IRDAI forms working group to revisit framework on trade credit insurance

In an aim of revisiting the guidelines on trade and credit insurance, the IRDAI has developed a working group. IRDAI had released the trade credit insurance guidelines in 2016. “Thereafter, representations have been received from various stakeholders to revisit the scope of the trade credit insurance,” the regulator said in a circular. The group consisting nine members will look after different aspects, inclusive of current regulatory framework, need for changes, risk management, claims handling, pricing, reserving, and availability of re-insurance support in domestic and international markets.