“We are examining the feasibility of nuclear accident cover in India,” Insurance Regulatory and Development Authority (IRDA) member R Kannan told PTI.
The sectoral watchdog is talking to insurers for exploring whether cover to liabilities arising out of nuclear accidents could be provided.
Reinsurer General Insurance Corporation (GIC) is working on the feasibility to provide insurance protection to such accidents.
“GIC is doing the necessary things and we are only looking at arrangements,” Kannan said.
The insurance cover to nuclear accidents are relevant since India is expected to embark on major initiatives in this area once its deal with the US is put into place.
(Published 03 January 2010, 16:41 IST)
JOIN US