Business Networking

Terror insurance is the new buzz term especially in Mumbai's corporate circles post the 26/11 Mumbai terror attacks.
And with corporate India making a beeline for insuring itself against terror, the insurers are gearing up to match the rising demand in the aftermath of Mumbai terror act.
Apart from the Rs 750 crore sanction, the insurers are also offering a cover up to Rs 1,500 crore to corporates. Also, the sum is reinsured by a foreign insurance agency.
The top corporates such as Reliance Industries, ONGC, Indian Oil Corporation, other power generation firms and fertilizer makers have opted for reinsurance of up to Rs 1,500 crore.Not only this, now even the hoteliers, steel makers and many others are also waking up to add to the list.
Even as India Inc is looking forward to terror insurance, rising demand would result in the pool getting depleted and would also cause the risk premium to rise.