by AIP Online Bureau | Sep 11, 2025 | Eco/Invest/Demography, Indian News, Non-Life, Reinsurance
Girija Subramanian, CMD, New India Assurance Till July 2025, 12 insurance companies have issued around 1,600 ISBs as ‘Bid Security’ and 207 ISBs as ‘Performance Security’ valued at around Rs 10,369 crores for NHAI contracts While the Indian general insurance industry...
by AIP Online Bureau | Oct 27, 2024 | Banking & Bancassurance, Eco/Invest/Demography, Indian News, Non-Life, Reinsurance, Risk Management
“The expectation that surety bonds should be cheaper than bank guarantees is unsustainable for insurers. Issues related to pricing, reinsurance options, and lack of clarity on indemnity documents further hinder progress. The Indian Contract Act and Insolvency...
by AIP Online Bureau | Jun 25, 2024 | Indian News, Non-Life, Reinsurance, Risk Management
Deepak Kumar, senior executive vice president & head – Reinsurance, Credit & Aviation Insurance at TATA AIG General Insurance, stated, “Through this issuance, we are standing by our client to fulfil their contractual obligations throughout the...
by AIP Online Bureau | May 16, 2024 | Eco/Invest/Demography, Indian News, Non-Life, Reinsurance, Risk Management
So far, NHAI has received 164 Insurance surety bonds consisting of 20 bonds for performance security and 144 bonds for bid securities for implementing its projects New Delhi: After initial hitches, some of the domestic general insurers including New India Assurance,...
by AIP Online Bureau | Sep 19, 2023 | Eco/Invest/Demography, Indian News, Non-Life, Policy, Regulation, Reinsurance
“India is expected to spend around Rs 100 trillion on infrastructure through the National Infrastructure Pipeline in the next five years. This requires bank guarantees of around Rs 90 lakh crore in the next five years which banks currently do not have capacity...
