India’s nuclear power plant is all set to achieve insurance coverage. Government of India is contributing Rs. 6000 million, while four state owned non-life general insurers GIC, Tata AIG and other 7 private insurance players contributing to Rs. 9000 million. The significant part is the hot zone of 10 nuclear power plants will also be covered. LIC is likely to launch a catastrophic bond to raise funds for the pool. Global re-insurers have also evinced interest, but protested citing laws which does not permit inspection of nuclear facilities which they insure.
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