HDFC ERGO General Insurance has launched the “Business Kisht Suraksha” cover. It is a unique cover that was launched with the aim of protecting the balance sheet of Microfinance Institutions (MFIs), financial institutions and banks if any catastrophe or a natural disaster occurs.
About Business Kisht Suraksha
- This was launched with the aim of limiting the impacts on the balance sheet of financial institutions which occurs because of non-payment of EMIs by borrowers or because of several calamities like earthquakes, floods, cyclones.
- The Business Kisht can be customised as per the needs of the individual MFI or financial institution (FI). It can also be tailor-made based on the geographical presence of the borrower, MFI or any FIs.
- The MFIs or FIs would also be given the option to select the number of EMIs which might need insurance coverage.
Important takeaways for all competitive exams:
- HDFC ERGO CEO: Ritesh Kumar.
- HDFC ERGO Headquarters: Mumbai.
- HDFC ERGO Founded: 2002.