MUMBAI: ICICI Lombard, HDFC Ergo, New India Assurance and National Insurance are among the insurers who would be delivering a tailored insurance cover soon for Insolvency Professionals as the new breed of executives stare at multiple risks from charges of sabotage to negligence.
While there are broad indemnity covers, these are available only for a companys top executives and board of directors. But this cover wouldnt cover an Insolvency Professional who would take charge of running a company during the bankruptcy proceedings. The board of directors remain suspended though top management staff would be drawn upon to help run the company.
“As of now, the normal professional indemnity cover can protect,” said Sanjay Datta, chief unde…
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