... 22
General Conditions of Contract .......................................................................................................................................................... 23
 Scope of Insurance Policies .................................................................................................................................................... 23
 Controlling Officer ......................................................................................................................................................................... 31
 Time of Completion ....................................................................................................................................................................... 31
 Force Majeure ....................................................................................................................................................................................32
 Fraud and Corruption Practices ........................................................................................................................................ 33
 Jurisdiction ........................................................................................................................................................................................33
 Settlement of Disputes ...............................................................................................................................................................34
 Confidentiality .................................................................................................................................................................................. 34

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 Surviving Obligation .................................................................................................................................................................... 34

 Blacklisting ......................................................................................................................................................................................... 34
 General .................................................................................................................................................................................................. 35
Particulars ..........................................................................................................................................................................................................36
 List of Assets ..................................................................................................................................................................................... 36
 Claim Settlement Procedure ................................................................................................................................................. 39
 Premium Vs. Claim History................................................................................................................................................... 40
 Form F-1 Price Schedule.......................................................................................................................................................... 41
 Form F-2 Declaration on the Re-insurance Arrangement on Letterhead of the
Bidder .................................................................................................................................................................................................... 42
 Form F-2.1 Treaty Re-insurance Support Letter................................................................................................... 43
 Form F-2.2 Facultative Re-insurance Support Letter ....................................................................................... 44
 Form F-3 Self Declaration ...................................................................................................................................................... 45
 Form F-4 Indemnity Certificate ......................................................................................................................................... 46
 Form F-5 Memorandum of Understanding ................................................................................................................ 47
 Form F-6 Undertaking of Non-cartelization ............................................................................................................... 48
 Form F-7 Declaration (Settlement of Claim Ratio) ................................................................................................ 49
 Annexure-I Bidder Information Sheet ............................................................................................................................ 50
 Annexure-II Declaration ........................................................................................................................................................... 52

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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].
The capacity & details of KTPS are as mentioned below:
Capacity : Erstwhile Capacity of the plant was 210 MW x 6 = 1260 MW, presently only 4 x 210
MW = 840 MW Coal Based is working and rest 2x210 MW = 420 MW has been decommissioned
vide approval of the Competent Authority.
Overview: The Plant is situated at Mecheda, 55 Km.(Approx.) from Kolkata by South Eastern
Rail or By NH-6. The plant is within 1 k.m. distance from the nearest railway station Mecheda,
Purba Medinipur. KTPS is a Coal fired thermal power Plant, consisting of 4 Units of 210 MW
each.
Important Dates in the History of KTPS :

Unit Capacity Synchronization COD Status of Unit

(MW)
1 210 13.08.1990 09.09.1990 Decommissioned
2 210 16.12.1985 09.03.1986 Decommissioned
3 210 24.06.1984 12.10.1984 Active
4 210 29.12.1993 01.04.1995 Active
5 210 17.03.1991 14.05.1991 Active
6 210 16.01.1993 01.01.1994 Active
Current 840
Active
Capacity

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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 Criteria Documents Required

No
1 The bidder should be a registered Indian Copy of license/ Latest Money
Insurer in accordance with the Receipt for renewal of license to be
Insurance Act and approved by IRDAI submitted
(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.

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2 The bidder should not be banned /de- Self-declaration in original on

listed / blacklisted / debarred from Company’s Letter head in this
business by any PSU or Government regard to be provided as per Form
Department as on date on which this F-3 of Bid document.
NIB is issued.
3 The Gross Direct Premium (GDP) from Fire NL-04 upto 4th Quarter of FY-2025-
Line of Business of the bidder should not be 26 (in absence of required NL-4 upto
less than 400 Crores for the FY-2025-26. 4th Quarter of FY-2025-26, Insurer
may submit Auditor’s Certificate
mentioning the GDP of FY-2025-26).
4 The bidder should quote minimum for 40% Self-declaration as per the Form F-2,
leadership capacity of total Sum Insured (PD F-2.1 and F-2.2 of the Bid Document,
+ BI combined). as applicable.

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 of
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 Form F-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.
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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
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whether at its own initiative or in response to a clarification requested by prospective

Bidders, modify the Bidding document by issuing addenda/amendments.

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. 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 bidder 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 deviation 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
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be hosted on WBPDCL’s e-tendering portal : [Link]

A) Tender is to be submitted online through the website [Link] All the

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

a. 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

b. 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.

c. 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: TECHNICAL BID

6.1 Documents to be submitted to fulfill the eligibility criteria as per Clause 10.1.3 ( Technical
bid evaluation methodology)

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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 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.
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.

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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
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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 Kolaghat Thermal Power
Station (KTPS), ), P.O.: Mecheda, Dist.: Purba Medinipur , Pin: 721137 from IRDAI Registered
General Insurance Companies for renewal with effect from 00:00:00 Hours of 01.07.2026 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 Section III (Pages 25-31).

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 specification 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.

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 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 OF BID

 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 time frame, 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

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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
weightage.
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)
Combined Ratio upto 31st NL-20 upto 31st December, 2025.
1. December, 2025. 05
(As per IRDAI Public
Disclosure)
2. NL -26 upto 31st December, 2025.
The bidder’s Solvency Ratio
with approved forbearance, if 05
any, should be equal to 150%
or higher upto 31st December,
2025 (as per IRDAI Public
Disclosure).
Claim Settlement Ratio upto NL -37 upto 31st December, 2025 and a
31st December 2025 (as per separate declaration is to be submitted by the
3. IRDAI Public Disclosure) 10 bidder as per Form F-7.
Formula:~
[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]
The above ratio is to be
calculated based on data of
Fire LoB and for both as lead
insurer and coinsurer.

Claim and Service  New participating Insurers whose service

Efficiency (CSE) levels have not been previously tested by
4. 10 WBPDCL shall be awarded:

 5 marks if they have completed 10

years of operations in India and
achieved GWP of INR 5,000 Crores
and above as on 31st March 2026.
 4 marks if the above criteria are not
fully met.

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 Insurers associated with WBPDCL’s

Insurance Programme as Follower Insurers,
but whose service levels have not been
independently assessed, may be awarded 5
marks on average basis, subject to
satisfactory past record.
 Delay in issuance of policy
documents/endorsements shall attract
suitable penalties under CSE parameters.
 Non-compliance with the “Nominated
Adjuster Clause” regarding
appointment/deputation of Surveyor may
attract penalties and, in serious cases, may
render the bid liable for rejection.
 Delay in release of admissible on-
account payment beyond 45 days from the
date of initial survey, in prima facie
admissible claims not falling under policy
exclusions, shall be treated as deficiency in
claim servicing and attract suitable
penalties.
 Delay in final claim settlement beyond 30
days from submission of final documents
as per Surveyor’s LOR shall attract suitable
penalties. Delay exceeding 6 months from
submission of final documents and/or
Surveyor’s recommendation, without valid
justification, may render the bid liable for
rejection.
 Repeated or unreasonable seeking of
documents/information not directly related
to claim assessment or admissibility shall
be treated as deficiency in claim servicing.

 Additional consideration may be given for

value-added and support services rendered
during the policy period.

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.
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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&4 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 &
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 System (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 31st December, 2025 and 2. Combined Ratio of the Insurer (In case of
same solvency ratio) upto 31st December, 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
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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

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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.

i) 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, the H1 bidder will be given a share commensurate with
its bid price.

i) 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.
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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 Company 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

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

irrespective of any claim ratio.

Additional Premium due to Refund of Premium due to Sum

Sum Insured increase 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. PANEL OF SURVEYOR/LOSS ADJUSTER

i. Asstha Insuvision Insurance Surveyor and Loss Assessors Pvt. Ltd. Kolkata.
ii. Dr. S.N. Mitra of SNM Consultants, Kolkata
iii. Proclaim Insurance Surveyors and Loss Assessors Private Limited, D-21,
Corporate Park, Second Floor, Sector-21, Dwarka, New Delhi.
iv. AKG Insurance Surveyor & Loss Assessors Pvt. Ltd. (Formerly A.K. Govil &
Associates)
14A, C Block Basement, Factory Road, Near Safdarjung Hospital, Ring Road, New
Delhi-10029, India.
Branch Office : Shree Krishna Square, 3-I 3rd Floor, 2A Grant Lane, Bow Bazar,
Kolkata 700012.

22. APPOINTMENT OF SURVEYOR/LOSS ADJUSTERS

In the event of any loss of damage, the insurer shall appoint an IRDAI-Licensed Surveyor of
Loss Adjuster strictly from the pre-approved panel forming part of the tender.

WBPDCL shall nominate the Surveyor /Loss Assessor, and such nomination shall be final
and binding on the Insurer. The Insurer shall appoint the nominator Surveyor within a
maximum period of 72 hours from intimation of loss or receipt of nomination, whichever is
earlier.

No deviation from the above, shall be permitted under any circumstances, except with prior
written approval of WBPDCL.

Any appointment of Surveyor or Loss Assessor made without prior written concurrence of
WBPDCL shall be deemed invalid and non-binding for the purpose of claim assessment.

Delay in appointment beyond the stipulated timeline without written approval of WBPDCL
shall be construed as a breach of contract and may attract appropriate action as per tender
condition.

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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’, Plot 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 Inc., 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. Canara Bank, LCB II, Kolkata.

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Policy Period:

From 00:00 Hrs. Local Standard Time on 1 st July, 2026 till 23:59 Hrs. Local Standard Time on
30th June, 2027 (both days inclusive) at the location of the property insured

Occupancy: 4 X 210 MW Coal Based Thermal Power Plant – (Unit # 3 to 6)

Risk Location:

Kolaghat Thermal Power Station (KTPS), P.O.: Mecheda, Dist: Purba Medinipur, PIN-721137.

[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, rail road 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: Section I : Material Damage (All Risk including Machinery Breakdown)

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All real and personal property of Kolaghat Thermal Power Station (4X210 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, 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.

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 excess
of the policy Deductible/Excess.
‘The amounts/limits stated hereunder are on first loss basis and represents the maximum
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indemnity for any one Loss Occurrence and are not subject to any condition of average/under
insurance’.

Sl No Covered/Sub-limits/
Clauses/Add On Cover at actual
1 Earthquake (Fire & Shock) including Tsunami & Covered for Full Sum
Volcanic Eruption Insured
2 Storm Tempest Flood Inundation (STFI) Covered for Full Sum
Insured
3 Riots, Strikes, Malicious Damage Covered for Full Sum
Insured
4 5% of Total Sum Insured
Omission to insure addition & 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 Covered
Vehicles, Forklifts, Cranes, Stackers and the like and
articles dropped there from
12 Undamaged Foundation Covered
13 Transit Risks (within premises) Covered
14 Conveyor Belts and Chains Covered
15 Spontaneous Combustion Covered
16 Cover for lubricating oil, oil in transformers, machine Covered
foundations, operating media and 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 and Covered
Labour)
23 INR 70,00,00,000 each &
Appraisement Clause every loss
24 Smoke Soot Corrosive Gases, Heat Waves Damage Covered
Cover
25 Leakage & Contamination Covered
26 Contamination & co-mingling Covered
27 Spoilage Material Clause Covered
28 INR 5,00,00,000 each and
Architects, Surveyors & Consulting Engineers Fees every loss
29 INR 5,00,00,000 each and
Expense for Foreign Consultant/Expert Visit every loss
30 Removal of Debris (including external/foreign debris) INR 5,00,00,000 each and

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every loss
31 INR 5,00,00,000 each and
Dewatering Expenses every loss
32 INR 5,00,00,000 each and
Cost of clearing of drains every loss
33 INR 5,00,00,000 each and
Expediting Expenses Clause every loss
34 INR 25,00,00,000 each and
Immediate Repairs every loss
35 Restoration of Computer Systems, records, plans & INR 5,00,00,000 each and
documents every loss
36 INR 10,00,00,000 each and
every loss
Start-up Expenses
37 INR 10,00,00,000 each and
every loss
Shut down expenses
38 Minor Works INR 50,00,00,000 each and
every loss
Excess/deductible – As per
EAR/CAR Tariff
Occupancy Provision
39 Loss Minimization/Loss Prevention Expenses Covered
40 Inland Transit PBL/Single Carrying Limit
INR 25,00,00,000
41 OEM parts Covered upto the difference
of 25% between the OEM
quote and the lowest quote
42 Catalysts & Consumable Interests in Process Covered
43 INR 5,00,00,000 each and
Capital Additions every loss
44 INR 25,00,00,000 each and
Involuntary betterment every loss
45 Temporary Removal of Property other than stock Covered
46 Third Party Liability & Damage to Surrounding INR 5,00,00,000 each and
Property every loss
47 INR 5,00,00,000 each and
Inadvertent Omission every loss
48 Additional Custom Duty INR 5,00,00,000 each and
every loss
49 Deliberate damage INR 5,00,00,000 each and
every loss
50 Demolition & Increased Cost of Construction INR 5,00,00,000 each and
every loss
51 Decontamination and cost of clean up INR 5,00,00,000 each and
every loss
52 Location of Leak Search INR 5,00,00,000 each and
every loss
53 Unrepaired Damage INR 5,00,00,000 each and
every loss
54 Modification cost and expenses for incompatibility of INR 5,00,00,000 each and

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7677197/2026/O/o CORP(WBPDCL)

Equipment every loss

55 Employees Personal Property / Effects INR 5,00,00,000 each and
every loss
56 Accidental Discharge of Gas flooding system INR 5,00,00,000 each and
every loss
57 Trace & Access INR 5,00,00,000 each and
every loss
58 INR 5,00,00,000 each and
Outbuilding Clause every loss
59 INR 5,00,00,000 each and
Landscaping cost every loss
60 Fire Fighting/Foam consumption At actual
61 INR 5,00,00,000 each and
Temporary Removal of Stocks every loss
62 INR 5,00,00,000 each and
Sprinkler Upgrading Cost every loss
63 Offsite Premises Covered
64 Control of Damaged Property Covered
65 INR 5,00,00,000 each and
Destruction of Undamaged Property 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 INR 5,00,00,000 each and
every loss
79 Additional Increased Cost of Working INR 25,00,00,000 each and
every loss
80 Customers Premises Extension [Named Domestic INR 5,00,00,000 each and
Customers-Covered against FLEXA and AOG perils every loss
81 Unnamed Domestic Customers & Named Foreign INR 5,00,00,000 each and
Customers-Covered against FLEXA perils every loss
82 Suppliers Premises Extension [Named Domestic INR 5,00,00,000 each and
Suppliers –Covered against FLEXA and AOG perils] every loss
83 Suppliers Premises Extension [Unnamed Domestic
Suppliers & Named Foreign Suppliers-Covered INR 5,00,00,000 each and
against FLEXA perils] every loss
84 Public/Non owned utility suppliers INR 5,00,00,000 each and
every loss
85 Port blockage INR 5,00,00,000 each and
every loss
86 Premium Adjustment Clause (BI) Upto 50% of total BI
premium
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87 4 weeks over & above the

policy time excess and with
maximum radius of 5 kms
from insured premises and
Prevention of Access inland only
88 Non-invalidation Covered
89 Boiler and Pressure Plant Explosion & Implosion Covered
including consequential Business Interruption
90 Electronic Equipment All Risk including Breakdown Covered
and consequent Business Interruption
91 Transmission and distribution lines outside insured Upto maximum loss limit
plant premises, belonging to the Insured of INR 1,000,000,000
(PD+BI) for AOA and AOY
Basis
92 Burglary & 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 same set of
insurers in similar
Pro Rata Cancellation Clause 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 INR 5,00,00,000 each and
every loss
108 PR Crisis Management INR 5,00,00,000 each and
every loss
109 Claims Preparation Cost INR 5,00,00,000 each and
every loss
110 Waiver of Underinsurance Upto 15% of Total (MD)
Sum Insured (excluding
Stock)
111 Co-Insurance Clause Covered
112 Protection and Prevention of Property Covered
113 Waiver of Contribution Covered
114 Damage to Underground Services Covered
115 Warranty Clause Covered
116 Green Clause Covered
117 Mobile Plant and Equipment Cover INR 5,00,00,000 each and
every loss
118 Rolling Stock and Railroad Infrastructure outside INR 5,00,00,000 each and
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Insured Premises every loss

119 Layoff and Retrenchment (following Business INR 5,00,00,000 each and
Interruption) every loss
120 Broad Water Damage INR 5,00,00,000 each and
every loss
121 Replacement from Spares Covered
122 Rent for Alternative Equipment INR 5,00,00,000 each and
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
Kolaghat Thermal Power Station (KTPS) P.O.: Mecheda, Dist : Purba Medinipur, PIN -721137 is
being proposed for the first time with effect from 00:00:00 Hours of 01.07.2026 to 30.06.2027.

Insured Name:
‘The West Bengal Power Development Corporation Limited’ having Registered &
Corporate Office at ‘Bidyut Unnayan Bhaban’, Plot 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 Inc., 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. Canara Bank, LCB II, Kolkata.

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Policy Period:
From 00:00 Hrs. Local Standard Time on 1st July, 2026 till 23:59 Hrs. Local Standard Time on
30th June, 2027 (both days inclusive) at the location of the property insured
Occupancy: 4X210 MW Thermal Power Plant (Coal Based) – (Unit # 3 to 6)

Risk Location : Kolaghat Thermal Power Stations

[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, rail road 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 Kolaghat Thermal Power Station
(KTPS), P.O.: Mecheda., Dist-Purba Medinipur, PIN-721137.

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

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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 Clause last.

iii) During the pendency of the 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, 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

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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

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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

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7677197/2026/O/o CORP(WBPDCL)

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 Clauses Settlement of Disputes and Confidentiality shall survive the termination or
completion of this contract.

10. BLACKLISTING

Blacklisting of the vendor/bidder, in case 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

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7677197/2026/O/o CORP(WBPDCL)

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.

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7677197/2026/O/o CORP(WBPDCL)

SECTION- IV
PARTICULARS :

LIST OF ASSETS OF KOLAGHAT THERMAL POWER STATION

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)

Section -I Sum Insured :

Physical Loss/Property Damage

(Unit # 3 to 6) : Total 840 MW : INR 5269,35,38,799.00
(incl. Coal, Fuel Oil and Stores & Spares)

Machinery Breakdown : INR 4309,09,79,002.00

(Unit # 3 to 6 : Total 840 MW

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7677197/2026/O/o CORP(WBPDCL)

Note:-
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 : INR 784,43,57,000.00

MLOP : INR 784,43,57,000.00

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:

As per standard insurance terminology, “Gross Profit” generally represents the Net Trading Profit
plus Insured Standing Charges (Fixed Charges). However, in case of a Power Utility, the
interpretation of “Loss of Profit” differs owing to the regulatory framework governing electricity
generation companies under the Electricity Act, 2003, and may be defined as follows:

1. Under the provisions of the Electricity Act, 2003, the profitability of an electricity generating
company is reflected through the concept of Return of Equity (RoE). The RoE is determined
based on the paid-up equity capital including free reserves as applicable, invested by the
utility in a particular project. A specified rate of return on such paid-up equity is allowed as
Reasonable Return/Retun on Equity, presently at 15.5% (pre-tax) for assets commissioned
prior to 01.04.2024 and 14% (pre-tax) for assets commissioned on or after 01.04.2024.

Such Reasonable Return for a particular year is determined by the Regulator considering the
benchmark availability of generation capacity declared by the utility. For all Thermal Power
Plants of WBPDCL, except Kolaghat Thermal Power Station (KTPS) and Bandel Thermal Power
Station (BTPS) Stage-I, the normative Plant Availability Factor (PAF) is 85%. In case of KTPS,
the applicable PAF is 75%, whereas for BTPS Stage-I, the applicable PAF is 70%. In the event
the utility fails to achieve the stipulated target availability during any year, the permissible
Return on Equity is reduced proportionately in accordance with the applicable regulatory
provisions.

Accordingly, for determination of Profit under the Business Interruption section, the average
Plant Availability Factor (PAF) achieved during the last three financial years has been
considered.

2. “Fixed Charges” shall mean the components of Capacity Charges other than Return on
Equity (ROE).

Accordingly, for determination of the Business Interruption Sum Insured, the above two

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components, namely:

 Reasonable Return /Return of Equity, and

 Fixed Charges,

shall be considered by the insurer while assessing any admissible claim under the Business
Interruption section.

BI Sum Insured:~ INR 784,43,57,000.00

Burglary Sum Insured :

On Stock and Consumables related to Power Plant

Stored at Godown and Open Yards inside the Plant
Premises (excluding Coal & Fuel Oil) : INR 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 INR 1.25 Cr.

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

ons) is less than 1.25 Cr., but the
combined expenses exceed INR 25
Lac, the insurer will be liable to
indemnify the insured only to the
extent of the combined Add-on
expenses exceeding INR 25 Lac per
claim.

c) 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 the Gross Profit applied to the Standard Turnover/ output for 30 days of the unit(s)
line(s)/department(s).

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(i) 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 the Gross Profit applied to the Standard Turnover/ output for 45 days of the unit(s)
line(s)/department(s).

(ii) Indemnity Period : 12 Months

For Burglary Policy

Burglary, Theft & Robbery Clause : 2.5% of claim amount subject to a
minimum of INR 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
programme 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 thereafter.

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
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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:

PY MD SI LOP SI TSI
Premium Claims Policy Leader Policy
(A.I.) Period
2025-26 5269.35 734.85 6004.20 6.57 Cr. Nil Mega Bajaj 01.07.25
Cr. Cr. Cr. to
30.06.26
2024-25 4287.48 597.66 4885.14 2.70 Cr. Nil Mega Bajaj 01.07.24
Cr. Cr. Cr. to
30.06.25
2023-24 4376.52 481.71 4858.23 5.19 Cr. Nil Mega Bajaj 01.07.23
Cr. Cr. Cr. to
30.06.24
2022-23 5810.37 481.71 6292.08 7.05 Cr. Nil Mega Bajaj 01.07.22
Cr. Cr. Cr. to
30.06.23
2021-22 5742.83 517.33 6260.16 7.06 Cr. Nil Mega Bajaj 01.07.21
Cr. Cr. Cr. to
30.06.22

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FORM F-1
PRICE SCHEDULE

Bidder is to fill the Bill of Quantity (BoQ) as per the format given in the Portal.

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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.

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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 Nos. – 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/E2232/2026-27 dated 08.05.2026

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 Kolaghat Thermal Power Station 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: ………………………….……

N.B.::

1. Minimum Financial Rating should A-or higher (not applicable for GIC Re.)

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7677197/2026/O/o CORP(WBPDCL)

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 Nos. – 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/E2232/26-27 dated 08.05.2026

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. A.M. Best/S&P/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 Kolaghat Thermal Power Station to the extent
of ……………..% of the total Sum Insured (PD + BI) combined INR ………………… 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.

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FORM F-3

SELF DECLARATION

(ON THE LETTER HEAD OF THE BIDDER)

Ref: Tender No.: WBPDCL/CORP/NIT/E2232/2026-27 dated 08.05.2026

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 : ……………………..………….

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FORM F-4

INDEMNITY CERTIFICATE

(CERTIFICATE ON THE LETTER HEAD OF THE BIDDER)

TENDER NO.: WBPDCL/CORP/NIT/E2232/2026-27 dated 08.05.2026

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 01.07.2026 to 24:00:00 Hours of 30.06.2027.

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 :……………………………

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7677197/2026/O/o CORP(WBPDCL)

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/E2232/2026-27 dated 08.05.2026 in 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: ………………..

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7677197/2026/O/o CORP(WBPDCL)

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)

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FORM F-7

DECLARATION
(ON THE LETTERHEAD OF THE BIDDER)

Ref: Tender No. WBPDCL/NIT/E2232/2026-27 dated 08.05.2026

The bidder certifies that the Ratio in respect of Number of Claims settled upto 3rd Quarter of FY
2025-26 (31st December 2025) as per IRDAI Public Disclosure is …………………….

as calculated based on data of Fire Line of Business (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 : …………………………………

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7677197/2026/O/o CORP(WBPDCL)

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)

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Telephone No.
Person Designation Based at
/E-mail/Fax
a)
b)
c)
6.0 Power of Attorney/Letter of Authority (An
attested copy to be enclosed in case the tender/ Enclosed/Not enclosed
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

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7677197/2026/O/o CORP(WBPDCL)

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 are selected as one of the follower insurers 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.

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7677322/2026/O/o CORP(WBPDCL)

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.

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.

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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.

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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.

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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

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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

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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.

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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

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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

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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

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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

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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:

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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

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(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.

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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.

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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).

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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

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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.

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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:

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“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

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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

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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

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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. Asstha Insuvision Insurance Surveyor and Loss Assessors Pvt. Ltd. Kolkata.
2. Dr. S.N. Mitra of SNM Consultants, Kolkata.
3. Proclaim Insurance Surveyors and Loss Assessors Private Limited, D-21, Corporate
Park, Second Floor, Sector-21, Dwarka, New Delhi.
4. AKG Insurance Surveyor & Loss Assessors Pvt. Ltd. (Formerly A.K. Govil &
Associates)
14A, C Block Basement, Factory Road, Near Safdarjung Hospital, Ring Road, New
Delhi-10029, India.
Branch Office : Shree Krishna Square, 3-I 3rd Floor, 2A Grant Lane, Bow Bazar,
Kolkata 700012.

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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.

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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.

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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

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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.

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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;

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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.

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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.

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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 Kolaghat Thermal
Power Station 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) As per standard insurance terminology, “Gross Profit” generally represents the Net
Trading Profit plus Insured Standing Charges (Fixed Charges). However, in case of a
Power Utility, the interpretation of “Loss of Profit” differs owing to the regulatory
framework governing electricity generation companies under the Electricity Act, 2003,
and may be defined as follows:

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1. Under the provisions of the Electricity Act, 2003, the profitability of an

electricity generating company is reflected through the concept of Return of
Equity (RoE). The RoE is determined based on the paid-up equity capital
including free reserves as applicable, invested by the utility in a particular
project. A specified rate of return on such paid-up equity is allowed as
Reasonable Return/Retun on Equity, presently at 15.5% (pre-tax) for assets
commissioned prior to 01.04.2024 and 14% (pre-tax) for assets commissioned
on or after 01.04.2024.

Such Reasonable Return for a particular year is determined by the Regulator

considering the benchmark availability of generation capacity declared by the
utility. For all Thermal Power Plants of WBPDCL, except Kolaghat Thermal
Power Station (KTPS) and Bandel Thermal Power Station (BTPS) Stage-I, the
normative Plant Availability Factor (PAF) is 85%. In case of KTPS, the applicable
PAF is 75%, whereas for BTPS Stage-I, the applicable PAF is 70%. In the event
the utility fails to achieve the stipulated target availability during any year, the
permissible Return on Equity is reduced proportionately in accordance with the
applicable regulatory provisions.

Accordingly, for determination of Profit under the Business Interruption section,

the average Plant Availability Factor (PAF) achieved during the last three
financial years has been considered.

2. “Fixed Charges” shall mean the components of Capacity Charges other than
Return on Equity (ROE).

Accordingly, for determination of the Business Interruption Sum Insured, the above
two components, namely:

• Reasonable Return /Return of Equity, and

• Fixed Charges,

shall be considered by the insurer while assessing any admissible claim under the
Business Interruption 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.

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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.
(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

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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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