The government has decided to let the Rastriya Beema Sansthan (National Insurance Company) pick up all uncovered risks after private insurers announced last week that they would discontinue policies covering terrorism and sabotage. That decision has forced the Insurers' Association to reconsider their decision to withdraw coverage for losses caused by terrorism and sabotage after Maoists looted banks and took Rs 220 million on and after 23 November. The insurers activated the clause in the policy that says the agreement ceases to remain operational in "war and warlike" situations among others, and sent banks and financial institutions into a tizzy worrying about their insured cash and other investments. "The companies were panicking for no reason," Finance Minister Ram Sharan Mahat told us. "There will be nothing to worry about because the National Insurance Company will take up all the risks and perhaps do better business." The Insurers' Association said it managed to get its international re-insurers to agree to cover the aforesaid risks-after the government decision to take on these policies.