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.
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