State-run Oil and Natural Gas Corporation (ONGC) has renewed the Rs 100 crore insurance cover of its directors for 2009-10 at 13.6 per cent less premium.

ONGC has insured its board of directors and company secretary and those of its subsidiaries for any personal liability arising from discharge of their official responsibilities.

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National Insurance Co quoted a renewal premium of Rs 12 lakh (excluding service tax) for 2009-10 fiscal against Rs 13.98 lakh of the previous year.

The renewal is effective from June 10, 2009.

"For no claim for the last five years, ONGC has been entitled for a lower premium," the statement said.

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