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Reinsurance of the Airport Liability Insurance of the Manila International Airport... Tender

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GOVERNMENT SERVICE INSURANCE SYSTEM has floated a tender for Reinsurance of the Airport Liability Insurance of the Manila International Airport Authority. The project location is Philippines and the tender is closing on 15 Jul 2024. The tender notice number is 2024-GSIS-PB-026, while the TOT Ref Number is 103104212. Bidders can have further information about the Tender and can request the complete Tender document by Registering on the site.

Procurement Summary

Country : Philippines

Summary : Reinsurance of the Airport Liability Insurance of the Manila International Airport Authority

Deadline : 15 Jul 2024

Other Information

Notice Type : Tender

TOT Ref.No.: 103104212

Document Ref. No. : 2024-GSIS-PB-026

Competition : ICB

Financier : Self Financed

Purchaser Ownership : Public

Tender Value : PHP 1891002.57

Purchaser's Detail

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Tender Details

Tender are invited for Reinsurance of the Airport Liability Insurance of the Manila International Airport Authority

Procurement Mode : Public Bidding

Classification : Goods

Category : Services

Contract Duration : 0 Day/s

Budget for the Contract : PHP 1, 891, 002.57

Description : 1. The Government Service Insurance System (GSIS), through the GSIS Corporate Operating Budget for CY 2024, intends to apply the sum of One Million Eight Hundred Ninety-One Thousand Two Pesos and Fifty-Seven Centavos (Php1, 891, 002.57) being the ABC to payments under the contract for the Project Reinsurance of the Airport Liability Insurance of the Manila International Airport Authority, with the following details:

Assured Manila International Airport Authority

Line Airport Liability Insurance

Period of Insurance August 01, 2024 to September 11, 2024

Total Sum Insured

Gross Php16, 000, 000, 000.00

Retention Php 1, 760, 000, 000.00

Facultative Php14, 240, 000, 000.00

Premiums

Gross Premiums (exclusive of VAT) Php2, 124, 721.99

Retention Php 233, 719.42

Facultative (ABC exclusive of VAT) Php1, 891, 002.57

Relevant underwriting information shall be issued only to bidders who purchased the Bidding Documents.

Bids received in excess of the ABC shall be automatically rejected at bid opening.

2. The GSIS now invites bids for the abovementioned Procurement Project. The reinsurance cover shall be for the period August 01, 2024...