Magazine date:
Oct 2013 The June 2013 floods have caused extensive damages to hydroelectric power plants in the north of the country. Material damages, estimated at 226 million USD, forced insurance companies to review the risks associated with this type of coverage when plants are located along the chain of the Himalayas.
The Indian non-life insurers have been in talks with the national reinsurer General Insurance Corporation (GIC) to examine the possibility of creating a pool. The realization of such a project should involve the international reinsurers whose expertise. The government is currently opposed to this proposal.