, India

India pushes product expansion in title insurance

A comprehensive cover for all promoters is recommended.

There is a need to expand the range of products included in India’s title insurance segment to boost plan marketability, according to a working group formed by the country’s Insurance Regulatory and Development Authority.

Title insurance is a type of indemnity insurance that shields lenders and homebuyers from financial loss sustained from defects in a title to a property.

The group recommends a comprehensive cover for all promoters, allottees and successors as well as a promoter legal expenses policy and an allottee retail policy, both of which are additional options.

The group has forwarded its recommendations, including two new product structures.

Moreover, the draft proposal stated that a loan policy provides no coverage or benefits for the buyer or owner; hence, purchasing an owner policy is independent of the lender’s decision to require a loan policy.

 

Join Insurance Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Filipino gamers hold promise for FWD
The insurer plans to support other games and aspects of the gaming ecosystem beyond esports.