NIA set to insure Kudankulam plant with global participation; sum assured of over Rs 43,000 crore

New India Assurance (NIA) will soon complete the placement of property cover for units three and four of Kudankulam Nuclear Power Plant (KKNPP), with a sum assured of over Rs 43,000 crore. The cover is likely to be executed with the participation of major global reinsurers, sources said.

NIA, which has provided the property covers for the first two units of the plant with the participation of state-owned GIC Re, has already won the Nuclear Power Corporation of India Ltd (NPCIL) mandate for insuring two more units of the KKNPP after a competitive bidding last November.