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News Brief | April 2016

Raising of resources to fund Nuclear Insurance Pool

M/s General Insurance Corporation of India (GIC-Re), along with several other Indian Insurance Companies, has launched the India Nuclear Insurance Pool (INIP) with a capacity of Rs.1,500 crore to provide insurance to cover the liability as prescribed under Civil Liability for Nuclear Damage (CLND) Act 2010.

The extent of suppliersĀ“ liability is as stipulated in Sec.17 of CLND Act, 2010 and explained in Rule 24 of the CLND Rules, 2011.As per Section 6(2) of the CLND Act 2010, the liability of NPCIL, as the operator, for a nuclear incident will be Rs. 1500 crore.

Contact: General Insurance Corporation of India
Tel: +91 22 2286 7000
Website: http://gicofindia.com/index.php?lang=en

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