EXPOSURE DRAFT

Ref No. IRDA/NL/MISC/CRE/121/05/2020 Date: 21.05.2020

TO ALL STAKEHOLDERS

Re: Revisiting Guidelineson Trade Credit Insurance

1.    TheAuthority had revised the guidelines on Trade Credit Insurance on 10^thMarch, 2016 vide Circular Ref: IRDAI/NL/CIR/CRE/044/03/2016. Representationsfrom various stakeholders have been received requesting enhancement in thescope of the cover and increase in the range of products.

2.    Consideringthe various requests and the needs of the market in view of the changingparadigms of trade,IRDAI constituted a Working Group to revisit the existingguidelines on Trade Credit Insurance.The Working Group has proposed severalchanges in the existing guidelines in order to improve the credit insurancemarket and at the same time meet the requirements of various stakeholdersinvolved in trade related transactions.

3.    We nowplace the Report of the IRDAI Working Group on revisiting Guidelines on TradeCredit Insurance. The proposed changes in the existing guidelines and otherrecommendations of the Working Group are contained in Chapters 5 & 6.

We urge all the stakeholders to offertheir valuable comments on or before 3^rd June, 2020 in the attachedformat to the following e-mail ids.

nl-products@irdai.gov.in

jyothi.adike@irdai.gov.in

(YegnapriyaBharath)

Chief General Manager (Non-Life)

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