EXPOSURE DRAFT
Ref No. IRDA/NL/MISC/CRE/121/05/2020 Date: 21.05.2020
TO ALL STAKEHOLDERS
Re: Revisiting Guidelines
on Trade Credit Insurance
1.
The
Authority had revised the guidelines on Trade Credit Insurance on 10th
March, 2016 vide Circular Ref: IRDAI/NL/CIR/CRE/044/03/2016. Representations
from various stakeholders have been received requesting enhancement in the
scope of the cover and increase in the range of products.
2.
Considering
the various requests and the needs of the market in view of the changing
paradigms of trade,IRDAI constituted a Working Group to revisit the existing
guidelines on Trade Credit Insurance.The Working Group has proposed several
changes in the existing guidelines in order to improve the credit insurance
market and at the same time meet the requirements of various stakeholders
involved in trade related transactions.
3.
We now
place the Report of the IRDAI Working Group on revisiting Guidelines on Trade
Credit Insurance. The proposed changes in the existing guidelines and other
recommendations of the Working Group are contained in Chapters 5 & 6.
We urge all the stakeholders to offer
their valuable comments on or before 3rd June, 2020 in the attached
format to the following e-mail ids.
nl-products@irdai.gov.in
jyothi.adike@irdai.gov.in
(Yegnapriya
Bharath)
Chief General Manager (Non-Life)
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