Current Context: Insurance Regulatory and Development Authority of India (IRDAI) has recommended an increase in protection against finances granted to the policyholders under Trade Credit Insurance (TCI) from 85% to 90%.
![Increase in Trade Credit Policy Cover Limit from 85% to 90%-- IRDAI Increase in Trade Credit Policy Cover Limit from 85% to 90%-- IRDAI](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhwssVsMVvv9oDk6za3BA2n12bLYAm_ohAzI31Pd1mn_jz33gYhCjdpM7O_EK7c1NEPitU-SBSK8NnVwdIOUWwFC3Gxy4UvkQjob9KLp98eZo0Cp95islSTjEKjjcJ36QhT_A8F2PCvHLlt/s320-rw/Insurance+Regulatory.png)
- This recommendation has been made by the committee consisting of 9 members expert panel headed by Atul Sahai, New India Assurance Chairman and MD.
- Also, the committee proposed protection against finances for MSMEs to be 95%, in order to grant relief in the event of loss situation.
- Other recommendations include the creation of a Buyer Default Database with Insurance Information Bureau (IIB) in order to keep a track on defaulters. Also RBI has been asked to recognize credit insurance products as risk mitigation tools for the banks to make them eligible for capital relief.
- Static Part:
- HQ of IRDAI: Hyderabad, Telangana
- Chairman of IRDAI: Dr Subhash Chandra Khuntia
Question:
Q.1 Recently, IRDAI has recommended an increase in protection against finances granted to the policyholders under Trade Credit Insurance (TCI) from 85% to ____%?
a. 87%
b. 90%
c. 92%
d. 95%
a. 87%
b. 90%
c. 92%
d. 95%