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MOM
Ref. No: -- Date: 23-03-2020
Minutes of the 59th meeting of the Procurement Committee

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA

HYDERABAD

 

Minutes of the 59th meeting of the Procurement Committee held on 20thMarch, 2020

 

Present:

i.      Shri. K.Ganesh - Chairperson

ii.    Shri M. Pulla Rao, ED-General - Member

iii.   Shri P.K. Maiti, GM-Enforcement - Member

iv.   Shri M.S.Jayakumar, CAO - Member Convener

 

User Department present:

 

v.    Smt. Neetu Shahdadpuri, AGM

 

Renewal of Group Medishield Insurance Policy

 

Administration Department submitted the agenda and apprised the Committee as follows:

 

2.     The existing Group Medishield Policy (GMP) is expiring on 19.4.2020. Quotations were called for from all General Insurance Companies and Stand Alone Health Insurance Companies and the last date for submission of quotes was 16th March, 2020.

 

3.     In response,12 insurers have submitted their quotes. The quotes were evaluated keeping in view, the coverage and other terms under which the bids were called for. On the basis of conformity with the required coverage, the department recommended L1 bidder out of 7 for renewal of GMP for the year 2020-21.

 

4.     The Committee noted the submissions and recommended for renewal of Group Medishield Insurance Policywith M/s IffcoTokio General Insurance Company Limited at their quoted price of Rs.1,11,51,000/- (including GST).

 

The meeting concluded with vote of thanks to the Chair.

 

M.S.Jayakumar

Member-Convener

 

P.K. Maiti

Member

M. Pulla Rao

Member

 

K.Ganesh

Chairperson

 

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