Gallagher insurance brokers has partnered with New India Assurance to launch the country's first parametric insurance policy that covers against business interruption losses due to pandemic or epidemic outbreaks based on parametric triggers.
Phoenix Mills in Mumbai has become the first company in India to obtain the coverage. 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 in the face of any unforeseen global health crises. for pandemic-related business interruptions through a parametric insurance policy launched by New India Assurance and reinsured by Munich Re.
Gallagher Insurance Brokers India chief broking officer Mr Puneet Gehani said that structuring the pioneering pandemic cover reflects its commitment to redefining risk protection in India. “At Gallagher, we don’t just place policies—we unlock global capacity, local relevance, and rapid response. In moments of crisis, clients deserve more than coverage; they deserve clarity, speed, and certainty,” he said.