Title: Exposure Draft
Reference No.: --
Amendment to Guidelines on Trade Credit Insurance
The Authority under the powers vested in Section 14(2) of the IRDA Act 1999 had issued guidelines on trade credit Insurance ref IRDA/NL/CIR/Cre/205/12/2010 on13-12-2010 (copy attached), to regulate the business of Credit Insurance in India. The changes in economy especially in micro, small, medium enterprise sector has increased the need for trade credit and has enhanced the scope for the credit insurance sector manifold. Therefore, in order to give fillip to the growth of credit insurance market, it is felt necessary to revisit the above guidelines which regulate the credit insurance business in India.
The Authority proposes to bring certain changes in the existing guidelines. The draft of changes proposed citing the existing conditions are enclosed.
All stakeholders are requested to offer their comments/ suggestions on the proposed guidelines for consideration of the same by the department. The comments/suggestions should reach the Authority by 8th January, 2016 in the format attached preferably in MS Word format to the undersigned by e-mail at suresh at irda dot gov dot in and nmbehera at irda dot gov dot in
Sr Joint Director (Non Life)