nuclear

GIC Re (General Insurance Corporation), the national reinsurance company in India is exploring the use of insurance-linked securities (ILS), or catastrophe bond type structures, as a financial tool to create capacity for a proposed nuclear insurance pool.

According to newspaper reports the Indian government has been considering a catastrophe bond type structure, possibly combined with a sovereign guarantee, in order to overcome a fear foreign suppliers have over its nuclear liability laws.

India’s Prime Minister, government officials and the National Disaster Management Authority (NDMA) are meeting today to discuss current issues regarding disaster preparedness and risk transfer which could affect India’s population and economy.