{"id":18350,"date":"2022-06-19T17:14:39","date_gmt":"2022-06-19T11:44:39","guid":{"rendered":"https:\/\/demo.testctsl.in\/indiafirstepaper?p=18350"},"modified":"2022-06-19T17:14:39","modified_gmt":"2022-06-19T11:44:39","slug":"indian-insurers-put-in-place-fertiliser-pool-to-cover-imports-from-russia","status":"publish","type":"post","link":"https:\/\/demo.testctsl.in\/indiafirstepaper\/2022\/06\/19\/indian-insurers-put-in-place-fertiliser-pool-to-cover-imports-from-russia\/","title":{"rendered":"Indian Insurers Put in Place &#8216;Fertiliser Pool&#8217; to Cover Imports from Russia"},"content":{"rendered":"<p>In order to provide insurance cover to fertilisers imported from Russia and Belarus, the Indian insurance sector has created a Rs 500 crore &#8216;fertiliser pool&#8217;, said a senior industry official.<\/p>\n<p>&#8220;With European reinsurers not willing to provide reinsurance support to imports from Russia and Belarus and while India imports a sizable volume of its fertilisers from these two countries, the non-life insurance industry has decided to create a Rs 500 crore pool,&#8221; the senior industry official preferring anonymity said.<\/p>\n<p>The official said bulk of the pool amount will be contributed by the national reinsurer General Insurance Corporation of India (GIC Re) and all other multi-line non-life insurers will also be contributing to the pool corpus.<\/p>\n<p>The reinsurers in Europe and the US are not providing reinsurance cover to goods going out of Russia and Belarus owing to the Russian military action in Ukraine.<\/p>\n<p>The premium collected to insure the fertiliser imports by the primary insurers will be ceded to the pool after deducting some administrative expenses.<\/p>\n<p>The claims if any are paid out of the pool.<\/p>\n<p>This will be the third insurance pool in India after terrorism and nuclear insurance pools.<\/p>\n<p>The fertiliser pool has the sanction of Insurance Regulatory and Development Authority of India (IRDAI).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In order to provide insurance cover to fertilisers imported from Russia and Belarus, the Indian insurance sector has created a Rs 500 crore &#8216;fertiliser pool&#8217;, said a senior industry official. &#8220;With European reinsurers not willing to provide reinsurance support to imports from Russia and Belarus and while India imports a sizable volume of its fertilisers [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,79],"tags":[],"class_list":["post-18350","post","type-post","status-publish","format-standard","hentry","category-main-stories","category-nation"],"_links":{"self":[{"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/posts\/18350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/comments?post=18350"}],"version-history":[{"count":1,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/posts\/18350\/revisions"}],"predecessor-version":[{"id":18352,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/posts\/18350\/revisions\/18352"}],"wp:attachment":[{"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/media?parent=18350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/categories?post=18350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/demo.testctsl.in\/indiafirstepaper\/wp-json\/wp\/v2\/tags?post=18350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}