As per decision taken in the 74th meeting of SSCAC held on 27th September 2006 regarding Insurance Coverage of Sardar Sarovar Power Project, an Empowered Committee was constituted under the Chairmanship of Executive Member, NCA consisting of members nominated by the Party States as well as Central Electricity Authority (CEA) and NCA, with Secretary (SSCAC), as its Member Secretary. The Committee held three meetings between February 2007 & June 2007 wherein Insurance Companies also gave their presentations. After detailed discussions and deliberations among the members, a consensus decision was arrived at. As per requirement, the Committee submitted its report along with the recommendations on the total sum to be insured and the best option to be selected in the interest of the project. The recommendations of the Committee were discussed in the 75th SSCAC Meeting and the Committee decided that Standard Fire and Special Perils Policy i.e. Fire + RSMD (Riot, Strike, Malicious Damage) + Earthquake + Terrorism + STFI (Storm, Tornado, Flood, Inundation) without loss of production and without machinery breakdown may be taken up for Sardar Sarovar Power Project. Total sum to be insured is Rs.1797 Crores. The insurance premium is sharable by the three party States (GOMP/GOM/GOG) in the ratio of 57:27:16.