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INSURANCE SURETY BONDS
Insurance surety bonds data gaps under regulatory lensIn a proactive move to strengthen the financial landscape, Indian regulators are gearing up to close the reporting voids surrounding insura...- NeSL enabling real-time access to digital debt & claims data in insolvency casesNeSL is providing instant access to digital default records for insolvency cases. This helps authorities quickly verify debt and claims. Am...
- Over Rs 10,000 crore of Insurance Surety Bonds issued for NHAI contractsInsurance companies have issued over Rs 10,000 crore in Insurance Surety Bonds (ISB) for NHAI contracts, with 1,600 ISBs as bid security an...
- Understanding surety bonds and their benefits for the infrastructure sectorIndia's budget has allocated ₹11.11 lakh crore for infrastructure development, focusing on industrial parks, housing, water supply, sewage ...
- Regulatory changes to provide necessary push to surety bonds business, say expertsRegulatory changes and standardization are set to boost surety bonds introduced in 2022 by general insurance companies. These bonds will su...
- Road construction down by 12.1% to 1288 km in the current financial year up to May 2024As per the monthly update, released the ministry of road transport and highways (MoRTH) on Wednesday, the capital expenditure incurred duri...
- NHAI receives 164 insurance surety bonds as guarantee for road projectsIn a workshop organized on Wednesday on the implementation of insurance surety bonds (ISB) for NHAI contracts, NHAI said out of the 164 ISB...
- Govt considers giving financial creditor status to insurers issuing surety bond during resolutionThe Indian government is considering changes to the Insolvency and Bankruptcy Code (IBC) to give insurers the same status as banks in cases...
- Take advantage of surety bonds, Irdai Chairman to stakeholders in infra spaceThe chairman of Insurance Regulatory and Development Authority of India (Irdai) pointed out that India is expected to spend approx Rs 100 l...
- Some pain points addressed in surety bonds, more changes possible if need arises: IrdaiThe Indian insurance regulator, Irdai, has made changes to surety bonds, a risk transfer tool for the principal. The changes, which aim to ...
- FinMin agrees to allow highway contractors to convert bank guarantees into surety bonds, says GadkariThe Indian finance ministry has given the National Highways Authority of India (NHAI) and National Highways & Infrastructure Development Co...
- Changes in the works to make roads surety bonds lucrative: Nitin GadkariInsurance surety bonds can be used as a substitute for bank guarantees in government procurement tenders. The Insurance Regulatory and Deve...
- Changes in the works for surety bonds to make them lucrative: Nitin Gadkari“It took us three years to introduce the Insurance Surety Bond product after following up with regulatory authorities. The bond can be offe...
- New India Assurance becomes second company to offer surety bondsSurety bonds are legally enforceable tripartite contracts that guarantee compliance, payment and/or performance. The issuing insurer provid...
- Surety bonds can be a gamechanger if government adopts them in fullSurety bonds intend to solve this problem by looking at the previous track record of the contractors, their internal management and account...
- Regulators should be nimble-footed, they should take decision fast: Nitin GadkariThe minister on Monday launched the country's first-ever surety bond insurance product for the infrastructure sector, which has been develo...
- India’s first Surety Bond Insurance product to be launched on December 19: Nitin GadkariIt is estimated that banks seek close to 30-50 percent of cash money margin (from smaller construction companies), which is then stuck in t...
- Huge market available for surety bonds in India: NHAI memberAddressing an event organised by industry body Assocham, NHAI member Manoj Kumar further said the NHAI is working to expand the constructio...
- Robust legal framework necessary for development of surety bonds market in India: IRDAI report"For surety market to develop in India and keeping in mind best practices observed in other markets, a robust legislation requiring surety ...
- NHAI moves IRDA proposing insurance of road projectsThe National Highways Authority of India (NHAI) has proposed insurance cover for road projects, in a step that could help bring in credible...
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