Global insurance cos shy away after Japan disaster

The government's plan for a nuclear insurance pool has hit a roadblock as global insurance firms are shying away following the nuclear catastrophe in Japan that has raised concerns on high financial risk and restricted inspection access to facilities in the country. State-owned Nuclear Power Corporation and General Insurance Corporation (GIC), the only domestic re-insurer in the country, are finding it difficult to go ahead with the plan due to a lacklustre response from domestic and international players, according to sources close to the development.

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