Financial ExpressDec 28, 2021No data on MSMEs covered by insurance maintained with IRDAI: FinMinEase of Doing Business for MSMEs: IRDAI had revised the guidelines for trade credit insurance, which came into effect from November 1, 2021, to enable general insurance companies to offer insurance with customized covers to improve businesses for MSMEs, considering their evolving insurance risk needs.Ease of Doing Business for MSMEs: The government doesn’t have data to gauge the insurance penetration in India’s vast MSME sector. Even as the steps have been announced to improve insurance coverage for risk management in the MSME sector, “The Insurance Regulatory and Development Authority of India (IRDAI) has informed that data on the number of businesses under the MSME sector that are covered by insurance is not maintained by it,” Minister of State for Finance Ministry Bhagwat Karad said in a written reply to a question in Rajya Sabha.Read more at Financial Express
Ease of Doing Business for MSMEs: IRDAI had revised the guidelines for trade credit insurance, which came into effect from November 1, 2021, to enable general insurance companies to offer insurance with customized covers to improve businesses for MSMEs, considering their evolving insurance risk needs.Ease of Doing Business for MSMEs: The government doesn’t have data to gauge the insurance penetration in India’s vast MSME sector. Even as the steps have been announced to improve insurance coverage for risk management in the MSME sector, “The Insurance Regulatory and Development Authority of India (IRDAI) has informed that data on the number of businesses under the MSME sector that are covered by insurance is not maintained by it,” Minister of State for Finance Ministry Bhagwat Karad said in a written reply to a question in Rajya Sabha.Read more at Financial Express
