Moneycontrol News
As the Insolvency and Bankruptcy Code (IBC) comes into force this August, insolvency professionals are now rushing to buy insurance for themselves, as per a LiveMint report.
But there’s one roadblock. General insurers in the country presently do not offer insurance cover for an insolvency practitioner.
Currently, there is no personal indemnity cover for me. But if I become an Insolvency Professional Entity, or IPE, then that IPE will be covered under professional indemnity. We are, therefore, working on forming an IPE so that we come under the umbrella and get the insurance, said Dinkar Venkatasubramanian, an insolvency professional at EY in a LiveMint report.
Indemnity insurance is a policy designed to pr…
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