Roadtown, Tortola - Insurance companies, licensed in the Virgin Islands are invited to submit proposals to provide a Group Health Insurance Plan with comprehensive coverage for all Government employees, retirees and their dependents who are members covered under the existing plan as of December 31, 2009. 

The health insurance plan should provide for the coverage of pre-existing conditions, major medical insurance; worldwide 24-hour coverage; local office/agent; maximum lifetime benefits; maximum out-of-pocket; life insurance for insured and dependents; and disability insurance amongst other benefits.  Tenderers are also encouraged to elaborate thoroughly on their preferred provider network.

Tender documents will be available upon request from the Chairman of the Central Tenders Board in the Procurement Unit of the Ministry of Finance and will be distributed effective Monday, September 14 until Friday, September 25 between 9 a.m. and 4 p.m.

The deadline for submission of tenders is Tuesday, September 29, 2009 at 10 am and a non-refundable $50 fee payable by cash or bank cashier’s cheque payable to the Accountant General is required. 

All applications must include a valid insurance license issued pursuant to the Insurance Act 1994 or a copy of an insurance license application submitted to the Commissioner of Insurance, certificates of good standing from the Director of the BVI Social Security Board, Commissioner of Inland Revenue and the Registrar of Commercial Registry, as well as a valid trade license.  The certificates issue dates should be no earlier than one month prior to the date of submission.

Also included should be evidence of A.M. Best Rating of “B” or better; independently audited financial statements for the financial years 2007 and 2008; names of local insurance agents and the curriculum vitae outlining the professional skills and qualifications of the manager, including details of experience in the field together with a valid Certificate of Authority issued pursuant to the Insurance Act 1994.

Tenderers should also include a copy of a proposal form and policy wording, a copy of certificate and endorsements wording subject to the Virgin Islands jurisdiction clause; a business plan giving details of how the plan will be established and administered; details of worldwide claims handling procedures; and an estimated premium for specific listed coverage and applicable deductibles per coverage.

Tenders will be publicly opened at the Ministry of Finance, Procurement Unit located at the RFG Place, third floor on Tuesday, September 29, 2009 at 12:00 noon and tenderers are invited to attend.
For more information, interested persons can contact the Procurement Coordinator, Mrs. Ishma Hodge-Rhymer at 468-3701 ext. 4243.