HDFC ERGO launches Business Kisht Suraksha cover

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.

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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.

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