| Non-life insurers are betting highly on the Forward Markets Commission (FMC)’s proposed norms relating to commodities trade. According to the norms, warehouse service providers (WSPs) will have to provide full insurance covers to deliverable commodities on futures exchanges.
In draft guidelines issued on August 26, the FMC said WSPs seeking accreditation with the National Multi Commodity Exchange would have to fully cover the value of goods at exchange-approved warehouses for risks such as fires, floods, cyclones, earthquakes, burglaries, thefts, etc...............................................Full Article: Source
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