Invitation For Prequalification For The Services Of Insurance And Reinsurance Brokers Of ECOWAS Institutions/Relaunch Notice

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Date : 17 Sep 2021 - 22 Oct 2021
Venue : Abuja, Nigeria,
Town : Abuja
Country : Nigeria

LOCAL COMPETITIVE BIDDING

Date of publication: 17 September 2021

INVITATION FOR PREQUALIFICATION FOR THE SERVICES OF INSURANCE

AND REINSURANCE BROKERS OF ECOWAS INSTITUTIONS/RELAUNCH NOTICE

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Updated EoI-Insurance Brokers-2021 – final OK

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

ECOWAS currently maintains Staff benefit Insurance policies for all Staff members of its six

Institutions and seven Agencies, as well as Asset insurance policies for three of its Institutions

domiciled in Nigeria. Article 48 of the ECOWAS Staff Regulations makes it compulsory for

all Institutions and agencies to subscribe to an Accident and Group Life insurance policy.

 

2. Through this publication, ECOWAS wishes to engage the services of Insurance and

Reinsurance brokers with specific expertise, proven track records and experience to handle its

Insurances. ECOWAS is seeking written proposals from insurance brokerage firms to provide

insurance and reinsurance brokerage services that include but not limited to risk handling,

Insurance placement and servicing, risk exposure analysis, as well as general Insurance

advisory services and claims assistance with prompt claims payment. The selected brokerage

firms will work directly with ECOWAS Administration on insurance coverages, renewals, and

claims administration.

 

3. The scope of work of the Brokers shall include but not limited to:
4. Assisting ECOWAS in selecting dependable underwriters with sound financials
5. Accessing the Risk of ECOWAS to identify arrears of exposures
6. Placing the risk with selected insurers
7. Obtaining the best coverage at the most competitive rates
8. Helping ECOWAS in processing of Claims and ensuring urgent claim settlements
9. Enlightening ECOWAS on ways of improving its risk management through advising,

training and capacity building

 

4. Ensure the cost and administrative effectiveness of the programme as well as the enhancement

of the scope and depth of cover under each policy. The Department of General Administration

& Conference of the ECOWAS Commission thereby requests from eligible insurance

brokerage companies to indicate their interest in providing these services. Interested companies

must provide the following information showing that they are qualified to perform the services.

 

5. GENERAL REQUIREMENTS FOR BROKERS
6. Duly signed and stamped introductory letter by the company’s authorized signatories;
7. Evidence demonstrating that the bidder is not be in cessation of activity (bankruptcy). The

bidder SHALL provide the relevant documents; (certificate of non-bankruptcy or a

declaration on the honor of non-bankruptcy);

1. Certified true copy of Certificate of Incorporation and Registration delivered by the

relevant Authority of the bidder’s country, such as the Corporate Affairs Commission

(CAC) of r Nigeria;

1. Certified true copy of current Operating License for insurance broking issued by the

relevant insurance regulatory Authority.;

1. Certified true copy of the bidder’s ’s annual audited accounts for the last five (5) years

(2016, 2017, 2018, 2019 & 2020), certified by the relevant regulatory authority. The

certification shall be supported by an approval letter from the regulatory authority;

1. Certified true copy of tax clearance certificate for the last five (5) years (2016, 2017, 2018,

2019 & 2020) delivered by and approved by the relevant regulatory Authority;

1. Certified true copy of the bidder’s Group Life Insurance Certificate certified by the relevant

regulatory authority;

1. Evidence proving number of years of insurance experience managing insurance schemes

similar to that of ECOWAS;

1. Management and personnel profile of the bidder’s company;
2. List of names & contact details of top ten (10) current clients. Every claim shall be

supported by certificate of satisfactory service, signed, sealed and delivered by the head of

the concerned client company or the principal deputy in charge of insurance management;

1. Letter of reference from your bankers ascertaining your financial capacity. Letter should

be signed by your bank’s branch manager or higher authority;

1. Evidence of having managed Insurances of Multilateral/Regional or Multinational

Organization like ECOWAS. (Bidders SHALL Provide signed Contract or Job Completion

Certificate issued by the head of the client company of the principal deputy in charge of

insurance management);

1. Full detailed documentation of bidder’s company personnel and management profile with

CVs and showing the total number of staff. The list of personnel provided should be

substantiated by pension clearance certificate issued by the National Pension

Commission.

1. Evidence of current registration and good standing with the association of brokers as well

as the national insurance regulatory authority.

 

NOTE WELL:

1. All certifications, clearances, letters, approvals, etc. mentioned above that pertain to

the relevant insurance regulatory authority must be on official letterhead(s), signed,

sealed and delivered by the head of the regulatory body or the principal deputy in

charge of insurance.

1. Where reference is made to the association of brokers, referenced documents should be

signed by the head of the association or the principal deputy responsible for the

concerned document.

1. In the case Nigerian bidders, the association of brokers shall be the Nigerian Council

of Registered Insurance Brokers (NCRIB) and the regulator shall be the National

Insurance Commission (NAICOM).

 

6. SPECIFIC REQUIREMENTS FOR BROKERS
7. Evidence of supervising claim payment of over NGN100M or $500,000 annually for a

five-year period from January 2016 to date;

1. Certified true copy of Professional Indemnity coverage certified by the relevant insurance

regulatory authority;

1. Certified true copies of the bidder’s Company annual audited accounts and tax clearance

certificate for the last five (5) years (2016, 2017, 2018, 2019 & 2020), certified by the

relevant regulatory authority should clearly show bidder’s annual brokerage income for the

five years;

1. Evidence of bidder having a representative office in Abuja, with a dedicated team to

support the ECOWAS account if selected. CVs of the dedicated team should be attached

to assess the qualification of the team. All qualifications of broking personnel (individual

brokers) on the team should be confirmed by the Chartered Insurance Institute of Nigeria

and the association of insurance brokers. For Nigerian bidders, the association shall be the

Nigerian Council of Registered Insurance Brokers (NCRIB);

1. Evidence of having an international partner such that the international partner is one of

the top global insurance brokers with global coverage and offices around the World;

1. Full detailed presentation of bidder’s company personnel and management profile with

CVs and a certification from the Pension Commission signed by the highest applicable

level of authority at the Pension Commission;

1. Certified true copy of current Operating License for reinsurance broking issued by the

relevant insurance regulatory Authority;

1. Detailed written proposal on how the bidder intends to execute the project, if selected, to

ensure the best value for money for ECOWAS.

NOTE WELL:

1. All pieces of evidence, certifications, letters, etc. from the client organization of the

bidder must be on official letterhead(s) of the client institution as well as signed and

sealed by the head of the client institution or his/her designee.

1. All certifications, clearances, letters, approvals, etc. mentioned above that pertain to

the relevant insurance regulatory authority must be on official letterhead(s), signed,

sealed, and delivered by the head of the regulatory body or the principal deputy in

charge of insurance.

1. Also, where reference is made to the association of brokers, referenced documents

should be signed by the head of the association or the principal deputy responsible for

the concerned document.

Please also note that all the above requirements are mandatory for the acceptance of the

bids. The Non-Submission of any of these documents will lead to the disqualification of

the Bidder.

 

7. Interested eligible companies may obtain further information at Procurement Division,

Directorate of General Administration, ECOWAS Commission, Plot 101, Yakubu

Gowon Crescent, Asokoro District, P.M.B. 401 Abuja, Nigeria. Email:

procurement@ecowas.int with copy to cdeh@ecowas.int ; sbangoura@ecowas.int

afallah@ecowas.int

 

8. The attention of interested Consultants is particularly drawn to Article 117 of the ECOWAS

Procurement Code (“Infringements by Candidates, Bidders and Awardees”), providing

information on corrupt or fraudulent practices in competing for or executing a contract. In

addition, please refer to the following specific information on conflict of interest related to this

assignment as per “Article 118 of the ECOWAS Procurement Code.

 

9. All submissions (1 Original + 3 Copies + one (1) USB drive including the electronic copy

of the submission) should be delivered in a sealed envelope and deposited in the ECOWAS

Tender Box located in the Directorate of General Administration, Procurement Division,

1st Floor ECOWAS Commission, 101 Yakubu Gowon Crescent, Asokoro District, P. M.

1. 401 Abuja Nigeria. and clearly marked:

‘’Invitation for Prequalification for the Services of Insurance Brokers of ECOWAS

Commission, Do Not Open, Except in Presence of the ECOWAS OPENING

COMMITTEE” on or before Friday 22nd October 2021 at 11.00am, Nigeria Time at the

latest.

 

10. This invitation for Bids can be also consulted on: http://old22.ecowas.int/doing-business-in-ecowas/ecowas-procurement/

 

Vafolay M. TULAY

Commissioner, General Administration & Conference