The Insurance Regulatory and Development Authority has decided to frame guidelines for allowing insurance cover for nuclear accidents.
The agency is awaiting the the nuclear liability law to provide framework for the proposed rules. “Insurance companies would be happy in providing cover for nuclear accidents, if the customers show interest,” Irda chairman J Hari Narayan said. India is all set to engage in nuclear commercial trade with various countries following the clearance of a Nuclear Liability Bill in Parliament during the monsoon session. The bill now awaits for the nod of the President before becoming a law.