General Insurance Corporation of India Launched of Nuclear Insurance Pool

M/s General Insurance Corporation of India (GIC-Re), along with several other Indian Insurance Companies, have launched the India Nuclear Insurance Pool (INIP) with a capacity of Rs.1500 crore on 12th June, 2015, to provide insurance to cover the liability as prescribed under Civil Liability for Nuclear Damage (CLND) Act 2010. The INIP will address liability related concerns of suppliers under the CLND Act 2010 and will pave the way for Indian as well as foreign suppliers to participate in the Indian Nuclear Power Projects.

This information was provided by the Union Minister of State (Independent Charge) Development of North-Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr Jitendra Singh in a reply to an unstarred question in Rajya Sabha on 04th March, 2016.