Insurance regulator IRDA is examining the possibilities of allowing cover for nuclear accidents a

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step which assumes importance as India is expected to be a major player in this sector after Indo-US nuclear deal is operationalised.

"We are examining the feasibility of nuclear accident cover in India," Insurance Regulatory and Development Authority (IRDA) member R Kannan told PTI.

The sectoral watchdog is talking to insurers for exploring whether cover to liabilities arising out of nuclear accidents could be provided.

Reinsurer General Insurance Corporation (GIC) is working on the feasibility to provide insurance protection to such accidents.

"GIC is doing the necessary things and we are only looking at arrangements," Kannan said.

The insurance cover to nuclear accidents are relevant since India is expected to embark on major initiatives in this area once its deal with the US is put into place.

The ambitious programme, however, may not materialise as desired unless there is insurance protection for nuclear accidents.

Recently, US President Barack Obama and Indian Prime Minister Manmohan Singh had agreed to hasten the process of operationalising the accord.