Issuance of Nuclear Safety Bonds to Garner Part of Insurance Capacity for Proposed Indian Nuclear Insurance Pool

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..... Issuance of Nuclear Safety Bonds to Garner Part of Insurance Capacity for Proposed Indian Nuclear Insurance Pool
News and Press Release
Dated:- 21-3-2015

General Insurance Corporation of .....

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..... India (GIC Re) proposes to issue Nuclear Safety Bonds to garner part of insurance capacity required for proposed Indian Nuclear Insurance Pool. GIC Re has floated Expression of Interest (EOI) to enga .....

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..... ge professional institutions to work out end to end solutions for issuance of Nuclear Safety Bonds. Nuclear risks/perils connected with Hot Zone properties and associated third Party liabilities are .....

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..... not covered in conventional insurance policies. Since nuclear risks are of low frequency but of high severity nature, worldwide such risks are covered by pooling arrangements. The proposed Indian N .....

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..... uclear Insurance Pool is such a risk transfer mechanism. An in-principle approval has been received from Insurance Regulatory and Development Authority of India (IRDAI) for the formation of the Indian .....

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..... Nuclear Insurance Pool (INIP). This was stated by Shri Jayant Sinha, Minister of State in Ministry of Finance in written reply to a question in the Lok Sabha.
News - Press release - PIB .....

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