The Warehousing Development and Regulatory Authority (WDRA) on June 30, 2023, issued a notification regarding the insurance coverage of all the goods deposited in the WDRA registered warehouse.
The following has been stated namely: -
• The goods mentioned in circular 02/Tech 11/2022 dated June 03, 2022, which states the “Insurance policies to be taken by the warehouseman for the purpose of registration of warehouses”, represent stock with e-Negotiable Warehouse Receipts (eNWR) and e-Non-Negotiable Warehouse Receipts/Non- Negotiable Warehouse Receipts (e-NNWR/NNWR).
• In the event of non-coverage of total stock in the warehouse, it will attract the clause of under insurance and the warehouseman gets only a proportional claim during the claims settlement from the Insurance company.
[Circular No. 03/Tech.II/2017]
