Press Release

Ministry of Finance
Release Date:
Wednesday, 25 March 2020 - 6:50pm

The Government of the Virgin Islands is inviting proposals for the provision of Earthquake Catastrophe Insurance for the British Virgin Islands.

Procurement Coordinator, Mrs. Ishma Rhymer said, “the Government of the Virgin Islands has taken a decision to employ a proactive approach to protecting and safeguarding the livelihood and infrastructure of the people of the Virgin Islands.” 

The insurance will provide coverage in the amount not less than one hundred million dollars (US$100,000,000) for the rehabilitation, reconstruction, restoration and revitalisation of standard eligible insurable assets.

Mrs. Rhymer said, “Meshed in this approach is the need to ensure that public infrastructure that may be severely damaged because of an earthquake can recover in short order to allow for the continuity of Government and its services.”

Eligible bidders are required to have a valid Insurance Licence issued pursuant to the Insurance Act 2008 for insurance providers operating in the BVI, along with Certificates of Good Standing from the Director of the Social Security Board and the Commissioner of Inland Revenue.  The date of issue on the certificates must be current, and should be no earlier than one month prior to the date of submission.  Firms registered outside the British Virgin Islands shall be required to submit equivalent documents relevant to the firm’s place of registration.

Bidding documents will be sent to bidders electronically upon request to with the subject title “Request for Bid Documents for Earthquake Catastrophe Insurance for the British Virgin Islands”. 

Interested tenderers should submit (1) original and two (2) copies, plus one (1) soft copy (flash drive) in sealed envelopes marked, “Original” and the additional copies placed in another sealed envelope marked “Copies”.  Both envelopes should then be placed in an outer envelope marked “Tender for Earthquake Catastrophe Insurance - BVI” and must be received no later than 10:00 a.m. on Tuesday, April 14 and must be addressed to:

The Chairman, Central Tenders Board
Ministry of Finance
Procurement Unit
Qwomar Trading Building No. 2, 2nd Floor
Road Town, TORTOLA,   VG 1110
British Virgin Islands

Bidders are invited to attend the opening of the Tenders at the Procurement Unit Conference Room, Ministry of Finance, Qwomar Trading Building #2 on Tuesday, April 14 at noon.

For more information contact the Procurement Coordinator at (284) 468-4243 or email


Andra Phillip

Department of Information and Public Relations