Insurers can offer cover to Indian refineries for Iran crude import: IRDA
Insurance Regulatory and Development Authority (IRDA) has enabled Indian insurers and reinsurers to help cover Iran crude oil import by Indian refineries.
IRDA chairman J Hari Narayan said that therefore, Indian refineries can ship oil from Iran with appropriate insurance cover. Read more
India’s sole reinsurer General Insurance Corporation of India (GIC), clarified that it has not refused cover to any Indian refinery dealing with Iranian crude and is only engaging in discussions to bring in clarity.