Nuclear plants in India get insurance cover for first time and other top insurance news

Nuclear insurance policy After tortuous negotiations, New India Assurance has issued the much-awaited nuclear insurance policy to the Nuclear Power Corporation of India (NPCIL).

Sugarcane growers in MP’s Narsinghpur district have demanded that their crop be included under the new Pradhan Mantri Fasal Bima Yojana (Prime Minister Crop Insurance Scheme, PMFBY).

Observing that the state government needs to “move beyond the conventional methods of compensating farmers affected by drought,” the Bombay High Court directed the Maharashtra and the Union governments to list their crop insurance schemes.

Falling growth in new business premium and increasing competition from top bank-promoted life insurance companies would force several insurers to rework their business models or look at mergers to survive.

LexisNexis Risk Solutions, a data repository for insurance providers, will come out with its ‘risk score’ – similar to the ‘credit score’for the banking sector – for the life insurance sector by the end of this year.

Hotai Motor, the Taiwan auto distributor for Toyota led by one of the island’s richest families, will buy the local non-life insurance business of Zurich Insurance, the Central News Agency reported on Friday, citing Hotai spokesman Hsieh Fu-lai.

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