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The standing committee on finance-headed by former minister of state for finance Jayant Sinha has considered issues around reinsurance following complications in insurance claims related to the Teesta Stage III Hydropower project in Sikkim that was washed away by a glacial lake outburst. The power project, which was completely washed down by a glacial lake outburst flood, was insured for ₹ 11,400 crore by a consortium of insurers, including a public sector entity, but reinsurers capped the payout at ₹500 crore.