Surety Bonds: Govt allows insurers’ parity with banks as `secured creditors’ within insolvency law in case of defaults

Surety Bonds: Govt allows insurers’ parity with banks as `secured creditors’ within insolvency law in case of defaults

Nitin Gadkari, Union Minister of Road Transport and Highways(Morth), will be formally launching the country’s first Surety Bond on Monday Bajaj Allianz General insurance, with major reinsurance back ups from Munich Re and Swiss Re has already got its Surety Bond...