Global reinsurers refuse to give cover to Indian refineries using Iran oil
George Mathew: Mumbai, Feb 03 2013, 00:56 IST
a discussion of the insurers to identify the issues involved and attempt to find out possible solutions,” the communication said.
“Indian insurers can’t even think of doing it on their own as plants are expensive. They need to go in for reinsurance to hedge their risk. We’re negotiating with them as India has cut down oil imports from Iran,” said a top insurance sector source.
India has proposed to cut oil imports from Iran by 10-15% in the next fiscal.
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