Invitation for Pre-Qualification for the Service of Insurance and Reinsurance Brokers at the Economic Community of West African States (ECOWAS)

Posted by Future on Mon 20th Sep, 2021 - nigeriantenders.com

The Economic Community of West African States (ECOWAS) invites competent and reputable insurance brokerage firms to tender pre-qualification documents for the following works:

The Economic Community of West African States (ECOWAS) is a sub-regional multilateral organization created on 28 May 1975, and it is composed of fifteen (15) Member States.

ECOWAS currently maintains Staff benefit Insurance policies for all Staff members of its six Institutions and seven Agencies, as well as Asset insurance policies for three of its Institutions domiciled in Nigeria. Article 48 of the ECOWAS Staff Regulations makes it compulsory for all Institutions and agencies to subscribe to an Accident and Group Life insurance policy.

Application are invited for:

Title: Invitation for Pre-Qualification for the Service of Insurance and Reinsurance Brokers of ECOWAS Institutions / Relaunch Notice

Preamble

Through this publication, ECOWAS wishes to engage the services of Insurance and Reinsurance brokers with specific expertise, proven track records and experience to handle its Insurances.

ECOWAS is seeking written proposals from insurance brokerage firms to provide insurance and reinsurance brokerage services that include but not limited to risk handling, Insurance placement and servicing, risk exposure analysis, as well as general Insurance advisory services and claims assistance with prompt claims payment. The selected brokerage firms will work directly with ECOWAS Administration on insurance coverage's, renewals, and claims administration.

Scope of Work

The scope of work of the Brokers shall include but not limited to:

Assisting ECOWAS in selecting dependable underwriters with sound financials.
Accessing the Risk of ECOWAS to identify arrears of exposures.
Placing the risk with selected insurers.
Obtaining the best coverage at the most competitive rates.
Helping ECOWAS in processing of Claims and ensuring urgent claim settlements.
Enlightening ECOWAS on ways of improving its risk management through advising, training and capacity building.

N/B: Ensure the cost and administrative effectiveness of the programme as well as the enhancement of the scope and depth of cover under each policy. The Department of General Administration & Conference of the ECOWAS Commission thereby requests from eligible insurance brokerage companies to indicate their interest in providing these services. Interested companies must provide the following information showing that they are qualified to perform the services.

General Requirements for Brokers

Duly signed and stamped introductory letter by the company’s authorized signatories.

Evidence demonstrating that the bidder is not be in cessation of activity (bankruptcy). The bidder SHALL provide the relevant documents; (certificate of non-bankruptcy or a declaration on the honor of non-bankruptcy).
Certified true copy of Certificate of Incorporation and Registration delivered by the relevant Authority of the bidder’s country, such as the Corporate Affairs Commission (CAC) of Nigeria.
Certified true copy of current Operating License for insurance broking issued by the relevant insurance regulatory Authority.
Certified true copy of the bidder’s ’s annual audited accounts for the last five (5) years (2016, 2017, 2018, 2019 & 2020), certified by the relevant regulatory authority. The certification shall be supported by an approval letter from the regulatory authority.
Certified true copy of tax clearance certificate for the last five (5) years (2016, 2017, 2018, 2019 & 2020) delivered by and approved by the relevant regulatory Authority.
Certified true copy of the bidder’s Group Life Insurance Certificate certified by the relevant regulatory authority.
Evidence proving number of years of insurance experience managing insurance schemes similar to that of ECOWAS
Management and personnel profile of the bidder’s company.
List of names & contact details of top ten (10) current clients. Every claim shall be supported by certificate of satisfactory service, signed, sealed and delivered by the head of the concerned client company or the principal deputy in charge of insurance management.
Letter of reference from your bankers ascertaining your financial capacity. Letter should be signed by your bank’s branch manager or higher authority.
Evidence of having managed Insurances of Multilateral/Regional or Multinational Organization like ECOWAS. (Bidders SHALL Provide signed Contract or Job Completion Certificate issued by the head of the client company of the principal deputy in charge of insurance management).
Full detailed documentation of bidder’s company personnel and management profile with CVs and showing the total number of staff. The list of personnel provided should be substantiated by pension clearance certificate issued by the National Pension Commission.
Evidence of current registration and good standing with the association of brokers as well as the national insurance regulatory authority.

Note Well

All certifications, clearances, letters, approvals, etc. mentioned above that pertain to the relevant insurance regulatory authority must be on official letterhead(s), signed,sealed and delivered by the head of the regulatory body or the principal deputy in charge of insurance.
Where reference is made to the association of brokers, referenced documents should be signed by the head of the association or the principal deputy responsible for the concerned document.
In the case Nigerian bidders, the association of brokers shall be the Nigerian Council of Registered Insurance Brokers (NCRIB) and the regulator shall be the National Insurance Commission (NAICOM).

Specific Requirements for brokers

Evidence of supervising claim payment of over NGN100M or $500,000 annually for a five-year period from January 2016 to date.
Certified true copy of Professional Indemnity coverage certified by the relevant insurance regulatory authority.
Certified true copies of the bidder’s Company annual audited accounts and tax clearance certificate for the last five (5) years (2016, 2017, 2018, 2019 & 2020), certified by the relevant regulatory authority should clearly show bidder’s annual brokerage income for the five years.
Evidence of bidder having a representative office in Abuja, with a dedicated team to support the ECOWAS account if selected. CVs of the dedicated team should be attached to assess the qualification of the team. All qualifications of broking personnel (individual brokers) on the team should be confirmed by the Chartered Insurance Institute of Nigeria and the association of insurance brokers. For Nigerian bidders, the association shall be the Nigerian Council of Registered Insurance Brokers (NCRIB).
Evidence of having an international partner such that the international partner is one of the top global insurance brokers with global coverage and offices around the World.
Full detailed presentation of bidder’s company personnel and management profile with CVs and a certification from the Pension Commission signed by the highest applicable level of authority at the Pension Commission.
Certified true copy of current Operating License for reinsurance broking issued by the relevant insurance regulatory Authority.
Detailed written proposal on how the bidder intends to execute the project, if selected, to ensure the best value for money for ECOWAS.

Note Well

All pieces of evidence, certifications, letters, etc. from the client organization of the bidder must be on official letterhead(s) of the client institution as well as signed and sealed by the head of the client institution or his/her designee.
All certifications, clearances, letters, approvals, etc. mentioned above that pertain to the relevant insurance regulatory authority must be on official letterhead(s), signed, sealed, and delivered by the head of the regulatory body or the principal deputy in charge of insurance.
Also, where reference is made to the association of brokers, referenced documents should be signed by the head of the association or the principal deputy responsible for the concerned document.

Please also note that all the above requirements are mandatory for the acceptance of the bids. The Non-Submission of any of these documents will lead to the disqualification of the Bidder.

Application Closing Date

11:00am Friday, 22nd October, 2021.

Submission of Documents

All submissions (1 Original + 3 Copies + one (1) USB drive including the electronic copy of the submission) should be delivered in a sealed envelope clearly marked "Invitation for Pre-qualification for the Services of Insurance Brokers of ECOWAS Commission, Do Not Open, Except in Presence of the ECOWAS OPENING COMMITTEE" and deposited in the ECOWAS Tender Box located in the:

Directorate of General Administration,

Procurement Division,

1st Floor ECOWAS Commission,

101 Yakubu Gowon Crescent,

Asokoro District, P. M.B. 401

F.C.T - Abuja.

E-mail: procurement@ecowas.int with copy to cdeh@ecowas.int , sbangoura@ecowas.int , afallah@ecowas.int

Interested eligible companies may obtain further information at the address and email stated above.

Please Note

The attention of interested Consultants is particularly drawn to Article 117 of the ECOWAS Procurement Code (“Infringements by Candidates, Bidders and Awardees”), providing information on corrupt or fraudulent practices in competing for or executing a contract. In addition, please refer to the following specific information on conflict of interest related to this assignment as per “Article 118 of the ECOWAS Procurement Code.