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Notice of Invitation for Prequalification for the Services of Insurance Brokers/Underwriters of ECOWAS Institutions

Date : 02 Oct 2019 - 01 Nov 2019
Venue : ECOWAS Commission,
Town : ABUJA
Country : Nigeria

Date of publication: 02 OCTOBER, 2019
Notice of Invitation for Prequalification for the Services of Insurance Brokers/Underwriters of ECOWAS Institutions

1. The Economic Community of West African States (ECOWAS) is a sub-regional multilateral organization created on 28 May 1975 and composed of fifteen (15) Member States. ECOWAS currently maintains Staff benefit Insurance policies for all Staff members of its five Institutions and Agencies and Asset 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.

2. ECOWAS wishes to engage the services of underwriters and brokers with specific expertise, proven track records and experience to handle its Insurances. ECOWAS is seeking written proposals from underwriters and brokerage firms to provide Insurance 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. The selected underwriters and brokerage firms will work directly with ECOWAS Administration on insurance coverages, renewals and claims administration.

3. The scope of work of the underwriters shall include but not limited to providing insurance cover on :
 Group Life & Group Personal Accident
 Industrial All Risks Insurance
 Motor Vehicle Insurance

4. 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 cover and the most competitive rates
 Helping ECOWAS in processing of Claims and ensuring urgent claim settlement
 Enlightening ECOWAS on ways of improving its risks
 Ensure the cost and administrative effectiveness of the programme as well as enhancing the scope and depth of cover under each policy.

5. The Department of General Administration & Conference of the ECOWAS Commission thereby requests from eligible 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:

 Signed introductory letter
 Evidence of Registration as a company
 Copy of certified current operating license issued by your regulatory authority
 Copy of Company’s Annual Audited Accounts for the last three years (2016, 2017 & 2018) certified by your regulatory authority with approval letter from the regulator
 Copy of certified Company’s Tax Clearance for the last three year (2016, 2017 & 2018)
 Copy of certified Company’s Group Life Insurance Certificate
 Evidence to prove number of years of insurance experience
 Management profile
 List of names & contact details of top ten (10) clients
 Letter of reference from your bankers
 Evidence of having managed insurances of Multilateral/Regional or Multinational organization.
 Evidence of Claims payment for claims over N100m or $500,000 within the last two years.
 Copy of Reinsurance treaties for the last two years.
 One Sample policy document for each of the following classes: (Group Life, Group Personal Accident, Fire, Burglary, Motor-Vehicle and Public Liability).
 List of company’s branches.

 Evidence of supervising claims payments of over N100m or $500,000 from January 2018 to date.
 Certified copy of Professional indemnity cover
 List of company’s branches.
 Evidence of company having a representative office in Abuja.
 Evidence of having international partners/Affiliate & offices outside operating country
 Write-up on how you intend to execute the project if selected.

NB / Brokers are expected to bring a strong network of connections and contacts in the Insurance market including evidence of providing services to organizations with similar size and structure to ECOWAS.

6. Interested eligible companies may obtain further information at Procurement Division, Directorate of General Administration, ECOWAS Commission, Plot 101, Yakubu Gowon Crescent, Asokoro District, P.M.B. 401 Abuja, Nigeria. Courriel: with copy to ; ;;

7. 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.
8. All submissions ( 1 Original + 5 Copies + one USB drive including the electronic copy of the submission) should be delivered in a sealed envelope 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 Abuja Nigeria. and clearly marked:

‘’Invitation for Prequalification for the Services of Insurance Brokers/Underwriters of ECOWAS Commission, Do Not Open, Except in Presence of the ECOWAS OPENING COMMITTEE ” on or before 1st November , 2019 at 11.00am at the latest.

9. This request for EoI can also be viewed on the following website:

Vafolay M. Tulay
Commissioner, General Administration & Conference

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