Reliance India Limited’s 500-Crore Combined Cover Bagged by New India Assurance

New India Assurance, state-owned insurer, has bagged Rs 500-crore combined cover from Reliance Industries for its offshore and onshore assets for the next financial year, according to industry sources.

This happens to be the single largest insurance cover taken by any corporate in the country so far.

According to sources aware of the development, the premium for the mega combined insurance cover is Rs 500 crore with a sum assured of Rs 2.5 trillion.

However, this is not something new as more than thirty corporates have been availing of such covers since 2000. But, this is the first time that New India Assurance is offering a combined cover to both RIL’s offshore and onshore assets.

Both the companies were not available for any comments.

It is the largest combined cover offered to the projects owned by a single corporate house in the country.