Reinsurance cover likely for Naxal-damaged properties

GIC Re, the country s official re-insurer, is looking at options to provide reinsurance cover to the properties damaged by the recent Maoist attacks. Till now, the Maoist offensives do not fall under any kind of terror cover in the country. However, domestic insurers are considering treating such events as acts of terrorism and extend the existing terror cover. The issue is likely to come up during the forthcoming meeting of the terrorism pool committee. It is likely to be held in New Delhi during the first week of March. Talking to FE on the sidelines of an insurance summit, which ...

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