Tenders Are Invited For Insurance Broker

Tenders are invited for Selection of Insurance Broker for the Period Starting from 1 July 2025 to 30 June 2026. The Contract may be Renewed Annually for a Further Period of Two Years upon Satisfactory Service. In this Respect, Bids should be Submitted for the Period 1 July 2026 to 30 June 2027 and 1 July 2027 to 30 June 2028. The Insurance Broker shall be responsible for the following: (i) Identifying and valuing all risks to which the Bank is exposed in its day-to-day activities and preparing its insurance needs; (ii) Advising the Bank on best alternatives available in order to arrange for cost-effective insurance covers; (iii) Preparing insurance specifications for tender exercises, including the tenders for the Banks Medical Insurance Scheme, Cyber Liability Insurance, Commercial Crime Insurance and travel insurance for staff members and Management; (iv) Handling whole tender exercises including issue of tender documents to insurers, handling enquiries and arranging for site visits; (v) Evaluating, assessing and reporting on offers in relation to (iii) above and submitting appropriate recommendations thereon; (vi) Vetting of insurance policies and ensuring that they meet requirements; and (vii) Providing full technical support and assistance on all insurance matters, including claims handling and negotiating with insurers. Tender Link : https://www.bom.mu/procurement/notice-of-tender