Indian insurers face $107m loss over refinery
A vapour fire explosion at an oil refinery owned by HPCL-Mittal Energy in Bathinda, Punjab has triggered a major claim.
According to the Economic Times, the 650bn rupees ($107m) loss is 75% led by New India with GIC the lead reinsurer.
GIC's maximum contribution will be 100bn rupees and New India's payout will not
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