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Exposure draft
Ref. No: IRDA/NL/MISC/CRE/121/05/2020 Date: 21-05-2020
Revisiting Guidelines on Trade Credit Insurance

 

 

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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