The refineries of Indian Oil Corporation covered up to 816 million USD each

Indian Oil Corporation (IOC) has obtained a cover of 816 million USD for each of its refineries.

The contract, concluded for an annual premium of 9 million USD, has been signed between IOC and a group of insurers whose lead company is United Insurance.

IOC thus has covered its 10 refineries against fires, natural disasters, loss of profit caused by a business interruption and any damages caused to its property, plants and machineries.