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India: Insurers raise premiums for hydroelectric companies

May 2, 2014 - 6:00am


Several insurers have raised premiums for hydroelectric projects in India, reports Silicon India citing the Economic Times.

A senior power ministry official said the 2013 Uttarakhand flash floods "completely changed the risk perception of hydro power plants for insurers." The official added that "in response to tenders of power companies seeking quotation for re-insurance, insurers have asked for double or triple the earlier rates for power projects."

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