Mumbai: The government would contribute Rs 600 crore to the proposed Rs 1,500-crore nuclear insurance pool that will be launched by Atomic Energy Commission chairman R K Sinha here on June 12, a senior official of GIC Re said on Wednesday.
“We have commitment from the government for Rs 600 crore or the Rs 1,500-crore nuclear insurance pool. Already four state-owned non-life general insurers have committed Rs 450 crore, while GIC Re alone is chipping in with Rs 300 crore, and the remaining Rs 150 crore is being contributed by seven private players,” a senior GIC Re official told PTI requesting anonymity. However, it could not be confirmed from the Finance Ministry.
The pool is likely to cover the hot zones of all the 10 nuclear power plants in the country which are run by the Nuclear Power Corporation.
Some of the major private sector general insurers which have committed to contribute for the pool include ICICI Lombard, Tata AIG and Reliance General.
“We are among very few private sector non-life insurers who have committed for the pool. Though we are small company, our board is of the view that we must participate in a nation-building programme like the nuclear pool,” Tata AIG General Insurance chief executive K K Mishra told PTI.
