Quotation for: Industrial All Risk, Standalone Terrorism, Public Liability Act, Commercial General Liability Insurance, Fidelity Guarantee Insurance, Money Insurance, Electronic Equipment Insurance, Marine Open Policy for Import/export, Marine open policy for Inland transit, All Risk policy for Laptops, Directors & Officers Liability, Fire policy, Special Contingency Policy for Contractors Plant & Machinery, Workmen Compensation Policy and Commercial Crime Policy.

Tender No.: GSEG/ FIN/

RECEIVER OF THIS TENDER DOCUMENT IS ADVISED TO CHECK AND ENSURE

COMPLETION OF ALL PAGES OF TENDER DOCUMENT AND REPORT TO THE

ISSUING AUTHORITY ANY DISCREPANCY IN TIME FOR CORRECTIVE ACTION, IF

ANY BEFORE THE BIDS ARE SUBMITTED. THE TENDERER IS REQUIRED TO

SPECIFICALLY MENTION IN A DEVIATION STATEMENT THE CLAUSES OF THE

TENDER THAT ARE NOT ACCEPTABLE IN THEIR PRESENT FORM AND ALSO THE

DEVIATION SOUGHT, IF ANY, IN CASE THERE ARE NO DEVIATIONS, THE TENDERER

SHALL CLEARLY CERTIFY THE SAME IN THE NO-DEVIATION STATEMENT AS WELL

AS THE FORWARDING LETTER. IT IS EXPECTED THAT THE DEVIATIONS (IF ANY)

SHALL BE BARE MINIMUM AND OFFERS WITH UNACCEPTABLE DEVIATIONS ARE

LIABLE TO BE REJECTED WITHOUT ANY FURTHER DISCUSSION.

THIS TENDER SPECIFICATION IS ISSUED TO:

GUJARAT STATE ENERGY GENERATION LIMITED

FF Shed Nos. A/78/3-8, Besides Patni computers (iGATE), Sector 25, GIDC

Electronic Estate, Dist. Gandhinagar– 382016, Gujarat

Ref : Fin/Insurance/26-27 Date : 10th March,

Sub: Invitation to quote for Industrial All Risk Insurance Policy, Stand Alone

Terrorism Policy, Public Liability Act, Commercial General Liability Insurance,

Fidelity Guarantee Insurance, Money Insurance, Electronic Equipment

Insurance, Marine Open Policy for Import/export, Marine open policy for Inland

transit, All Risk policy for Laptops, Directors & Officers Liability, Fire policy,

Special Contingency Policy for Contractors Plant & Machinery, Workmen

Compensation Policy and Commercial Crime Policy for Gujarat State Energy

Generation Ltd. Power Plants (156.1 MW and 351.43 MW Gas Based Combined

Cycle Power Plants) at Hazira site, Village: Mora, Post: Bhatha, Surat-Hazira

Road, Dist : Surat-394510, Gujarat.

Brief Overview of Gujarat State Energy Generation Limited:

 GSEG is public limited company promoted by Gujarat State Petroleum Corporation

 It is a Special Purpose Vehicle for the purpose of generating power in Gujarat by

harnessing the eco-friendly and economical natural gas.

 The gas based combined cycle power plant under operation is of 156.1 MW capacity

(104 MW Gas Turbines + 52 MW Steam Turbine = 156.1 MW)

 Promoters: GSPC is a reputed and leading Government of Gujarat PSU engaged in

the business of oil and gas, in Gujarat.

 Technology Supplier: Alstom Power India Limited

 O&M Contract: The O&M contract is with M/s. Pipavav O&M Services Pvt. Ltd.

 Gas Supply is from GSPC, RIL etc.

 Gas Transportation is through pipeline network of GSPL (Gujarat State Petronet

 GSEG has power purchase agreement with M/s. GUVNL. The power is evacuated

to GETCO substation at KIM through transmission lines.

 The Gas based Combined Cycle Power Plant of capacity of about 351.43 MW (GT

222 MW & ST 128 MW) is co. The plant is declared available under PPA and run on

the requirement of SLDC.

 Its Technology Supplier is M/s. BHEL.

 For 351.43 MW CCPP, PPA is with GUVNL, Gas Supplier is GSPC/GAIL Dahej, Gas

Transportation Network is of GSPL and M/s. Pipavav O&M Services Pvt.Ltd. is the

O&M Contractor who is also Additional insured under the IAR, Terrorism, Public

Liability Act & Commercial General Liability Insurance Policies.

 The plant is ISO 9001: 2008, ISO 14001:2004, OHSAS 18001:2007 certified plant.

1. Brief details of Power Plant

a. 156.1 MW power plant :

Sr.# Description Qty Make / Year of Capacity/

(nos.) Model Installation RPM/Voltage/etc

1 Gas Turbine 02 Alstom 2000 52 MW each

(Turbine – 3 stages GT8C2 5200 RPM

Compressor – 12 stages)

2 Steam Turbine 01 Alstom 2000 52 MW

DK21N33 3000 RPM

3 GT Generator – 02 nos. 03 ABB 2000 11 KV

ST Generator – 01 no. WY16Z- 3000 RPM

4 Generator Transformer 03 Alstom 2000 70 MVA, 11/220 KV

Oil Capacity 20500 KG,

5 Heat Recovery Steam 02 Alstom 2000 Steam flow & pressure

Generator Dual HP – 70 TPH; 72.5 Kg/cm2

Pressure LP – 23 TPH; 6.4 Kg/cm2

b. 351.43 MW Power Plant:

Sr.# Description Qty Make Year of Capacity

(nos.) Installation

1 Gas Turbine 01 General Electric, USA 2011 222 MW

(GT - Compressor (Heavy duty advanced

stages: 18 class industrial gas

Gas Turbine Stages: 3) turbine (Frame 9FA+e

(Protected with CO2 Fire

Protection System)

2 Steam Turbine 01 BHEL 2011 128 MW

3 GT Generator – 01 no. 01 BHEL 2011 231.9MW

(Hydrogen Cooled) @ 15.75 Kv

4 ST Generator – 01 no. 01 Siemens AG 2011 190MVA

(Air Cooled) @ 15.75 Kv

5 GT Generator 01 BHEL 2011 Rating:

Transformer 273 MVA

6 ST Generator 01 BHEL 2011 Rating:

Transformer 273 MVA

7 Heat Recovery Steam 01 BHEL 2011 -

2. Tender Conditions:

a. Gujarat State Energy Generation limited (hereinafter the ‘Owner’ or GSEG), invites

proposals through e-tender for Insurance of 156.1 MW and 351.43 MW Gas Based

Combined Cycle Power Plants at Hazira site, Village: Mora, Post: Bhatha, Surat-

Hazira Road, Dist : Surat-394510, Gujarat.

b. The selected Insurers must be licensed by IRDA as General Insurer

c. Financial Bid would be open only of the selected Insurers – those who meet following

technical criteria. Bidder should have adequate Technical experience & Financial

capability (briefly mentioned herein below) to service insurance policies of Thermal

d. Financial Bid of Insurers who meets with our technical criteria will only be opened.

3. Technical Requirement:

The following are the technical requirement of the prospective bidders:

a. The solvency margin of the company should be as per IRDA guidelines except for

Government insurance companies.

b. The Bidder must have Reinsurance arrangements with all Reinsurers having

minimum rating of “A” or “A-“(of A.M. BEST) (Refer Annexure-C2).

1. Submission of Bids:

(i) The Bidder shall submit the bids in two parts :

a) Technical Bid (part I)

b) Commercial / Price bid (Part II) except annexure II

which is to be submitted online.

(ii) Both the bids shall be submitted in two separate sealed envelopes

marked as “Technical Bid for IAR Policy (Part I)”.

(iii) The bidders are requested to submit their offer online through e-tender.

Please refer the information given here below for filling your tender

3.The tentative timetable for the bid process is as follows:

Schedule of Dates

Last date of online submission of e-Tender

Submission of Technical documents with supporting

Physically to GSEG office at Gandhinagar(one original + one

If any of the dates mentioned above is declared a public holiday, the deadline will be the

next working day.

Condition for nprocure :

Digital Certificate:

Bidders who wish to participate in this E-Tender will have to procure valid digital

certificate as per Information Technology Act,

Bidder may contact M/s (n) code Solutions - A division of GNFC Ltd., Ahmedabad

for assistance at following address:

(n)Code Solutions - Division of GNFC Ltd.,

(n)Procure Cell

501, GNFC Infotower, S.G. Road

Bodakdev, Ahmedabad - 380054 (Gujarat)

Toll Free : 7359 021 663 (9:30 AM to 8:00 PM)

Email : nprocure[at]ncode[dot]in

*Except 2nd, 4th Saturday and Public Holidays

Bidders who already have a valid Digital Certificate need not procure a new Digital

In case bidders need any clarifications or if training required to participate in online

tenders, they can contact (n)Procure Support team:-

(n)Code Solutions - Division of GNFC Ltd.,

(n)Procure Cell

501, GNFC Infotower, S.G. Road

Bodakdev, Ahmedabad - 380054 (Gujarat)

Toll Free : 7359 021 663 (9:30 AM to 8:00 PM)

Email : nprocure[at]ncode[dot]in

*Except 2nd, 4th Saturday and Public Holidays

2. The Commercial bids shall be opened at Office of GSEG, Gandhinagar.

3. The Physical Bids to be submitted shall be addressed to Gujarat State Energy

Generation Limited FF Shed Nos.a/78/3-8, Besides Patni computers (iGATE), Sector

25, GIDC Electronic Estate, Dist. Gandhinagar – 382016, Gujarat

4. The bidder must fill up all the Annexures and furnish all the required information as per

the instructions given in various sections of the tender specifications.

Evaluation Criteria

Both Technical & price bids will be evaluated as under.

a) All bidders must meet the Technical Criteria Specified in the bid

b) Price bids for plant will be ranked from lowest to highest

5. General Conditions:

a) The rates should be quoted exclusive of GST. No subsequent increase in premium

rates will be allowed under any circumstances.

b) The premium quoted by the Insurer will be considered as Full and Final Premium to

be paid by GSEG for the coverage sought in this bid. No subsequent increase in

premium rates will be allowed under any circumstances.

c) There must not be any breach of underwriting guideline as approved by the

Board/Committee of Insurance Co and filed with insurance Regulating authority or

any applicable law while making an offer.

d) You must give a separate declaration under signature of Authorized Signatory that

“the premium quoted in the offer is totally within the applicable underwriting policy

of the Company as approved by the Board/Committee and filed with insurance

Regulating authority. It is also in compliance with relevant rules /laws/guidelines to

the extent applicable. There is no breach of any of such underwriting

guidelines/rules/laws as applicable to us. Any responsibility or consequential liability

arising out of such intended/un-intended breach shall be solely of the offerer (name

of the company). Offerer (name of the bidder company) indemnifies GSEG against

any and all liabilities.” GSEG reserves right to disqualify or reject the offer if any

discrepancy in this regard quoted is found.

e) GSEG has not kept any intermediary e.g. broker or agent etc. for the aforesaid

policy. Consequently, the entire applicable discount should be passed on to GSEG.

f) Apart from the insurance quote, you are also requested to offer the terms with

regard to your servicing, claim handling, valuation etc. if any.

g) Secrecy of GSEG information / documents to be ensured at all times.

h) THE PREMIUM AMOUNT WITH SPECIFIED ADD ON COVERS MUST BE

FURNISHED WITH THE PRICE BID only IN THE FORMAT ANNEXURE-II (OF

VOLUME –II) ONLY. ANY MENTION OF PRICE IN ANY FORM IN THE

TECHNICAL BID WILL RESULT IN REJECTION OF THE BID. Non-submission of

information may invite disqualification and entitle GSEG to interpret the amount

quoted in the manner it deems fit.

i) Free Add-on Covers, if any, should be mentioned separately in the deviation sheet

given in technical bid Annexure-A – (Volume-I).

j) Guideline issued by IRDA from time to time with regard to insurer’s responsibility

and liability towards insured shall be automatically applicable to this insurance

contract to the extent they improve upon the stipulation of this tender from GSEG’s

j) Unsolicited price bid shall not be entertained.

k) In case two provisions to the tender are considered to be contradictory, the same

shall be pointed out as a part of technical bid. GSEG’s decision in this respect will

l) The offer of the Bidder shall have to be kept valid for a period of three months from

the last date of submission of tender.

m) GSEG also reserves the right to choose the Leader and Co-Insurer (s) and

percentage sharing. GSEG also reserves full right to divide the business between

underwriters as it deems fit.

n) GSEG reserves the right to accept and/or reject at its discretion any or all quotations

without assigning any reason.

o) Copy of technical bid duly signed and stamped on all pages shall be submitted as a

mark of acceptance of all terms and conditions. . Detailed calculations for

pricing/premium quoted shall be submitted later on as and when required by GSEG.

p) The Technical Bid and Annexure I of Price Bid duly completed in all respects shall

be submitted in separate sealed envelopes super scribing “Technical Bid” and

“Annexure I of Price Bid” on it not later than 18.00 hrs on 18/03/2025 at the office of

Chief Financial Officer, GSEG, Gandhinagar. Please note that Technical bid cover

should not contain any price related information. If such violation is found, such bids

will be summarily rejected. Copy of technical bid duly signed and stamped on all

pages shall be submitted as a mark of acceptance of all terms and conditions.

Detailed calculations for pricing/premium quoted shall be submitted as a part of the

q) Non-OEM Clause:

It is further noted and agreed that in the event of physical loss or damage to the

property insured hereunder the insured, at their 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 difference between the OEM

quote and the lowest quote doesn't exceed 25% of the lowest quote and quotes are

based on the same technological specifications.

Notwithstanding anything to the contrary above, insured will have the option to go

for repair/replacement from reputed non-OEM subject to quotes are based on the

same technological specifications.

Address for communication:

Chief Finance Officer

Gujarat State Energy Generation Limited

FF Shed Nos.a/78/3-8, Besides Patni computers (iGATE),

Sector 25, GIDC Electronic Estate,

Dist. Gandhinagar – 382016, Gujarat

6. The bidders are also to note the following:-

1. The current Material Damage sum insured values mentioned in the tender are based

on the latest valuation report (review) of M/s.Bhatawadekar & Company Insurance

Surveyuors & Valuers, in February

2. We request you to kindly quote strictly as per the parameters given herein below.

3. The premium quotes should be strictly for the coverage as sought by us. For

Business Interruption, the Gross Profit at Rs. 61 Cr may be considered as sum

insured on an annual basis. However, the sum insured may be increased during

the policy period based on the renewal of PPA Agreement with GUVNL for

156.1 MW Plant.

4. Earthquake coverage is sought in full i.e. not on first loss basis.

5. No reduction in values is required to be considered by you for waiver of up to 15%

under insurance under the IAR Policy.

6. Removal of debris is covered for a sum insured of Rs. 5 crore.

7. Start up and Shut Down expenses to be covered for Rs.5 crore.

8. Fire Fighting expenses to be actual for e.e.l.

9. Loss minimization expenses to be insured for Rs. 5 crore.

10. Omission to insure additions, alterations or extensions to be covered for 5% of BMA

11. Specified Supplier’s Extension Cover for Premises & pipeline network of gas

suppliers and transporters: GSPC for supply of gas, PLL, GSPC & GSPC LNG for

regasification facility, GSPL, GAIL, PIL etc for transportation of gas is required to be

covered. Insurer to quote for cover for 20% of sum insured for Business Interruption.

12. Specified Customer’s Extension Cover for GUVNL / GETCO Substations at KIM and

KOSAMBA including Transmission Lines from Plant Premises to GUVNL / GETCO

Substations/NLDC or any other substation/ line due to which evacuation/ generation

is restricted. Insurer to quote separately for the said cover for 20% of sum insured

for Business Interruption

13. Utility Extension cover for Water Bore Wells/Intake Well/Pump house and water

pipelines of ONGC up to taping point at/near Ichhapur sump-pump house – water

storage/pumping/supply system at Kribhco, Hazira incl.pipeline for pumping/supply

of water. Insurer to quote separately for the said cover for 17% of sum insured for

Business Interruption.

14. Stand Alone Reinsurance driven Terrorism Insurance with War Risk Buy Back cover

with limit of indemnity Rs. 2,050 Cr. with deductibles of Rs. 25 lacs for MD and

days each occurrence for BI. Insurers must quote for War Risk Buy Back cover for

Limit of INR 250,00,00,000 under Stand Alone Terrorism Policy. Premium for Stand

Alone Terrorism and War Buy-back must be separately mentioned in the quote

15. The technical bid should indicate any additional add on covers with relevant details

offered by the bidder. The price implication for additional add on covers should be

quoted separately in price part.

16. The ‘Price Quote’ should give break up of total price in terms of All Risk coverage,

MB, FLOP and MLOP.

17. Insurer must mention separately claim loading, if any, in the premium calculation.

18. No bidder shall consider any deviation from the given sum insured values in the

premium quotes.

19. The wording of the policy of IAR has to be same as the prevailing wording of TAC /

improved coverages permitted by IRDA.

20. Clearly indicate Bid Participation / Capacity in the technical bid. Bid indicating

participation / capacity less than 60% shall not be accepted. However, the bidder

shall have to accept the sharing pattern as may be decided by GSEG at its sole

21. The offers/rates are required to be submitted in the form of Hard/Soft copy i.e. Excel

Sheet / Pen-drive with proper links and discounts.

22. IRDA approval wording of all policies need to be disclosed along with all

endorsement applicable as per enquiry slip.

7. Details of coverage required: -

ENQUIRY SLIP FOR INDUSTRAIL ALL RISK INSURANCE

Name of Insured : M/s. Gujarat State Energy Generation Ltd.

Name of Additional M/s. Pipavav O&M Services Pvt. Ltd, O&M Contractor for Plants

Correspondence : FF shed nos. A/78/3-8, GIDC electronic estate,

Address Besides Patni computers(iGATE), Sector

Occupation / Business : 156.1 MW Gas based Combined Cycle Power Plant and

351.43 MW Gas based Combined Cycle Power Plant

Location of Risk : Power Plant Premises located at:

Hazira Site, Village Mora, Post Bhatha, Surat-Hazira Road, Surat –

394510, Gujarat

Including property lying outside plant premises valued

approximately Rs.50 Cr.:

a) Ichhapur Sump: Pump House including machinery (pumps etc.),

pipelines (including pipeline from taping point to sump-pump house)

b) Pipeline (approximately 9 Kms long) from Ichhapur pump house to

c) Pipeline going/laid down outside the plant for disposal of

effluent/waste water into the sea

d) Property lying in the premises of Kribhco, Hazira such as Water

Pumping System etc and Pipeline laid down from Kribhco to GSEG

Plant Premises (approx. 6 Km long).

Period of Insurance : 16.04.2026 to 15.04.2027

Description of : Section I – Material Damage

to be insured and Description 156.1 MW 351.43 MW Total

Sum Insured Plant Plant Sum

Sum Insured Sum Insured Insured

Material Damage

1. Buildings incl. P&F, 22.08 49.06

compound walls, chain

link fencings, internal

roads, any other

structures & civil works

etc., belonging to insured

(excluding Residential

quarters & Guest House,

Admin Building, Annex

Building, GM Bungalow )

2. Plant & Machinery incl. 815.74 1876.62

piping & cabling,

foundation, accessories,

electrical installations etc.

3. Stocks of Stores,

Spares & Consumables,

fuels, all other stocks

pertaining to the insured’s 90.00

trade, including Stocks

held in trust etc., whilst

located anywhere in the

plant premises incl. in

4. FFF, Office 2.19

Earthquake (Fire &

Machinery Breakdown 693.38 1595.13

Plant & Machinery incl.

foundation, accessories,

electrical installations etc.

(excluding piping &

Section II – Business Interruption

156.1 MW Plant 351.43 MW Plant

Fire Loss of Profit

Estimated Gross INR 1.00 Crores INR 60 Crores

Indemnity Period 12 Months 12 Months

Basis Output Basis Output Basis

Process: Batch / Continuous Continuous

Machinery Loss of Profit

Estimated Gross INR 1.00 Crores INR 60 Crores

Indemnity Period 12 Months 12 Months

Basis Output Basis Output Basis

Process: Batch / Continuous Continuous

9. Add-on Covers : Section I – Material Damage

Cover SI /Limit

(Combined for both

1. Earthquake (Fire & Shock) TSI

3. Escalation clause 5% of BMA Sum

4. Omission to insure additions, alterations 5% of BMA Sum

or extensions etc. Insured

5. Removal of Debris (in excess of 1% of INR 5 Crore

6. Architect, Surveyors & Consulting INR 5 Crore

Engineers Fees (In excess of 3%)

7. Involuntary Betterment/Technological INR 5 Crore

Advancements/Obsolete Equipment

8. Start-up & Shut-down Exp. INR 10 Crore

9. Fire Fighting Expenses At actual

10. Loss minimization expenses INR 5 Crore

11. Minor Work INR 5 Crore

12. Expediting expenses INR 5 Crore

13. Immediate repairs INR 5 Crore

14. Impact Damage FULL Sum Insured

15. Preparation of Lost records/Computer INR 5 Crore

Records, Valuable Papers/Plans &

Records Clause/Cost of Re-writing

16. Additional Customs Duty INR 5 Crore

17. Demolition and Increased Cost of INR 5 Crore

18. Property in Course of INR 5 Crore

Construction/Erection

19. Undamaged Foundations INR 5 Crore

20. Obsolete Spare Parts INR 5 Crore

21. Sprinkler Up-Grading Costs INR 5 Crore

22. Deliberate Damage INR 5 Crore

23. Temporary Removal of Property / Stocks INR 5 Crore

24. Landscaping cost INR 5 Crore

Section II – Business Interruption

Cover SI / Limit

(combined for both plants)

1. Supplier Extension 20% of BI SI

Premises & pipeline network

of gas suppliers and

transporters: GSPC, RIL,

ONGC, CAIRN for supply of

gas, PLL/ GSPC for

regasification facility, GSPL,

GAIL, RGTIL for

transportation of gas

2. Utility Extension 17% of BI SI

 Water Bore Wells /

Intake Well / Pump

house and water

pipelines of ONGC up to

taping point at/near

Ichhapur sump-pump

 Water storage / pumping

/ supply system at

Kribhco, Hazira incl.

pipeline for pumping /

supply of water

3. Customer Extension 20% of BI SI

Substations/NLDC at KIM

and KOSAMBA including

Transmission Lines from

Plant Premises to GUVNL /

GETCO/NLDC Substations

or any other substation/ line

due to which evacuation/

generation is restricted.

4 Denial of Access 20% of BI SI

10. Clauses : Section I – Material Damage

1. Earthquake (Fire & Shock) & STFI Cover

2. Agreed Bank Clause

3. Designation of Property

4. Local Authorities Clause

5. Architects, Surveyors & Consulting Engineers Fees Clause

(inbuilt up to 3% of the claim amount)

6. Removal of Debris (inbuilt up to 1% of the claim amount)

7. Omission to Insure additions, alterations or extensions etc.

8. Start-up and Shut-down expanses

9. 72 Hours Clause

10. On Account Payment Clause

11. Goods held in trust

12. Automatic Reinstatement Clause

13. Fire Fighting Expenses

14. Loss Minimization Expenses

15. Reinstatement Value Clause

16. Minor Work clause

17. Expediting expenses

18. Immediate repairs

19. Capital addition clause up to 10% of sum insured

20 Nominated Loss Adjuster Clause:

• M/s. Mehta & Padamsey Insurance Surveyors Pvt.Ltd.

• M/s. Bhatawadekar & Company Insurance Surveyors

• M/s. Proclaim Insurance Surveyors

21 Escalation clause

22 Impact Damage Clause

23 Involuntary Betterment clause

Section II – Business Interruption

1. Supplier Extension Clause

2. Utility Extension Clause

3. Customer Extension Clause

4. Departmental Clause

5. Alternative Basis Clause

6. Auditor's Fees and Claim preparation expenses up to INR

7. Sum Insured Adjustment Clause

8. Denial of Access clause

9. Fix Cost Reimbursement Clause

10. Local Authority Clause

11. Additional Increased Cost of Working

11. Basis of Sum : Reinstatement Value Basis

12. Deductible : MD: 5% of claim amount subject to minimum Rs.1.25 Crore

Time Excess FLOP – 30 Days of Standard Gross Profit

MLOP- 45 Days of Standard Gross Profit

13. Claim Experience : : (Rs. In Cr)

Year Premium (Ex. Claim experience

14. Risk Assessment : The soft copy of Risk Inspection report of the company, prepared by M/s

Report copy attached Unison Insurance Broking Services Pvt. Ltd during 2025, after risk

assessment study conducted by them recently, is being emailed to you

Please note that the phase 1 is currently not operational and is under

Preservation Mode. Phase 1 is not presently under PPA and hence, the

BI sum insured of phase I represents notional amount of Rs.1 Cr. only.

15. Special Condition 1. Midterm enhancement of PD & BI sum insured shall be allowed during

the policy period with same rate, terms and conditions on payment of

premium on prorata basis. Same will be applicable for extension of the

policy beyond 12 months.

2. BI loss during “No Demand” period

If the plant is available for generation but is not operational only because

of “No Demand” from GUVNL/Procurer (referred in subsequent places as

purchaser) GSEG receives Fixed Cost from the purchaser.

Notwithstanding to anything to the contrary mentioned elsewhere in the

policy it is agreed that in case of an indemnifiable loss to the property

during the above mentioned period the Fixed cost which the insured

would have otherwise received from Purchaser had the loss not occurred

would form part of the BI claim.

ENQUIRY SLIP FOR STANDALONE TERRORISM INSURANCE WITH WAR RISK BUY

Sr. Particulars Descriptions

1 Name of Insured M/s . Gujarat State Energy Generation Ltd.

Name of Additional M/s. Pipavav O&M Services Pvt. Ltd, O&M Contractor for Plants

2 Correspondence FF shed nos. A/78/3-8, GIDC electronic estate,

Address Besides patni computers(iGATE), Sector

3 Location of Risk Power Plant Premises located at:

Hazira Site, Village Mora, Post Bhatha, SuratHazira Road, Surat –

394510, Gujarat

Including property lying outside plant premises premises valued

approximately Rs.50 Cr.:

a. Ichhapur Sump : Pump House including machinery (pumps etc.),

pipelines (including pipeline from taping point to sump-pump

b. Pipeline (approximately 9 Kms long) from Ichhapur pump house

to plant premises

c. Pipeline going/laid down outside the plant for disposal of

effluent/waste water into the sea

d. Property lying in the premises of Kribhco, Hazira such as Water

Pumping System etc. and Pipeline laid down from Kribhco to

GSEG Plant Premises (approx. 6 Km long).

e. Including Residential quarters & Guest House, Admin Building,

Annex Building, GM Bungalow

4 Insured’s Trade or 156.1 MW Gas based Combined Cycle Power Plant and

Business 351.43 MW Gas based Combined Cycle Power Plant

5 Period of Insurance 16.04.2026 to 15.04.2027

6 Details of property Section – 1 : Material Damage

insured and sum

insured details Description 156.1 351.43 MW Total

MW Plant Sum Sum

Sum Insured Insured

Insured (Cr.) (Cr.)

Material Damage

1. Buildings incl. P&F, 22.08 49.06

compound walls, chain link

fencings, internal roads, any

other structures & civil

works etc., belonging to

(excluding Residential

quarters & Guest House,

Admin Building, Annex

Building, GM Bungalow )

2. Plant & Machinery incl. 815.74 1876.62

piping & cabling,

foundation, accessories,

electrical installations etc.

3. Stocks of Stores, Spares

& Consumables, fuels, all

other stocks pertaining to

the insured’s trade, 90.00

including Stocks held in

trust etc., whilst located

anywhere in the plant

premises incl. in open.

4..FFF. Office equipments, 2.19

5. Property outside plant

premises (Not more than

3% of TSI) (SFSP Policy

Business Interruption INR 1 Crore INR 60 INR

(Indemnity period – 12 Crores Crores

months) Output basis

Total SAT Sum Insured

7 Limit of Indemnity INR 2050,00,00,000 each occurrence and in the aggregate

8 Limit of Indemnity for INR 250,00,00,000/-

9 Deductible Property Damage : INR 25,00,000 each and every occurrence under

Business Interruption : 3 days of each occurrence

10 Hypothecation TBA if any

Completed proposal form attached.

Stand Alone Terrorism Cover Proposal Form

A. INFORMATION ABOUT THE APPLICANT

1. Proposer Company Name: M/s. Gujarat State Energy Generation Ltd.

2. Do you wish to insure the subsidiaries? No

3. If the answer to 2. Above is Yes, name Not Applicable

of the subsidiaries with address.

4. Office Address: FF Shed Nos. A/78/3-8,

(Address for Correspondence) GIDC Electronic Estate

Besides Patni Computers(iGATE),

Sector 25, Gandhinagar – 382016, India

5. Ownership of the Company (e.g. public, Government

private, government, etc.)

6. Date of Commencement of operations: 156.1 MW Gas based Combined Cycle

Power Plant was commissioned in

December 2000 in Open Cycle mode.

Power plant was commissioned in June

2002 in Combined Cycle mode.

351.43 MW Gas based Combined Cycle

Commissioned in Mar

7. Description of Applicant’s business Gas based Combined Cycle Power Plant

(Industrial, Commercial, Residential etc.)

Provide details (Nature of business)

8. Is Business Interruption cover required? Yes

9. Insured Values

Physical Assets and Business Interruption Information

Insured Location Property Damage Business Total

Sum Insured Interruption Sum

Insured (PD+BI)

Address Pin Value of Value of

Code Building Contents

Gujarat 156.1 MW 394510 INR INR INR 1 Cr. INR

State Power 22.08 815.74

Energy Plant* Crores Crores Crores

Generation (operational) incl INR

351.43 MW 394510 INR INR INR 60.00 INR

Power Plant 49.06 1968.81 Crores

Crores Crores Crores

SFSP Policy 382016 INR INR 1.38 0 INR

* 156.1 MW Power Plant :

Power Plant Premises located at:

Hazira Site, Village Mora, Post Bhatha, Surat Hazira Road, Surat – 394510, Gujarat

Including property lying outside plant premises:

a) Ichhapur Sump : Pump House including machinery (pumps etc.), pipelines (including

pipeline from taping point to sump-pump house) etc

b) Pipeline (approximately 9 Kms long) from Ichhapur pump house to plant premises

c) Pipeline going/laid down outside the plant for disposal of effluent/waste water into the

** 351.43 MW Power Plant :

Power Plant Premises located at:

Hazira Site, Village Mora, Post Bhatha, Surat Hazira Road, Surat – 394510, Gujarat

Including property lying outside plant premises:

Property lying in the premises of Kribhco, Hazira such as Water Pumping System etc

and Pipeline laid down from Kribhco to GSEG Plant Premises (approx. 6 Km long).

Property Damage : INR 2,872.46 Crores

Business Interruption : INR 61.00 Crores

Total : INR 2,933.46 Crores

Property Damage : INR 25,00,000/-

10. Deductible each occurrence

Business Interruption : First 3 days

each occurrence

11. Period of Insurance From 16.04.2026 to 15.04.2027

12. BI Indemnity Period (in months) 12 Months

13. Limit of Cover proposed (in INR Crores) INR 2,050 Crores

14. Security Management Please find attached Risk Assessment

Report conducted by M/s. Unison

Insurance Broking Services Pvt. Ltd.

Enquiry slip for Public Liability Insurance Act Policy

Sr. Particulars Descriptions Sum Insured

1 Name of the Insured Gujarat State Energy Corporation Ltd.

Name of Additional M/s. Pipavav O&M Services Pvt. Ltd, O&M

Insjured Contractor for Plants

2 Correspondence FF shed nos. A/78/3-8, GIDC electronic

Address estate,

Besides patni computers(iGATE), Sector

3 Manufacturing plants 1. Manufacturing Premises

Hazira Site, Village Mora,

Post Bhatha, SuratHazira Road,

FF shed nos. A/78/3-8, GIDC

electronic estate, Besides patni

computers(iGATE), Sector

156.1 MW Gas based Combined Cycle

4 Business Power Plant and

351.43 MW Gas based Combined Cycle

5 Locations of risks Entire activity of GSEG as a whole

6 Type of Policy Public Liability Insurance Act Policy

7 Paid up Capital of the Rs.

8 Estimated turnover

during 12 months INR 500 Cr

9 Limits of Indemnity Any One Accident - being Max. as per PLI Rs.250Crs

Any One Year being Maximum per PLI Act

10 Risk to be covered As per Public Liability Insurance Act,

11 Policy Period From : 16.04.2026 to 15.04.2027

Completed proposal form attached.

PROPOSAL FORM FOR PUBLIC LIABILITY INSURANCE

1. Gujarat State Energy Generation Ltd (GSEG Ltd)

2. Office of GSEG Ltd :

FF shed nos. A/78/3-8, GIDC electronic estate,

Besides patni computers(iGATE), Sector

Regd. Office of GSEG Ltd :

FF shed nos. A/78/3-8, GIDC electronic estate,

Besides patni computers(iGATE), Sector

3. As per Point no.

4. Location of premises to be insured :

Site: GSEG Ltd, Hazira Site, Village Mora, Post Bhatha, Surat Hazira Road, Surat –

394510, Gujarat

5. At present the company does not have any godown / warehouse, the same would be

intimated as and when acquired. However spares / other consumable are kept at power

1. Generation of Electricity from Gas / Power Plant of 156.1 MW capacity i.e.

Combined Cycle Power Plant ( CCPP)

2. 351.43 MW CCPP expansion has taken place at the same site. The 351.43 MW

CCPP was commissioned in 23rd March

(b) layout plant as per risk inspection report

7. Not applicable. Technology supplier for the 156.1 MW plant is Alstom Power India Ltd.

For the 351.43 MW expansion the gas turbine machine is from GE, USA and technology

supplier is M/s. BHEL. O&M Contractor for both the plants is M/s. Pipavav O&M Services

Pvt. Ltd. who is also Additional insured under the IAR, Terrorism, Public Liability Act &

Commercial General Liability Insurance Policies.

8. Not applicable. Technology supplier for the 156.1 MW plant is Alstom Power India Ltd.

For the 351.43 MW expansion the gas turbine machine is from GE, USA and technology

supplier is M/s. BHEL. O&M Contractor for both the plants is M/s. Pipavav O&M Services

Pvt. Ltd. who is also Additional insured under the IAR, Terrorism, Public Liability Act &

Commercial General Liability Insurance Policies.

9. Since Dec 1998 i.e. date of incorporation of the Company

10 (a) Industrial area …………."

- L&T plant (fabrication)

- Reliance (Petrochemicals)

- BSNL exchange

(c) Residential area within an an approx. radius of 2 kms

- BSNL Exchange

- Mora village,

- Damka village,

- Junagam village,

- Suvali village,

11(a) There is:

- Natural Gas (no storage) – utilization @ max. 2.54 (0.80+1.74)million m3 / day

- Asbestos (small quantity on administrative building and earth station roof structure)

- HP / LP boilers

- Cl2 (5400kg) Detector is used and precaution taken as per statutory requirement.

12 (a) The premises is having a compound wall with two gates equipped with security

12 (b) There is private security stationed at gates as well as at the important locations in the

12 (c) From time to time as & when required civil, erection, including that of the present

ongoing 351.43 MW expansion activities, there are number of people (like labour, etc) are

permitted unaccompanied in the plant with gate pass. Also, visitors to the contractors are

entering the plant unaccompanied with gate pass. However, after the completion of such

activities, no visitor / customer shall be permitted unaccompanied in the plant. However, no

one is permitted to enter the premises without gate pass.

13. The premises, plant and machinery are in good condition and will be kept in good

condition. For the operations and maintenance of the plant, a separate contract has been

signed with M/s. Pipavav O&M Services Pvt. Ltd. Maintenance schedules are in place and

14. The fire protection system is already installed and commissioned.

- The GT fire detection system has been covered under the DCS system and is available

on the operator screen

- The tie up has been made with Kribhco for fire tender. Further, necessary

communication is maintained with Surat Collector Office

- The energy and water supply in case of emergency can be arranged within plant and

from the surrounding industries

14 (b) There may be welding, gas cutting or hot work at site.

14 (c) The design of foundations of Gas Turbines and Steam Turbine are based on relevant

codes referring to vibration analysis. GT Redundant Vibration measurement & control

system is used.

14 (d) The main equipment like Gas Turbines are in a container. The Steam Turbine is

having housing. The main control stations are in Control Room.

14 (e) For Gas Turbines, depending on the explosive limits of gas leakage, alarm system

gets activated and beyond such limit, the turbine trips thereby shutting off the gas flow.

Wind Sock is erected to know wind direction so that in case of chlorine leakage

person can take corrective action.

15. Main O&M contractor has taken Public Liability (Act) Policy.

17. No, as per our knowledge and belief.

At present the Company has Commercial General Liability (CGL) policy with Sum

Insured of AOA/AOY - Rs. 50 Cr/50 Crs from The New India Assurance Company

Ltd. A copy of policy is attached.

The Company also has Public liability Act policy with Sum Insured of AOA/AOY – Rs.

18. (c) Both Third party policies as mentioned at 18(b) have been issued by the same

insurer, the detail is as under :

(i). Insurer : The New India Assurance Company Limited, Gandhinagar

(ii) Policy No : Public Liability (Act) Policy : As attached herewith.

Commercial General Liability Policy : As attached herewith.

19. A copy of emergency plan is enclosed.

20. The estimated total annual wages amounts to Rs. 10 to 12 crores (includes contract fee

to O&M contractor also). The total staff strength is 100+ persons including employees on

contract basis, & employees of O&M contractor. Apart from that there are 25+ employees

and labours of the Contractor for the 351.43 expansion.

21. (a) Power Units Sold : 150 million units during 2025-26(Up to January ’2026)

(b) Estimate for next year: Approx. 177 million units (for the year 2026-27 proposed)

22. (a) Any one accident: Rs. 50 Crores

22 (b) Aggregate during the policy period: Rs. 50 Crores

23 No excess (zero excess)

24 No extension cover for transport of hazardous material.

Following extensions are required.

- Act of God Perils extension

- Industrial Seepage, Pollution and Contamination extension

(including the payment of reasonable cost of removing, nullifying or cleaning-up

seeping, polluting or contaminating substances)

- Carriage of Effluents (Outside the Premises) extension

25. (a) Yes. The effluent disposal is outside the plant premises, through underground

25. (b) The effluent is only through various blow downs and the necessary treatment like

neutralization is given before finally discharging. The effluent meets with the standards laid

25 (c) the effluent discharge pipeline is underground. Transportation extension is not

required. Extensions as mentioned in point no. 24 are required.

25(d) The length of such pipeline is about 4 Kms.

26. Yes Pollution cover required. Details for the same is attached herewith.

27. Policy period required: From 00.00 hrs of 16th April

to 24 hrs of 15st April

Industrial Seepage, Pollution and Contamination Extension

1. Generation of electricity with installed capacity of 156.1 MW. approx. 1094 million

units per year @ 80% load factor. Another 351.43 MW plant was commissioned in

February 2012 - approximately 177 million units per year @ 80% load factor.

2. (2.1) Location : Village Mora, Tal. Choryasi, Dist. Surat

(2.3) Country Side

3. There are: Gas, Raw Water and effluent disposal pipeline. A raw water reservoir

having a capacity of 15000 m3 x 2 is inside the plant boundary.

4. The burners are low Nox type. Also turbines are equipped with DM water firing

arrangements so as to minimize Nox in emission, which is disposed by way of stack.

The effluent is disposed in underground pipeline, to the Tapi river estuary, after

neutralization. Solid waste is treated with soak pits and sewage tanks.

(c) Yes, but detailed logs not maintained

(d) Yes, but detailed logs not maintained

(e) Yes, the NOC from pollution control board is available.

6. Use, production and storage of: Inflammable gases @ 2.54 million m3 / day. No

7. The mode of production is continuous.

8. Claims experience: NIL

9. Public Liability (Industrial Risk) Insurance Policy & Public Liability (Act) Insurance

Policy was taken from Bajaj.

10. As mentioned in the main proposal.

11. Yes, copy of the same is attached.

Enquiry slip for Commercial General Liability (CGL) Policy

M/s. Gujarat State Energy Corporation Ltd.

Name of Insured

M/s. Pipavav O&M Services Pvt. Ltd, O&M Contractor for

Name of Additional Insured

FF shed nos. A/78/3-8, GIDC electronic estate,

ADDRESS: Besides patni computers(iGATE), Sector

POLICY FORM: Claims made basis

RETROACTIVE DATE: 31.3.2003

NATURE OF BUSINESS: Power Generation

Coverage A Bodily injury (fatal/non-fatal), disease and

damage to property of third parties due to

various business exposures such as those

arising from Premises, Products and

Complete Operations.

All costs, fees and expenses incurred in the

defence and settlement of any claim against

the Insured, legal liability for damages to the

third parties in respect of accidental death,

COVER REQUIRED:

bodily injury or disease or loss or damage to

property arising from the Insured’s

performance of activities in the course of

business applicable to claims first made

against the Insured during the policy period.

Coverage C Medical Payments

Coverage D Fire Damage

LIMIT OF LIABILITY: INR 50,00,00,000 Each Claim and in Aggregate

TERRITORY: India

JURISDICTION: Worldwide Including USA /Canada

CLAIMS INFORMATION: NIL Claim

As per terms and conditions, extensions and exclusions of

EXTENSIONS / CLAUSE:

the standard Commercial General Liability Policy Form

including but not limited to the following Extensions/

 Defense cost to be included within the limit of liability.

 Premises & Products/Completed Operations Extension:

Power Generation

 Manufacturing Premises, Hazira Site, Village Mora, Post

Bhatha, SuratHazira Road, Surat –

 Office: FF shed nos. A/78/3-8, GIDC electronic estate,

Besides patni computers(iGATE), Sector

 Fire Damage Extension Clause

 Medical Payments Extension Clause

 Duty & Right to defend terms

 Terrorism Legal Liability (India Only): Full Limits

 Property under Care, Custody and Control Cover

 Travelling Business Executives Worldwide Cover

 Non Owned and Hired Automobile Liability Cover

(Worldwide Cover)

 72 Hours Sudden and Accidental Pollution Cover: Full

 Sudden and accidental seepage, pollution and

contamination liability extension- full limit

 Vendor Extension on an unnamed Basis

 Technical Collaboration Cover

 Incidental Medical Malpractices Cover

 Cross Liability

 Coverage for Alterations, fit outs and minor civil work

by the insured within the Insured premises

 Policy covers Insured’s participation in the

Events/Exhibitions

 Personal and Advertising Injury

 Transportation liability extension cover for inward and

outward goods (rail, road, sea, pipeline, air)- full limit

 Vicarious Liability for injuries to leased/ sub contracted

workers/ employees

 Lift/escalator liability cover- full limit

 Additional Insured; where required by a written

 Waiver of Subrogation; where required by written

 Definition of BI – to include mental anguish, shock or

emotional distress

 Newly Acquired Entity to be cover

 Neon & Advertising Signs

 Guests’ personal effects

 Coverage for Social / Recreational Activities

 Non-manual visits

 Claim series clause

 Non owned and hired automobile liability cover- Sub

limited to 50% of limit of liability(no requirement of

statutory motor policy)

 Liability arising out of travel of insured’s employee

 Contractors and sub-contractors extension

 Mitigation Expenses

 Tenant’s Legal liability

 Valet parking

 Claim Series Clause

 Extended Reporting period

 Non Cancellation Clause – The policy should be non-

cancellable except in case of non-payment of premium

 Effluent discharge for 15 kms from the plant premises

 Policy to be primary & Non Contributory

 Cover for Liability arising out of project related to

construction/ erection/ expansion/ addition/ alteration

/ renovation/ demolition of existing or new property.

 Visitor’s vehicle parking in the premises

 Commercial vehicle or delivery vehicle inside the factory

premises for Bodily injury / Property damage

 This policy will be primary and non-contributory

covering all activities and projects undertaken by the

Insured except where the Insured has opted for project

specific policies under contract mandates and excess

over any valid and collectible claims in Project Specific

 Commercial Vehicle or Delivery Vehicle inside the

 Promotional activity under Company Name and Event –

As per proposal form

Commercial General Liability Application for Insurance

This proposal for insurance will be the basis of any subsequent insurance policy that we

issue to you. It is essential that you answer fully and accurately all of the questions

contained in this proposal, and that you provide us with any and all additional information

relevant to the risk to be insured or our decision as to the acceptance of the risk or the terms

upon which it should be accepted. Your failure to comply with this obligation now may result

in the rejection of your claim and the avoidance of your policy when a claim is made. If you

are in any doubt about the information to be given, please seek the advice and guidance of

your insurance advisor or agent. Liability of the company does not commence until the

proposal has been accepted and the premium has been received in accordance with the

provisions of section 64VB of the insurance act,

1. Proposers desiring only Public Liability coverage are not required to fill Section IV.

2. Proposers desiring only Product Liability coverage are not required to fill Section III.

3. Proposers not desiring extensions under Section V and VI are not required to fill

those Sections.

4. Some sections of the application will not apply to you. Please mark Not Applicable

(N/A) where this is the case.

5. Please attach a separate sheet if space indicated in the proposal from is

Name of the Intermediary:

Section I: General Information

1. Name & Registered Address of the Insured (including names of all subsidiaries or affiliated

companies to be insured): GUJARAT STATE ENERGY GENERATION Ltd.

FF Shed Nos.A/78/3-8,GIDC Electronic Estate,

Nr. Patni Computers (iGATE), Sector

Gandhinagar 382016, Gujarat India

2. Website Address: www.gspcgroup.com

3. Please describe your business operations and activities: Generation of Electricity/power

4. Length of time in business: COMMERCIAL OPERATION SINCE JUNE 2002, HOWEVER

LEGALLY THE COMPANY STARTED BUSINESS IN DEC

5. Does Insured have a subsidiary, affiliate or representative in the USA? If yes, please

provide Name and Addresses of such affiliation: No

6. Name and Registered Address of Additional Insured, if any: Nil

Section II: Insurance Requirement

1. Form: [ √ ] Claims Made [ ] Occurrence Based

2. Limits of Insurance (Amount in Indian Rupees):

Limit of Liability Any One Event In the

General Aggregate Premises and Operations INR INR

Transportation Liability Extension

Products/Completed Operations Limit

Employers Liability

Automobiles Liability (Non Owned/Hired) Extension

3. Policy Period: 16.04.2026 to 15.04.2027

4. Retro date (only for Claims Made Form): 31.03.2003

5. Territory: [√ ] India [ ] Worldwide excluding USA and Canada [ ] Worldwide including

6. Jurisdiction: [ ] India [ ] Worldwide excluding USA and Canada [√ ] Worldwide including

Section III: General Liability

A. Premises and Operations:

1. Please give full description of activities for which cover is required: Power Plants at

Hazira, Surat and Office premises at Gandhinagar.

2. List all premises to be insured in India and overseas:

Location Manufacturing Units Warehouses/Godowns/Shops/Depo

ts/Tank Farms/Offices

No. of locations Nature of Risk No. of locations Nature of Risk

India 1 Power Plants 1 Office

3. Please quantify annual sales turnover of last three years (Amount in Indian Rupees):

Year Premises Operations Transportation*

Projected 500 Cr.

Current 450 Cr.

Last Year 350 Cr

*Pls provide the particulars and mode of transportation of such materials:

4. Please describe in brief surrounding areas and third party property within an approximate

radius of 2 kms from each manufacturing unit:

Manufacturing Unit Industrial Area Agricultural Area Residential Others

North Pl refer RI

East Pl refer RI

South Pl refer RI

West Pl refer RI

5. Please attach Lay-Out Plans and Risk Inspection Report of the manufacturing units

proposed for Insurance: Risk inspection report attached

6. Do you handle or use gases, pressure-storage, explosive, hazardous substances,

asbestos, toxic, radioactive materials and hydrocarbons? If so, please give details of their

quantity, storage, handling and precautions taken: As per risk inspection report

7. Is there a programme for the prevention of fire, explosion incidents? If so, pls indicate:

(a). Type of detection and alarm system: As per risk inspection report

(b). Availability of service organisation in case of such incidents (fire brigade, specialists in

environmental protection and toxicology): As per risk inspection report

(c). Provisions made for supply of energy, water etc. in an emergency: As per risk

inspection report

8. Will you, or your employees, handle or come into contact with any industrial dust of know

harmful nature (e.g. asbestos, silica, cotton), radioactive materials, or any other substance

harmful to health? Nil

9. Extensions required:

(a). Act of God Perils Extension (viz., Earthquake, Storm, Typhoon, Flood and Inundation

(b). 72 Hrs Sudden and Accidental Pollution Extension: Yes

(c). Effluent Discharge Extension: Yes

(i). If yes, what is the length of pipeline from the compound wall of your premises to

the disposal point? As per risk inspection report

B. Travel of Executives:

1. Number of Employees that Travel Overseas Annually: nil

2. Number of travel days per year: nil

3. Purpose of trips: nil

4. Overseas Travel Destinations: nil

C. Advertising Information:

1. What percentage of your annual sales is derived directly from your web site?

2. Do you use comparative advertising in your advertisements? If "Yes", was an

independent organization consulted on how such comparisons were made?

3. Is music used in your advertisements? If "Yes", were all the rights secured prior to use?

4. Is the likeness of famous people used in your advertisements?

5. Have you ever been sued, or have you sued another, for copyright or trademark

6. Besides the information related to your goods, products or services, do you produce any

other publications for external use?

Section IV: Product Liability

Please attach a product brochure or literature or labels or warnings etc. with this form

A. Products / Completed Operations:

1. Please provide a specific description of products manufactured or supplied:

Electricity/Power

2. Please furnish details of products to be considered for insurance:

Products Principal Annual Units End Usage/ Expected Life of

Components Produced Intended Customer the Product

Electricity Electricity

3. Please quantify annual sales turnover of last three years (Amount in Indian Rupees):

Year USA/Canada/Australia UK/Europe Rest of the World India

Projected 500 Cr.

Current 450 Cr.

Last Year 350 Cr

4. Do you provide any services or treatment other than sale of products? If yes, please

describe the nature of services and estimated annual turnover: Nil

5. Please furnish particulars of new products to be marketed during the next 12 months: Nil

6. How long have you been exporting to these countries? N.A.

(a). USA and Canada:

(b). UK/Europe:

(c). Rest of the World:

7. Do you manufacture the complete product? If not, what components/parts are purchased

8. Do you have Research & Development department or Technical Know-

how/Collaboration?

9. Do you retain rights of recovery against manufacturers?

10. Please specify any products, which are inflammable/explosive, dangerous, radioactive,

and harmful to health, poisonous by themselves or any combination with others. If so,

please give full details and state what precautions are taken.

11. Please furnish details and list of products discontinued or recalled or withdrawn during the

last five years.

12. Have your products ever been subject to any enquiry or investigation by any Government

agency, concerning the efficiency/adequacy or labelling, hazardous contents or safety? If

so, please give full details.

13. Are any products manufactured and sold under someone else’s label or trademark? If yes,

please give full details.

14. Does the Insured’s contract of sale agree to hold distributors harmless?

15. Does the Insured require the name of vendor to be included as a Named Insured? If yes,

pls provide the name, address and list of products to be supplied to the vendor:

16. Does the vendor undertake final preparation of product?

B. Quality Control:

1. Give details of checks or examinations or controls including batch control and testing

carried out or effected to discover possible defects or errors in products. Pl answer

2. Do your products comply with standards like ISI or any other Standards? Pl answer

Section V: Employee details

1. Please provide projected details for the next 12 months: Please answer

Description of USA/Canada/ UK/Europe Rest of the India

Employees* Australia World

No. Wage roll No. Wage No. Wage roll No. Wage roll

Clerical Staff 02 Pl answer

Supervisory/Manual 14 Pl answer

Hazardous Activity**

All other employees

* Fees of working directors not to be included.

** Please specify any extra hazardous activities.

Section VI: Non-Owned and Hired Automobile Liability

1. Please provide projected details for the next 12 months: Nil

Country Estimated No. of Type Of Frequency Duration of a

Automobiles Hired Vehicle of Hire Single Hire

USA/Canada/Australia

Rest of the World

Section VII: Loss Information

1. Please enter all claims or losses (regardless of fault and whether or not insured) or any

occurrences or incidents, conditions, defects, circumstances or suspected defects, which

may give rise to a claim; over the last five years under Public Liability and/or Products

Liability (Amount in Indian Rupees): NIL

Date of Description of Claim Date of Amount Amount Claim

Occurrence Claim Paid Reserv Status

Section VII: Prior Insurance

1. Please provide details of expiring policy:

Type Insurer Limit of Liability Premium* Deductible

Public Liability Act The New India 250 Cr. : 500 Cr. 50,75,000/- Nil

Commercial General The New India 50 Cr. : 50 Cr. 50,000/-

Liability (CGL) Assurance Co.

Product Liability nil Nil

*Premium excluding taxes and ERF contribution.

Section VIII: Other Information (Compulsory)

1. PAN CARD Number (10 Digit Number) AABCG1359A

2. Sources of funds : Business

Salary √ Business Investments Other

(Please Specify)

Declaration (in respect of all sections)

I / We do hereby solemnly declare and state that all information given above is true to my /

our knowledge. In case such information is found at any time in future to be false or

misleading or it is found by the insurer that I / We have not disclosed any fact which is

material to the assessment of the risk, the insurance cover granted to me / us shall be

deemed to be null and void and I / We shall not be entitled to any benefit hereunder.

I/we hereby confirm that all premiums have been/will be paid from bonafide sources and no

premiums have been/will be paid out of proceeds of crime related to any of the offence listed

in Prevention of Money Laundering Act,

I understand that the Company has the right to call for documents to establish sources of

The insurance company has right to cancel the insurance contract in case I am/ have been

found guilty by any competent court of law under any of the statutes, directly or indirectly

governing the prevention of money laundering in India.

Authorised Signatory Company Stamp

Position in Your Company:

Date: _____/2026 Place: Gandhinagar

Enquiry slip for Fidelity Guarantee Policy

Sr. Particulars Descriptions

1 Name of the Insured Gujarat State Energy Generation Ltd.

2 Correspondence FF shed nos. A/78/3-8, GIDC electronic estate,

Address Besides patni computers(iGATE), Sector

3 Location of Risks As declared by Insured

4 Occupation 156.1 MW Gas based Combined Cycle Power

351.43 MW Gas based Combined Cycle Power

Plant – the plant was commissioned in March

5 Type of Policy required Fidelity Guarantee Insurance Policy ( Unnamed)

6 Coverage Required Infidelity of Employees including Burglary, Theft,

Housebreaking, Hold Up Robbery, Decoity,

Larceny, Riot, Stike, Malicious Damage

7 Policy Period 16.04.2026 to 15.04.2027

8 Risk to be Covered Infidelity of Designated Employees including

employees deputed to/from Group Companies

and contractual employees.

This cover is in addition to infidelity cover

available under Cash in Transit section of Money

Insurance Policy

9 Persons to be Covered Five (5) Persons authorized to handle Cash

located at Hazira & Gandhinagar.

10 Sum Insured 50,00,000/-

11 Claim Experience NIL

Enquiry slip for Money Insurance (In Transit & in Safe)

Sr. Particulars Descriptions Sum Insured

1 Name of the Gujarat State Energy Corporation Ltd.

2 Correspondence FF shed nos. A/78/3-8, GIDC electronic estate,

Address Besides patni computers(iGATE), Sector

3 Location of Risks Office at Gandhinagar and Plant site, Hazira, Surat.

4 Occupation Power Plant / Office

5 Type of Policy Money Insurance (Money in Transit plus Cash in

6 Description of Risk Company cash being carried by employees whilst in

transit all over India including Burglary, Theft (with or

without forcible entry), Housebreaking, Hold Up

Robbery, Decoity, Larceny, Riot, Stike, Malicious

Damage, Fidelity Guarantee & Terrorism

7 Policy Period 16.04.2026 to 15.04.2027

8 Risk to be covered (A) (i) Money (Cash / Bearer Cheques) in transit Rs.

between Insured’s Office to any Bank / Place of

business for Transaction and vice -versa within

radius of 200 KMs from Insured's Offices

specified above being carried by

employees/contract employees.

(ii) Cash in Custody of Insured's authorized

officers/Employees whilst the Employees are on Sub-Limit

Official tours outside office anywhere in India Rs.2.00 Lacs.

subject to sub-limit of Rs.2 Lacs, this would also

includes cash drawn by employees/contract

employees as advance.

(B) Cash / Bearer Cheques kept in 'Safe' / Locked Rs.

Cupboards/ Counters at the Insured's premises

Risk to be covered:

Cash in transit: All risk including riot, strike and

risk of infidelity of authorized cash carrying

person (employees/contract employees).

Terrorism should be in built cover.

Cash in Safe/counters/cup board: Risk of

housebreaking, burglary, robbery, dacoit, hold up

and extension of theft up to 25% of sum insured.

9 Mode of Transit / By own vehicle / hired vehicle / public transport

In Transit (a) Limit per single carrying

(b) Annual Estimated Transits

Total Estimated Dispatches in Policy Year

Cash in Safe / Counters

11 Policy Subject to (a) Sum Insured for Money in Transit is being

Adjustment declared on fair estimate

(b) Sum Insured (for Transit) will be adjusted both

upward or downward at the end of policy year

12 Claim Experience NIL

Enquiry slip for Electronic Equipment Insurance Policy

Sr. Particulars Descriptions Sum Insured

1 Name of the Gujarat State Energy Corporation Ltd.

2 Correspondence FF shed nos. A/78/3-8, GIDC electronic estate,

Address Besides patni computers(iGATE), Sector

3 Location of Risks Gandhinagar and Hazira, Surat.

4 Type of Policy Electronic & Electrical Equipment Insurance Policy

required (A LIST OF ALL ITEMS ICLUDING THEIR PLATE

DETALS, SERIAL NO. IS ATTACHED HEREWITH)

5 Policy Period 16.04.2026 to 15.04.2027

6 Risk to be Covered All risks including but not limited to any accidental

damages, burglary/theft/house breaking,

electrical/mechanical/electronic breakdown, short

circuit & voltage fluctuations, loss or damage during

transit, risk of fire and allied perils, RSMD, natural

calamities like STFI & earthquake, human error,

falling object & entry of foreign bodies etc.

7 Sum Insured As per attached details list of equipments INR

Replacement Value basis

9 On RIV Basis (No deduction for depreciation in case

Basis of Indemnity

of total loss claims)

10 Claim Experience 2023-24 – NIL

List of Electronic Equipments

Sr. Asset Date of Asset Description No. Sum

No. Code Acquisition of Insured

1 1800138 1/16/2020 HP Desktop AIO-400G4 1

2 1800139 6/2/2020 Logitech BCC950 1

3 1800150 10/15/2022 HP Color Laser Jet Pro MFP M479FDW 1

Enquiry slip for Marine Open Policy for Inland Transit

Sr. Particular Description

1. Name of Insured M/s. Gujarat State Energy Generation Ltd.

2. ADDRESS FF shed nos. A/78/3-8, GIDC electronic estate,

Besides Patni computers (iGATE), Sector

3. TYPE OF POLICY Marine Open Policy

4. POLICY PERIOD From 16.04.2026 to 15.04.2027

5. DESCRIPTION OF THE All type of incoming & outgoing materials including second

RISK hand/used machineries going for repairs/calibration and

coming back to GSEG after repairs/calibration as also spares

and other store items.

6. TYPE OF RISK All Risk including SRCC with Loading & Unloading Cover &

warehouse to warehouse basis (including New/second

7. TRANSIT DETAILS Anywhere in India to Anywhere in India

8. MODE OF TRANSIT Air/Rail/Road/Courier/Post/Multimode

9. PACKING Customary Packing

10. BASIS OF VALUATION CIF + 10%

11. LIMIT PER TRANSIT Rs. 2.00 Crores

12. LIMIT PER LOCATION Rs. 2.00 Crores

13. EXPECTED Rs. 2.00 Crores

14. CLAUSE ATTACHED i) All Risk cover including SRCC with Loading & Unloading

ii) Inland Transit Clause – A

iii) SRCC clause

iv) Warehouse to warehouse basis

v) Seal intact clause

vi) Duty Insurance Clause

15. Special Coverage At the time of claim during transit of second hand/used

material / equipment, Insurer must accept the internal

inspection report of Insured for settlement of claim.

16. EXCESS 0.5% of each & every consignment value Subject to min. Rs.

17. CLAIM EXPERIENCE 2023-24 – NIL

Enquiry slip for Marine Open Policy for Import/Export

Sr. Particular Description

1. Name of Insured M/s. Gujarat State Energy Generation Ltd.

2. ADDRESS FF shed nos. A/78/3-8, GIDC electronic estate,

Besides Patni computers (iGATE), Sector

3. TYPE OF POLICY MARINE OPEN POLICY (CARGO) IMPORT / EXPORT

4. POLICY PERIOD From 16.04.2026 to 15.04.2027

5. DESCRIPTION OF THE All type of incoming & outgoing including second hand/used

RISK machineries going for repairs/calibration and coming back to

GSEG after repairs/calibration as also spares and other store

6. TYPE OF RISK All risks including clauses ICC A / ICC Air / War & SRCC,

ITC-A & inland SRCC for tail end risks / inland transits,

including risk of terrorism, Duty insurance clause, risk of

loading / unloading & warehouse to warehouse basis

(including New/second hand/used)

7. TRANSIT DETAILS Anywhere in world to anywhere in world

8. MODE OF TRANSIT Air/Sea/Rail/Road/Courier/Post

9. PACKING Customary Packing

10. BASIS OF VALUATION CIF + 10%

11. LIMIT PER TRANSIT Rs. 2.00 Crores

12. LIMIT PER LOCATION Rs. 2.00 Crores

13. EXPECTED Rs. 2.00 Crores

14. CLAUSE ATTACHED i) All Risk cover including SRCC with Loading & Unloading

ii) Inland Transit Clause – A

iii) SRCC clause

iv) Warehouse to warehouse basis

v) Seal intact clause

vi) Duty Insurance Clause

15. Special Coverage At the time of claim during transit of second hand/used

material / equipment, Insurer must accept the internal

inspection report of Insured for settlement of claim.

16. EXCESS 0.5% of each & every consignment value Subject to min. Rs.

17. CLAIM EXPERIENCE 2023-24 – NIL

Enquiry slip for All Risk Insurance Policy for Laptops

Sr. Particular Description

1. Name of Insured M/s. Gujarat State Energy Generation Ltd.

2. ADDRESS FF shed nos. A/78/3-8, GIDC electronic estate,

Besides Patni computers (iGATE), Sector

3. TYPE OF POLICY All Risk Insurance Policy for Laptops

4. POLICY PERIOD From 16.04.2026 to 15.04.2027

5. TYPE OF COVERAGE ALL RISKS incl. Electrical & Mechanical

Breakdown, Burglary, Housebreaking, theft with or without

forcible/violent entry into or exit from the premises / threat of

violence, Robbery, Larceny, Terrorism, Accidental damage

6. Geographical Area Worldwide

7. DESCRIPTION OF THE Laptops as per attached details

8. SUM INSURED INR 5,55,000/-

9. Basis of Valuation Replacement Value

10. Basis of Indemnity On RIV Basis (No deduction for depreciation in case of total

11. EXCESS Rs.2500 per claim

12. CLAIM EXPERIENCE 2023-24 – NIL

List of Laptops

Sr. Asset Date of Asset Description No. Sum

No. Code Acquisition of Insured

1 1800152 09/08/2023 DELL Latitude 3420 i3 OJAS OYLS 1

2 1800153 24/08/2023 HP 15 FC 0030AU RYZEN 5 KALPESH OZA 1

3 1800154 14/09/2023 LAPTOP ASUS- E1504FA-NJ541WS JIGNESH 1

4 1800155 25/10/2023 PAVILION 14-EC1019AU HEXA- SHAILESH 1

5 1800156 24/11/2023 LENOVO THINKPAD P16S 12TH GEN-NARENDRA 1

512GB SSD-Amisha

9 1800160 27-05-2025 Asus Creator K3605ZE-RP458WS-I5- 1

Enquiry slip for Standard Fire & Special Perils Policy / Laghu Udhyam

Sr. Particular Description

1. Name of Insured M/s. Gujarat State Energy Generation Ltd.

2. ADDRESS FF shed nos. A/78/3-8, GIDC electronic estate,

Besides Patni computers (iGATE), Sector

3. Type of Policy Standard Fire & Special Perils Policy / Laghu Udhyam

4. POLICY PERIOD From 16.04.2026 to 15.04.2027

5. Locations Hazira, Surat and Gandhinagar

6. Sum Insured Residential quarters & Guest house,

Admin Building, GM Bungalow (Location –

FFF (Location – Gandhinagar & Hazira)

Office Equipments, Computers etc.

(Location–Gandhinagar & Hazira)

7. CLAUSES - Earthquake (Fire & Shock) Clause

- STFI cover inclusion

- Terrorism inclusion

- Reinstatement value clause

- Designation of Property clause

- Local authority clause

- Removal of debris clause (2% of claim amount)

- Architect, Surveyor and Consulting engineer’s Fees clause

(5% of claim amount)

- Held in trust clause

- Fire Fighting clause

- Agreed Bank Clause

8. EXCESS 5% of each & every claim subject to min. Rs. 10,000/-

9. Claim Experience :

2022-23 Premium INR 76,161/- Claims : NIL

Premium INR 25,014/- Claims : INR 21,50,000 (Fire in

2023-24 Guest House)

2024-25 Premium INR 87,316/- Claims : NIL

2025-26 Premium INR1,17,497/- Claims : NIL

Enquiry slip for Special Contingency policy covering Contractor's Plant & Machinery

Sr. Particular Sum Insured

1 Name of Insured Gujarat State Energy Generation Ltd.

2 Correspondence address FF shed nos. A/78/3-8, GIDC electronic

Besides patni computers(iGATE), Sector

3 Policy period 16.04.2026 to 15.04.2027

4 Risk Location Hazira Site, Village Mora, Post Bhatha,

SuratHazira Road, Surat – 394510, Gujarat

Make: ACE 12 X W

5 Items covered SR No. : S433056140

Fork lift Details:

Make: Godrej Boyce Mfd Co. LTD.

Model No. : GX -150 D

Type Of: UPRIGHT –

Capacity: 1500 KG

6 Total Sum Insured Present day replacement value

7 Add-on covers 1.Own Surrounding Property

2.Third Party Liability

AOA : Rs.10 lacs

AOY : Rs.25 lacs

3. Clearence & Removal of Debris

8 Cover required As per the CPM tariff wordings duly

extended to cover machinery breakdown.

9 Claim Experience 2023-24 – NIL Nil

2024-25 – NIL Nil

2025-26 – NIL Nil

Enquiry slip for Directors and Officer’s Liability Policy

Name of Insured GUJARAT STATE ENERGY GENERATION LTD.

Registered Address Block 15, 3rd Floor, UdhyogBhavan, Sector

Gandhinagar-382011

SECTION-A: D&O Individual Liability

Risk to be Covered SECTION-B: Company Reimbursement

SECTION-C: Entity Security & Entity EPLI

Policy Period 16.04.2026 to 15.04.2027

Indemnity Limit INR 10 Cr. Any one occurrence & in aggregate

Retroactive Date 01/04/08

SECTION - A : NIL

Retention SECTION - B : INR 1,00,000/-

SECTION - C : Entity Security :- INR 1,00,000/-

Entity EPLI :- INR 1,00,000/-

Territory India

Jurisdiction Worldwide including USA/Canada

Cover / Add on cover as under :

Entity EPLI Cover

Entity Security Cover

Advancement of Defense Costs

Insured person to include Trustees of any Employment Benefits Plan

Outside Entity Directors & Officer Liability cover

Bilateral Extended Reporting Period

Retired Directors (discovery period) – Lifetime Run-off

Dedicated additional limit of liability for non-executive directors

Emergency Defense Costs

Spouses, Heirs & Representatives cover

Interpretive Counsel costs

Group Control Clause

Self Reporting Expense Coverage

No Insolvency Bankruptcy exclusion

Extradition Cost

Prospectus Exclusion amended to allow cover for private placement

Pre-Investigation Costs

No Money Laundering Exclusion

Assets and liberty costs including prosecution cost, bail bond expenses and – Full Limit

Major Shareholders Exclusion

Auto addition of newly acquired subsidiaries-25% threshold

Civil fines & penalties insurable by law

Legal Representation cost

Public Relations expenses

Automatic Run-off extension – 30 days for any subsidiary ceasing to be a part of the parent

Damage to Reputation (For the Entity and for the D & O)

Management Buy-outs extensions

Cover for Liability under Foreign Corrupt Practices Act, UK Bribery Act or any similar

legislation in any other jurisdiction

Professional Indemnity Exclusion with carve-back providing cover for failure to supervise

Official Investigation and Enquiries Costs

Conduct exclusion to have final Non-appealable language and removal of “written

admission by the Insured” language

Cover for Committee Members formed as per statute who are not Directors or Officers of

the Policyholder – incl POSH

Continuity of Cover

Occupational Health & Safety Defense cost

Mitigation costs

Cover for third parties under EPLI Entity

Environmental Mis-management Cover

Tax liability cover

Primary and Non-contributory

Court Deprived Asset Additional Costs

Kidnap Response Cost

Regulatory crisis response cost

Bodily Injury / Property Damage exclusion with carve back

Cover for Insured vs. Insured claim

PI exclusion with carve back for failure to supervise

Non cancellation of policy except nonpayment of premium

Severability Clause

Disruption compensation expenses

Pollution defense costs and shareholders’ derivative claims covered

Cover for Exemplary and Punitive Damages

Control group clause

Policy non-cancellable expect for non-payment of premium

Policy to be Non-Rescindable

Corporate Manslaughter Cover

Separate Limits for Non-Executive Directors over and above limit of liability

Psychological Support Expenses

Crisis communication cost

Counselling cost

Cover for Employed Lawyers

Policy to be Non-Rescindable (except for non-payment of Premium)

Court Attendance Costs (No deductible to be applied to this coverage)

OSHA Defense costs

Passport Confiscation Expense

Compoundable Offences

Wallersteiner Endorsements

Note : 1. Completed proposal form attached.

2. Please note that all insurers are required to confirm that the product is filed with IRDA.

Please also attach policy wording along with your technical bid.

DIRECTORS & OFFICERS LIABILITY AND COMPANY

REIMBURSEMENT INSURANCE

This is a Proposal Form for a Policy relating only to claims made against the insured

party during the currency of the said Policy.

NB : The Company’s last two Annual Reports together with any subsequent interim

Report should be submitted with this Proposal Form.

Please answer all questions fully (if there is insufficient space use a separate sheet).

Please write clearly and tick boxes as necessary.

1. a. Name of Parent Company : GUJARAT STATE ENERGY GENERATION Ltd.

b. Address of Head Office

FF Shed Nos.A/78/3-8,GIDC Electronic Estate,

Nr. Patni Computers (iGATE), Sector

Gandhinagar 382016, Gujarat India

c. Name of Insured : GUJARAT STATE ENEERGY GENERATION LTD.

2. Please state for how long has the Company

continuously carried on Business

COMMERCIAL OPERATION SINCE JUNE 2002, HOWEVER LEGALLY THE COMPANY

STARTED BUSINESS IN DEC

3. Nature of Business : GENERATION OF ELECTRICITY /POWER FROM

4. During the past five years has :

a. The name of the Parent Company been changed ? NO

b. Any acquisition or merger taken place ? NO

c. Any rights issue taken place ? NO

If ‘Yes’,please give full details :

5. Has the Company publicly revealed that it has under

consideration at the present time any acquisition,

merger or tender offer ? NO

If Yes, please give full details :

6. a. Total number of shares issued

66,15,28,029 equity shares of Rs. 10/ each fully paid up 28th February

b. Total number of shareholders

c. Total number of shares owned by Directors

and Officers (both direct and beneficial) Nil

d. Details of any shareholding in the Company greater than 5%

Shareholding Pattern of

Name of Shareholder

Gujarat State Petroleum Corporation

2 Gujarat Urja Vikas Nigam Limited

3 Gujarat Power Corporation Limited

Gujarat Industries Power Company

Gujarat Industrial Investment Corporation

6 Gujarat State Petronet Limited

7 Krishak Bharti Cooperative Limited

8 State Bank of India

9 GAIL (India) Limited

10 IFCI Limited

7. Market Capitalization : NOT APPLICABLE SINCE THE SHARES OF THE

COMPANY ARE NOT LISTED ON ANY OF THE INDIAN STOCK EXHANGES

EITHER ON ANY FOREIGN STOCK ECHANGE.

8. a. Total assets in North America NOT APPLICABLE.

b. Please list those Subsidiaries in North America that are not wholly

owned, together with the Company’s percentage interest in each

c. Who owns the minority stock

d. Does the Company or any of its Subsidiaries have : NOT APPLICABLE

(i) any stock, share and debentures traded in

North America ? NA

If Yes, on what date the was the last offer made ? ________

Was the offer subject to the United States

Securities Act of 1933 and / or The Securities

Exchange Act of 1934 or any amendments ? NA

(ii) any debt or equity instruments or commercial

paper in North America ? NA

If Yes, what was the most recent effective date ? _______

9. If Directors & Officers Liability Insurance has been carried during the past

three years, please state :

a. Insurer: The New India Assurance Company Limited (expiring insurer)

b. Expiry date of Policy : MIDNIGHT 15-04-2024

c. Indemnity Limit : Rs 10 Crs.

10. Has any previous Policy for Directors & Officers Liability

Insurance and Reimbursement for Directors & Officers Liability

Insurance been cancelled or refused by any Insurer ? NO

If Yes, please give full details:

11. If an insurance similar to that now proposed had

been or were now in effect, would any claim which

has been made, or which is now pending, against

any persons proposed for insurance have fallen

within the scope of such insurance ? NO

If Yes, please give full details:

12. Is any person proposed for insurance cognizant of any wrongful

act which he has reason to suppose might afford valid grounds

for any future claim such as would fall within the scope of the

Proposed insurance ? NO

If Yes, please give full details :

13. Amount of Indemnity required : Rs 10 Crs

14. Coverage required India only

15. Any Overseas Subsidiaries : NOT APPLICABLE

16. Is the Company listed or proposed to be listed on any of the

Stock Exchanges Indian or Foreign? If so, which NOT APPLICABLE/NOT YET.

17. Do you require Employment Practices cover under this policy?

If ‘Yes’ please complete questions 17(a)-(g). These questions form part of the proposal

Employment Practices Liability

Questions 17(a)-(g) are only to be completed if cover is required in respect of

Employment Practices Liability.

17(a). Does the proposer have a Human Resource Department? YES

If ‘Yes’, how may employees are there in this Department? THREE

If ‘No’, how is the function handled? _____________________________

17(b). How many officers and other employees have resigned, been terminated (with or

without cause) or have taken early retirement within the last 24 months?

Resigned Termination Normal Early

Retirement Retirement

17(c). (i) Does the proposer have a written Human Resources

Manual or equivalent written management guidelines? NO

(ii) Please tick box if the guidelines indicate a policy on procedure with respect

to the following events .

Written application for employment Medical examinations

Legally prohibited discrimination Sexual harassment

Compliance with statutes Employee disciplinary actions

Redundancies, termination of Employee out-placement

employment and early retirement

Employee appraisals/ reviews

(iii) Please tick relevant box(es) if decisions regarding these events are always

subject to prior review by the proposer’s Human Resources Department,

Legal Department, or outside Legal Adviser.

Individual decisions are always reviewed by:

Resources Legal

1. Written application for employment

2. Medical examinations

3. Legally prohibited discrimination

4. Sexual harassment

5. Compliance with statutes

6. Employee disciplinary actions

7. Redundancies, termination of

employment and early retirement

8. Employee out-placement services

9. Employee appraisals/ reviews

(iv) Does the proposer have an employee handbook which is

distributed to all employees? Yes No

if ‘Yes’, please attach such handbook to the proposal.

17(d). Is the proposer currently undergoing, or does the proposer

contemplate undergoing during the next 12 months, any

form or any type of company restructuring or closure of office,

plant or store ?

If ‘Yes’, please attach full details. Yes No

17(e). Please provide on a separate attachment full details of all wrongful

termination, discrimination and sexual harassment claims made

against the proposer or any of its directors, officers or employees

during the last five years including amounts of any judgments

or settlements and costs of defence.

If no such claims, please tick None

17(f). Please provide on a separate attachment full details of all

inquiries, investigation, grievance fillings or other

administrative hearings previously filed with or currently

before any local or government agency governing

employer responsibility to employees.

If no such cases, please tick None

17(g). Are there now or have there been any employment practices

claim(s) against the proposer or any of its subsidiaries? Yes No

If ‘Yes’, please give full details.

The undersigned authorised Officer of the Company declares that to the best of his / her

knowledge and belief the statements set forth herein are true. Although the signing of this

Proposal Form does not bind the undersigned, on behalf of the Company, to effect

Insurance, the Undersigned, on behalf of the Company, agrees that this Form and the said

statements shall be the basis of the Contract should a Policy be issued and this Form will

be attached to and become part of the policy.

NB Should the above signed determine that further enquiry of the persons to be

insured may be necessary in order to provide reasonably reliable answers to

questions 11 and / or 12, he may submit to the Insurers supplementary advices

conveying any pertinent information or changes so derived and the Insurers may

thereupon alter any indications previously given accordingly.

In the absence of subsequent advises to the Insurers to the contrary it will be

assumed by the Insurers that there is no additional pertinent information or changes.

ADDITIONAL INFORMATION REQUIRED

1. List of Subsidiary Companies with their country of incorporation, turnovers,

shareholding patterns and brief write-up on activities. – Not applicable

2. Brief write-up on the Group's overall Business and expansion plans – Annual

Report Attached

3. Initial Public Offer details (size, no. of shares etc.) , if going for any listings.- Not

4. Annual Reports and Accounts - last 2 years

5. The last Interim Statement (if applicable).

Enquiry slip for Workmen Compensation Policy

Sr. Particular Description

1. Name of Insured M/s. Gujarat State Energy Generation Ltd.

2. FF shed nos. A/78/3-8, GIDC electronic estate,

Besides patni computers(iGATE), Sector

3. Period of Insurance 16.04.2026 to 15.04.2027

4. Risk Location Plant at Hazira, Surat and Office at Gandhinagar

5. Maintenance of Power Plants including civil works, Gardening

Particulars of Work

and such other works

6. Legal Liability as per Workmen’s Compensation Act,

and subsequent amendments of the said Act prior to the date

Scope of Cover of the issue of the policy

Fatal Accidents Act

employees/workers

8. Up to INR 15,000 INR

Above INR 15,000 INR

Total Wages INR

9. Medical expenses

10. Type of Workers All employees & Workers as defined in WC Act

Claim experience 2025-26 – NIL

Enquiry slip for Commercial Crime Policy

Gujarat State Energy Generation Ltd

Including all subsidiary companies and related bodies

corporate including those acquired or incorporated

NAME OF INSURED:

during the Period of Insurance and other entities for

which the insured has assumed an obligation to arrange

Insurance for their respective rights, titles and interests.

Gujarat State Energy Generation Limited,

A/78/3-8, GIDC Electronic Estate, Near Patni

Computers (iGATE), Sector 25, Gandhinagar

382016, Gujarat, India

POLICY PERIOD: 16.04.2026 to 15.04.2027

POLICY FORM: Commercial Crime Insurance Form

RETROACTIVE DATE: 16.4.2019

Power Generation

NATURE OF BUSINESS: http://gspcgroup.com/GSEG/

First Party and Third-Party Crime Coverage

Employee Dishonesty,

Any Kind of Theft – Please clarify whether Stocks are

covered or not.

On Premises cover

Computer Fraud/ Cyber Crime/ Financial Loss due to IT

Funds transfer fraud

COVERAGE REQUIRED

Fraudulent Alteration

EXTENSIONS / CLAUSE:

Fraudulent Communication Cover

Wider Definition of Employees

Ex- Employee Coverage for 60 days post termination of

Counterfeit Currency /Documents coverage/ Credit

Expectation Damages

Discovery Period- 90 days, 365 days at Additional

Social Engineering Fraud/ Fake Presidents Fraud

Stock, Money & Securities: Damage, Destruction or

Care, Custody and Control

Automatic Inclusion of New Entities -35%

Non-cancellation Clause

Employee Benefit Plans at no deductible

Claim Series Clause

Coverage for Insured Legal Liability and Legal Expenses

Waiver of Principal Intent.

Internal and External Extortion

No Major Shareholders’ Exclusion

Additional Insured Cover wherever required by Contract.

Continuity of Covers

Expenses to be covered as follows:

 Additional Costs

 Mitigation Costs

 Fees and Expenses

 Data Reconstitution Costs

 Loss Investigation Costs

 Court Attendance Costs

 Interest receivable and payable

 Forensic / Investigative Costs

Wide definition of Employee including consultants,

seconded employees, outsourced employees, trustee,

fiduciary, administrator or officer of any plan

LIMIT OF LIABILITY: INR 5.00 Crore Each Claim and in Aggregate

India : INR 5 Lakh

ROW : INR 7.5 Lakh

Worldwide including USA/Canada

CLAIMS INFORMATION: As Per Form

UNDERWRITING INFO : As per Proposal form

The information provided to you in this slip/ submission and any related annexures,

electronic files or any correspondence relating to this business transaction is strictly

confidential and is expressly shared for the sole purpose of your evaluating the risk and

providing us with your quote.

The information may not be disclosed in any manner to other parties or used for any

purpose other than providing us with your Quote. Unison reserves the right to take any

legal action it may consider appropriate in case breach of this Confidentiality Clause.

This confidentiality obligation shall survive irrespective of whether the terms offered are

accepted or not and whether the business is placed with you.

GENERAL INSTRUCTIONS TO TENDERERS

1) This tender, shall be duly signed and stamped on each page and sent in a

2) The tender shall be addressed to: Chief Financial Officer, and may be sent

either by COURIER with adequate allowance for any delivery delays or by

HAND DELIVERY before the closing date/time. The tenders received after

the Due Date and time of Submission are liable to be rejected.

3) The Underwriters shall closely peruse all the clauses and specifications

indicated in the Tender Documents before quoting. Only such clarifications

that are issued after discussions on technical deviations and which affect the

tender stipulations in a substantial manner will be discussed during pre-bid

meeting if required.

4) Underwriters must fill-up all the schedules and furnish all the required

information, as per the instructions given in various sections of the tender

specification, failing which tender is liable to be rejected.

5) The bidders shall quote the rates both in English words as well as in Figures.

In case of difference in rates between words and figures, THE LESSER OF

THE TWO shall be treated as valid rate. In case of calculation errors,

GSEG’s decision will be final and binding on the bidder and may even lead

to rejection of the tender.

6) Clearly indicate Bid Participation / Capacity in the technical bid. Bid indicating

participation / capacity less than 60% shall not be accepted. However the

bidder shall have to accept the sharing pattern as may be decided by GSEG

at its sole discretion.

7) All corrections and insertions shall be duly counter-signed by the authorized

signatory of the underwriter.

8) The underwriter will not change the dealing office without prior approval of

9) THE FOLLOWING DOCUMENTS TO BE SUBMITTED BY THE

SUCCESSFUL BIDDER at the time issue of LOI:

i) Original tender document to be signed and returned as a token of

acceptance of tender condition subject to technical deviation mutually

agreed between GSEG and successful bidder.

ii) Sets of documents needed for settlement of each type of claim.

10. DOCUMENTS TO BE SUBMITTED WITH THE TECHNICAL BID:

i) Deviation statement as per Proforma enclosed as Annexure-A (of

ii) Declaration sheet as per Performa enclosed at Annexure-B (of

iii) Certificate of Declaration as Annexure-C (of Volume-I).

iv) Declaration of IAR policies being serviced, re-insurance

arrangements and audited data regarding Solvency margin as per

Annexures–C-1, C-2, C-3(of Volume-I) respectively.

iv) Suggestions for risk improvement / premium reduction. Annexure-D

v) Declaration of Compliance for premium calculation as per Annexure-

E (of Volume-I)

vi) Service parameters should be strictly as per the Draft MOU attached

-Annexure –F (of Volume –I) which has to be agreed in Toto.

11) VALIDITY OF OFFER:

THE OFFER SUBMITTED BY THE UNDERWRITER SHALL BE KEPT

VALID FOR ACCEPTANCE FOR A PERIOD OF THREE MONTHS FROM

THE DATE OF OPENING OF TENDER. In case we call the bidders for

negotiations, such negotiations shall not amount to cancellation or withdrawal

of the original offer, which shall be binding on the bidders unless otherwise

12. FORMATION OF CONTRACT

All the documents issued by GSEG as well as accepted by it upto the stage

of premium payment will form part of the contract. Some of the examples

are: Tender Document, Technical / Price Bid, MOM, MOU, Deviation

13. GSEG will not be bound by any Power of Attorney granted by the Underwriter

or by changes in the composition of the firm made subsequent to the

execution of the contract. GSEG may however, recognize such Power of

Attorney and changes at its discretion and after proper legal advice, the cost of

which will be chargeable to the Underwriter concerned.

14. Declaration / confirmation as to Re-insurance arrangement shall be done by Insurer.

15. If the Underwriter gives wrong information in his tender, GSEG reserves the right to

reject such tender at any stage or to cancel the contract, if awarded. The MOU which

will be evolved out of the documents exchanged is from tender to expression of intent

will be required to be signed within 3 days of LOI. The Policy document complete

with endorsement etc. will be made available to the office within a week of issuance

of cheque, failing which, the insured reserves the right to recover interest at the bank

rate on the delayed cash collection, as submission of insurance policy is pre-

requisite of the payment by the customer.

16. Canvassing in any form in connection with the tender is strictly prohibited and the

tenders submitted by the Underwriter who resorts to canvassing are liable to be

17. Specific commitment / undertaking on the following is required to be submitted along

with Technical Bid as per the Annexure-II(of Volume-2) of the price bid

“We state that the rates of premium and the various discounts offered by us

in our offer for GSEG’s Power Plants are strictly as applicable as per IRDA

Guidelines. We have indicated separately all necessary taxes, cess + levies,

which are required to be collected from GSEG. The insurance premium

quoted by us is full and final and there will be no recovery on that account.

We further undertake that in case of any claim under the policy, the recovery

of premium from GSEG and the applicability of discount and GST etc. will not

be an impediment nor will it jeopardize in any manner in the settlement of

claim, if any, lodged by GSEG”.

18. STEPS IN THE PROCESS OF THE TENDER BY GSEG:

18.1 Technical Qualification: As a first step of evaluation process,

technical bid of all the bidders shall be opened and scrutinized with a

view to determine technical acceptability of the offers and to check &

confirm submission of the required documents. If required, bidders

shall be called for technical discussions.

18.2 Submission of clarifications, if applicable.

18.3 Opening of price bids.

18.4 Price Bid Evaluation:

The Price Bid will be opened based on the technical bid evaluation and on

assessing the pre-qualification criteria and GSEG will not give any reasons

for choosing / not choosing particular bidder(s).

19. RIGHTS OF GSEG:

GSEG reserves to itself the following rights in respect of this proposal /

contract without entitling the insurer to any compensation.

19.1 To short close / terminate the policy after due notice in the event of

claims not getting settled in time / service not being rendered to

GSEG’s satisfaction and recover the losses occurred before and

arising out of termination.

19.2 To get the policy serviced through another agency at the risk and cost

of the underwriter in the event of poor servicing of the policy.

19.3 To terminate the policy after due notice and recover the losses

sustained in getting the balance period of risk coverage through other

19.4 If the successful bidder fails to commence the policy within the

stipulated time, GSEG, at its sole discretion, will have the right to

cancel the contract and seek compensation for all the direct and

consequential costs of cancellation.

19.5 All the works shall be carried out under the directions and to the

satisfaction of GSEG.

19.6 If the services of the division / branch of the Insurance Company

selected are found to be deficient, GSEG reserves the right to change

the division / branch of insurance company during the cover period.

20. GSEG shall be issuing enquiry to insurance company and all dealings prior

to award and after award policy will be only with Underwriter directly. No

broker / agent will be allowed.

21) ARBITRATION

If GSEG and Underwriter fail to agree on certain issues such as tenability

and quantum of the matter, the same will be referred to arbitrator under the

provisions of the Arbitration and Recommendation Act. The place for

Arbitration shall be at Gandhinagar.

22) PROCEDURE FOR CLAIM SETTLEMENT

22.1 The Underwriter will put in place such a claim procedure that is

positive, prompt, transparent and targets for ‘zero’ pendency status.

Towards this end the Underwriter will endeavor to educate the GSEG

officials w.r.t procedures and documentation requirement. A joint

meeting between potential surveyors, Underwriters and GSEG will be

organized at Hazira Power Plant site on a date suggested by GSEG

for discussing this matter. The Underwriter will take a fortnightly

report from the surveyor to ensure the success of the procedure and

keep GSEG posted.

22.2 The Insurer shall immediately depute or authorize the Insured to call

a surveyor(s) from the approved panel, but not later than 48 hours of

receipt of intimation from the insured in exceptional cases.

22.3 The surveyor shall call for all the documents in support of claim in one

go but not in a piecemeal manner for expeditious settlement of claim,

preferably at the time of visit or within 3 days thereafter.

If for any reasons GSEG does not respond / provide all the particulars

required by the surveyor, the insurer or surveyor as the case may be

shall remind within 2 weeks in writing.

22.4 The surveyor shall send his findings to the Insurer within 15 days of

receipt of documents.

22.5 In case the claim is not found tenable or not settled for the claimed

amount, he will seek the comments of GSEG within a week of

receiving the survey report. The final view shall be taken within

days of receipt of reply.

In normal circumstances, the claim has to be settled within 30 days

from the date of first information, net of the time taken by GSEG for

responding to surveyor’s / Underwriter’s comments.

23) EXCESS / DEDUCTIBLE FRANCHISE

23.1 Mandatory and minimum excess for each section / Excess as chosen by

23.2 Bidder to consider all other feasible combinations of various discounts for

each section and benefits thereof.

24) INTEREST ON DELAYED PAYMENTS

24.1 The Underwriter shall settle all claims within 30 days from the date of

submission of Final Claim Bill accompanied by necessary documents. List

of such necessary documents shall be furnished for each type of claim by the

Underwriter at the time of start of the Policy. Any delay in settlement of claims

beyond 30 days, shall attract a penal interest at TWO percent above the

prevailing SBI Base rate of interest for the period of delay (Ref. Insurance

Regulatory and Development Authority Notification dated 26th April, 2002).

25) ON-ACCOUNT PAYMENTS AGAINST CLAIMS

24.1 In case of net claims exceeding Rs.50 Lakh, the Underwriter shall promptly

make an on-account payment of 75% of the claimed amount within one week

without waiting for completion of formalities once the claim is established. In

other words, on account payment will become due on establishment of prima

facie admissibility of the claim which will be worked out on the basis of

estimated value without asking for quotations etc…

25.2 The balance amount of the claim shall be settled and paid within 14 days after

submission of all relevant documents.

The insured will give required relevant document to the extent possible for

settlement of claims. However, in case of non-availability of required

documents Insurer will settle the claims based on the market information and

engineering estimates. In short the emphasis should be on the spirit of

indemnity and not on procedures.

26) THEFT / PILFERAGE CLAIMS

26.1 The security / watch and ward arrangement in the plant is in the purview /

scope of the owner who has engaged his own security arrangements for the

watch and ward of the project. Theft / pilferage are reported to them as per

procedure. As for filing report with police is concerned, sending information

to the police by registered post will be considered adequate in case FIR can

not be lodged with Police. In case the final report cannot be obtained,

indemnity bond will be furnished which shall be acceptable to the

Underwriter. However, the complaint so lodged with the security agency for

such stolen items will be with brief description of the item and other details

such as weight, value and exact time of notice of loss where available shall

form the basis for settlement of claims by the Underwriter. No additional

documents shall be insisted for by the Underwriter to settle the claims.

27) DEPUTATION OF SURVEYORS

27.1 Within a reasonable time from the commencement of Policy the Underwriter

shall discuss and furnish the list of surveyors containing their relevant details.

Normally surveyors from that list only shall be deputed. GSEG reserves the

right to review the list and can ask the Underwriter not to depute a particular

surveyor in case GSEG management feels that his deputation may

jeopardize company’s interest.

27.2 The Underwriter shall depute the surveyor maximum within 2 working days

on receipt of the information of the occurrence of the accident. In the event

of any delay in deputation of surveyor, GSEG reserves the right to engage

any other surveyor from panel at the cost of the Underwriter. The underwriter

shall not insist for submission of estimate of the damages as a pre-requisite

for deputing the surveyor.

27.3 In case the surveyor causes undue delay, the Underwriter will have to

effectively and promptly intervene to expedite the process or to change the

surveyor. In case surveyor loses the documents or does not pass them to

the Underwriter for any reason, photocopy will be asked from GSEG and the

same shall be acceptable as if these are original papers.

27.4 The Underwriter shall provide a copy of the survey report to GSEG if and

when asked for. The surveyor shall be advised by the Underwriter to directly

submit his report on the causes and ways to avoid losses in future. However,

GSEG will not pay any remuneration on this behalf. Potential reduction of

claim due to such analysis will help to reduce the future claims.

27.5 Insurers will agree to following panel of surveyors. No other surveyors will

be appointed by insurers :

1. M/s. Mehta & Padamsey Insurance Surveyors Pvt.Ltd.

2. M/s. Bhatawadekar & Company

3. M/s. Proclaim Insurance Surveyors

28) PROGRESS REPORTING AND REVIEW

28.1 Periodic progress review meetings will be held at Hazira Plant

Site/Gandhinagar Office during which the status of all the pending claims will

be discussed and action plan drawn to liquidate the pending claims. The

Underwriter shall depute their senior representative to attend such meetings,

who are empowered to take spot decisions in respect of settlement of claims,

whenever feasible. They shall also constantly update / review their work

program to match the liquidation of pending claims vis-à-vis scheduled site /

contract closing program.

DEVIATION STATEMENT

(Pl. strike off the clause which is not applicable and tick the other)

1) THIS IS TO DECLARE THAT WE DO NOT HAVE ANY DEVIATIONS IN THE

STIPULATIONS OF YOUR TENDER AND ACCORDINGLY ACCEPT ALL THE

STIPULATIONS WITHOUT ANY RESERVATIONS WHATSOEVER.

2) WE HAVE TAKEN FOLLOWING DEVIATIONS IN THE COVERAGE.

Sr. No Particulars

3) DETAILS OF FREE ADD ON COVERS OVER AND ABOVE SPECIFIED

Authorized representative’s signature with name and address and office seal

DECLARATION SHEET

We, ……………………………………………………..declare that all the information and data

furnished by us with regard to this Tender Specification No. GSEG:FIN: 001 are true and

complete to the best of our knowledge. We have gone through the specifications, conditions

and stipulations in detail and agree to comply with the requirements and intent of

specification, including reinsurance arrangements.

We, further certify that we are the duly authorized representative of the under mentioned

tenderer and a valid power of attorney to this effect, if required, will be submitted.

Authorized representative’s signature with name and address

CERTIFICATE OF DECLARATION FOR CONFIRMATION OF IRDA / TAC

We, ……………………………………………. Hereby certify on behalf of ……………………

that our offer no………………………………….. dated…………………….. against tender

specification no………………….. does not breach any Insurance Act / IRDA guidelines. We

further confirm that in the event of disclosure at a later stage that the same is in breach and

GSEG is put to any disadvantage or face cancellation of the Policy or any claim becomes

substandard / untenable, the whole liabilities arising out of this shall rest wholly on us and

will bear all consequences thereof.

Authorized representative’s signature with name and address and office seal

Details of IAR policies Serviced as Lead Insurers

Name of Insurer:

Sr. Year Name of Client Risk Location Material Damage

No. Sum Insured (Rs.)

We hereby declare and confirm that the details of IAR Policy / Policies furnished above are

true and correct.

Authorized representative’s signature with name and address and office seal

Declaration on our present Reinsurance Arrangement

Name of Insurer:

Sr. No. Name of Reinsurer Credit Rating / Rating Agency

We hereby declare and confirm that the details provided of the reinsurers are the same as

filed by us with IRDA as per stipulated Regulations.

Authorized representative’s signature with name and address and office seal

Declaration regarding Solvency Margin

We hereby declare and confirm that our Solvency Margin for the previous 3 years is as

Authorized representative’s signature with name and address and office seal

We prefer to have list of specific suggestions / action plan from you for reduction of

Suggestion Action Plan

No. implication (Rs.)

Name of insurance company:

INSURER TO CONFIRM ONLY COMPLIANCE OF SUBMISSION OF PREMIUM

CALCULATION IN PRICE BID COVERING ALL THE COVERAGES WITH ADD ON

COVERS MENTIONED HERE BELOW. PLEASE DO NOT MENTION ANY PRICE

RELATED INFORMATION IN THIS FORM.

(ref General Condition (g).

TECHNICAL BID BY M/S…………….

Confirmation of

PREMIUM RATE ANALYSIS premium. (No premium

should be mentioned in

PLEASE MENTION YOUR BID PARTICIPATION /

CAPACITY FOR PROPERTY COVER

1.0 MATERIAL DAMAGE YES No

1.ALL RISK SECTION

2. MACHINERY BREAKDOWN

2.0 BUSINESS INTERRUPTION

1. FLOP BI (12 months IP)

2. MACHINERY LOSS OF PROFIT (12 months IP)

Claims Loading, if any. If yes, pl mention the % and

mention whether it is on Basic rate/on overall premium

MATERIAL DAMAGE:

1. EARTHQUAKE (FIRE & SHOCK) & STFI COVER

2. AGREED BANK CLAUSE

3. DESIGNATION OF PROPERTY CLAUSE

4. LOCAL AUTHORITY CLAUSE

5. ARCHITECTS, SURVEYORS & CONSULTING

ENGINEERS FEES CLAUSE (IN EXCESS OF 3%)

6. REMOVAL OF DEBRIS CLAUSE (IN EXCESS OF 1%)

7. OMISSION TO INSURE ADDITIONS, ALTERATIONS

OR EXTENSIONS ETC.

8. START-UP & SHUT DOWN EXPENSES

9. PROPERTIES / GOODS HELD IN TRUST.

10. 72 HRS CLAUSE

11. ON ACCOUNT PAYMENT CLAUSE

12. NOMINATED LOSS ADJUSTER CLAUSE

13. AUTOMATIC REINSTATEMENT CLAUSE

14. FIRE FIGHTING EXPENSES

15. LOSS MINIMIZATION EXPENSES

16. REINSTATEMENT VALUE CLAUSE

17. MINOR WORKS CLAUSE

18. EXPEDITING EXPENSES CLAUSE

19. IMMEDIATE REPAIRS CLAUSE

20. CAPITAL ADDITION CLAUSE

21. NOMINATED LOSS ADJUSTER CLAUSE

22. Escalation clause

23. Impact Damage Clause

24. Involuntary Betterment Clause

BUSINESS INTERRUPTION

1. SUPPLIER EXTENSION UNDER FLOP

2. UTILITY EXTENSION UNDER FLOP

3. CUSTOMER EXTENSION UNDER FLOP

4. DEPARTMENTAL CLAUSE

5. ALTERNATIVE BASIS CLAUSE

6.DENIAL OF ACCESS CLAUSE

7.AUDITORS FEES & CLAIM PREPARATION EXPENSES

8.SUM INSURED ADJUSTMENT CLAUSE

9.FIX COST REIMBURSEMENT CLAUSE

10.LOCAL AUTHORITY CLAUSE

4.0 ADD-ON COVERS

MATERIAL DAMAGE

1. Earthquake (Fire & Shock) TSI

3. Escalation clause 5% of BMA

4. Omission to insure additions, alterations or 5% of BMA

extensions etc. Sum Insured

5. Removal of Debris (in excess of 1% of claim INR 5 Crore

6. Architect, Surveyors & Consulting Engineers INR 5 Crore

Fees (In excess of 3%)

7. Involuntary Betterment/Technological INR 5 Crore

Advancements/Obsolete Equipment Clause

8. Start-up & Shut-down Exp. INR 10 Crore

9. Fire Fighting Expenses At actual

10. Loss minimization expenses INR 5 Crore

11. Minor Work INR 5 Crore

12. Expediting expenses INR 5 Crore

13. Immediate repairs INR 5 Crore

14. Impact Damage FULL Sum

15. Preparation of Lost records/Computer INR 5 Crore

Records, Valuable Papers/Plans & Records

Clause/Cost of Re-writing records

16. Additional Customs Duty INR 5 Crore

17. Demolition and Increased Cost of INR 5 Crore

18. Property in Course of Construction/Erection INR 5 Crore

19. Undamaged Foundations INR 5 Crore

20. Obsolete Spare Parts INR 5 Crore

21. Sprinkler Up-Grading Costs INR 5 Crore

22. Deliberate Damage INR 5 Crore

23. Temporary Removal of Property / Stocks INR 5 Crore

24. Landscaping cost INR 5 Crore

BUISNESS INTERRUPTION

1. SUPPLIER’S EXTENSION COVER

2. UTILITY EXTESNION COVER

3. CUSTOMER’S EXTENSION COVER

4. AUDITOR FEES & CLAIM PREPARATON EXPENSES INR 5 Crore

5. DENIAL OF ACCESS

5.0 Material Damage Deductible

6.0 TIME EXCESS

Standalone Terrorism Policy – Limit of liability Rs. 2,050 Cr

Public Liability Act (cover as per slip attached)

Commercial General Liability Insurance Policy (cover as per

Fidelity Guarantee (cover as per slip attached)

Money Insurance (cover as per slip attached)

Electric Equipment Insurance (cover as per slip attached)

Marine Open Policy for Inland Transit (cover as per slip

Marine Open Policy for Import/Export (cover as per slip

All Risk Policy for Laptop (cover as per slip attached)

Directors & Officer Liability Policy (cover as per slip

Fire Policy for Building (cover as per slip attached)

Contractors Plant & Machinery (cover as per slip attached)

Workmen Compensation (Cover as per slip attached)

Commercial Crime Policy (Cover as per slip attached)

For ______________________ Insurance Co.Ltd.

Authorised signatory

To be executed on Rs 100 stamp paper.

Insurance Services Contract between GSEG Ltd and Insurance Company Ltd .

Consequent upon enquiry floated by Gujarat State Energy Generation Ltd.(GSEG), for

various operational policies in respect of our 156.1 MW and 351.43 MW Combined Cycle

Power Plants at Hazira and for establishment of good understanding and to ensure quality

& deficiency free service and furthermore the provision of efficient and satisfactory

services by the underwriters, this contract has been signed between M/s

__________________ (Name of Insurer) having their office

Ahmedabad ( hereinafter referred as underwriter in single and / or underwriters in plural

or the leader of the consortium ) and Gujarat State Energy Generation Ltd (GSEG) having

its office at FF shed nos. A/78/3-8, GIDC electronic estate, Besides Patni

computers(iGATE), Sector 25, Gandhinagar - 382016. The Parties, hereby, agree as

A. Documentation

1. The underwriter will issue the Premium Receipt and the Cover note for the desired

coverage, immediately on receipt of the necessary premium cheque and / or Bank

Guarantee by them as the case may be.

2. The corresponding policy documents will be issued by the underwriter to the GSEG

within 7 working days of the receipt of the premium cheque or /Bank Guarantee.

3. Any amendment or endorsement in the policies shall be confirmed by issuing

amendment /endorsement within 1 working days of the receipt of the necessary

request / information, if needed the necessary premium from GSEG. In case of

emergency GSEG has right to ask for the amendment / endorsement on

Telephone and the same shall be acted upon by the underwriter, however later on

written request should be sent to Underwriter.

1. A panel of approved Surveyors, to be utilized in case of all losses/damages for

which necessary claims are to be lodged, shall be finalised by mutual discussions

within 15 days of signing of this agreement or such date as may be mutually be

2. All claims lodged on the underwriter shall be promptly settled as per the following

a) In respect of claims above Rs.50 Lakhs, "On Account Payment" of 75% of

the claimed amount shall be made by the underwriter without any demur

within 15 days of the occurrence of the insured peril. For the sake of brevity

it is clarified that documents required to be obtained from govt. agencies

like FIR, Final Report from Police authorities and Fire Brigade Report etc.

shall not be binding for release of On Account Payment.

b) Rest 25% claim amount (Final payment of the claim) shall be made within

5 days of receipt of Final Survey Report and all necessary supporting

documents/information from GSEG.

c) In the event of a loss, the underwriter shall appoint Surveyor/ Loss Adjustor

immediately on the receipt of notification, however online intimation or

intimation on Phone by GSEG to the authorized person of the underwriter

shall be construed as valid intimation under the policies. Furthermore, a

dedicated person from the claim department of the Underwriter shall be

allocated to GSEG and his telephone, fax and ID shall be intimated.

3. GSEG has been authorised for Self Survey in respect of claims with estimated loss

upto amount of Rs. 20000/- only or such higher amount as mentioned in Insurance

Act 1938 or rule made there under from time to time.

4. The underwriter has agreed to provide to GSEG with a comprehensive procedure

and documents to be followed in case of claims, within 30 days of commencement

of insurance of GSEG’s risk.

5. It is agreed that _______________is the leader of the consortium and other

members of the consortium have agreed to the revised terms of Insurance. The

Co shall deal with the leader only in all matters. However, in case of repudiation of

any claim by leader, the claim shall stand repudiated if & only if the co-leader &

other members of the consortium has also agreed on repudiation in writing.

6. In case of any MD /LOP claim made by GSEG in pursuance of its IAR or other

policies as taken in pursuance to GSEG’s invitation of Tender Document dated

_________ including any modification thereof, if any, the liability shall be joint &

several for each of the members of the Consortium. Furthermore, GSEG has right

& option, at its discretion, to make claim separately with each of the members of

the consortium in proportion to their share.

C. Others/ Miscellaneous.

1. The underwriters confirm that the premium quoted is final and are as per the

internally / Board approved guidelines or underwriting policy and that there is no

violation of any or other mandatory guidelines/rules. Any upward revision, other

than due to tariff revision and govt. levies and duties, in the premium, if found at

later date, will be borne by the underwriter. The benefit due to downward revision,

due to tariff revision and Govt. levies, in the premium shall be passed on to M/s.

2. The Leader has appointed following persons to service directly GSEG account in

respect of all matters including underwriting or / and claim. Their present address

and contact Nos. are as under ;

3. The underwriters agree upon binding of the contract, a RISK INSPECTION will be

carried out during the policy period and required RI measures, if any, will be

brought to notice of the GSEG management for their perusal and implementation.

4. The underwriter has further agreed to hold one seminar/training during the policy

period exclusively for GSEG employees to update them with latest trends in

5. GSEG shall be dealing/interacting directly with the leader of the consortium namely

M/s _____________ for all relating matters and the leader shall, in turn, interact,

with the co insurers, if any. ______________ shall be responsible for all acts/duties

as there is/were single insurance company providing insurance cover to GSEG.

In case of any dispute with co-insurers, M/s ______________ shall be responsible

for settlement of full claim amount of GSEG.

6. In case of de-tariffing in wording of IAR or any policy becoming applicable for any

or all policies on or before expiry of current policies, underwriter herewith agrees

to cancel the existing policies upon request of the GSEG and refund the pro-rata

premium (on the basis of no. of days only) to GSEG. GSEG shall be then at liberty

to invite fresh quotes for the insurance and place the insurance to any company/ies

that it deems fit.

7. The underwriter unequivocally agrees that during the year / tenure of Policy, GSEG

can increase or decrease the Sum Insured of any of the assets / liability etc of any

of the policies in order to make it match with market conditions and for that only

pro-rata rate shall be applicable not short period rates.

8. The underwriter unequivocally agrees that there may be some spill over of sum

insured amount from one part of the assets into another part of the same asset or

of some other asset but in the same category then no underinsurance shall be

applicable. Which means excess of some assets, if done by GSEG on account of

its judgment, may be set off against the short value of other assets.

9. The Underwriter agrees to refund one-third of the premium paid on account of

Business Interruption if the audited Annual Gross Profit ending 31-03-2026

happens to be lower than what has been taken in the Policy. It also agrees to

refund the pro rata premium of Industrial Liability if the audited Turn Over for 31-

03-2026 happens to be lower than what has been taken in the said Policy.

10. It is agreed that the Surveyor shall be appointed with the mutual consent of GSEG

and the leader insurance company.

D. Breach of the contract.

In case of breach or violation of any of the provisions of this agreement/ contract,

the underwriter shall have to pay penalty of such amount as may have suffered by

GSEG whether actual or notional and furthermore it shall have such rights as may

be deemed fit by GSEG.

In addition to clause D, underwriter shall also indemnify GSEG of all actual or

notional or consequential losses which GSEG may suffer as a result of breach of

underwriters of the underwriting policy /guidelines/ directives / rules by underwriter.

This means that the underwriter shall make good all losses, actual or notional or

consequential, to GSEG in the event of breach of any of the guidelines

This contract shall be valid till expiry of such time as are policies meant for however

it shall be extended till the claim, if any, under the policies are settled even if

stretched beyond the date of expiry of the policies.

Gujarat State Energy Generation Ltd __________________________

Designation: Designation:

Accepted, agreed and noted. Signature.

Other Consortium Members.

GUJARAT STATE ENERGY GENERATION LIMITED

TENDER SPECIFICATION

156.1 MW & 351.43 MW HAZIRA POWER PLANTS

GUJARAT STATE ENERGY GENERATION LIMITED

LIST OF ANNEXURES

Sr. Particulars Annexure

1. Letter of Undertaking to be submitted with the offer by Insurance I

Company on the Company's letter head.

2. Format for submitting premium quote. II

LETTER OF UNDERTAKING TO BE SUBMITTED WITH THE OFFER BY INSURANCE

COMPANY ON THE COMPANY'S LETTER HEAD

We state that the rates of premium and the various discounts offered/loading charged by us in our

offer for GSEG is full & final & there will not be any demand from us for additional premium during

the year. We have included all necessary taxes, cess + levies which are required to be collected

from the Insured. We further undertake that in case of any claim under the Policy, the recovery of

premium from the insured and the applicability of discount and GST will not be an impediment nor

will it jeopardize in any manner the claim of the Insured. NO COMMISSION / BROKERAGE will be

passed on to any Insurance Brokerage / Advisor Firm / Company, etc.

Name of the Insurance Company

Signature, Name & Designation

PREMIUM OFFER FORMAT

(To be submitted online only)

Sr. No. Particular Premium Claims Total Prem GST Final

(In INR) Loading incl (In INR) Premium

(if any) loading (In INR)

(In INR) (In INR)

1. Industrial All Risk (IAR)

Standalone Terrorism

Public Liability Act

3. AOA : AOY Rs.250 :

Commercial General

5. Fidelity Guarantee

6. Money Insurance

Electronic Equipment

8. Marine Inland Transit

Submitted Submitted Calculated Submitted Calculated

Marine Import/Export Online) Online) Online) Online) Online)

All Risk Policy –

Laptop/Computer/IPAD

Directors & Officers

12. Fire / Laghu Policy

Contractor’s Plant &

Commercial Crime

16. Total Amount (Rs.) (To be Calculated Online)

16. Total Amount (Rs.) (To be Calculated Online)

For ______________________ Insurance Co. Ltd.

Authorised signatory