Gallagher creates India’s First Pandemic Insurance using parametric triggers Launched by New India Assurance, Reinsured by Munich Re

Mumbai (Maharashtra) [India], October 18: The Phoenix Mills Ltd has become the first insured in India to be covered against business interruption losses due to pandemic or epidemic outbreaks based on parametric triggers. The coverage includes loss of revenue and additional extra expenses arising from epidemic events. The policy empowers its different business verticals spread to of Malls, Hotels and Office Assets spread across India, to maintain operational continuity and financial stability…