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Weather insurance deal

CHENNAI: ICICI Lombard General Insurance has structured a weather insurance deal in the non-agriculture domain, providing insurance cover to GHCL for the expected loss of salt production due to unseasonal rainfall at its Nagapattinam salt production fields in Tamil Nadu, says a company release. ICICI Lombard will pay GHCL an insured compensation of Rs. 6 lakhs, Rs. 10 lakhs and Rs. 25 lakhs per non-production day.

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