“Insurance for insolvency professionals and their teams is a rather new concept in India and we are working with the insurers to develop new products as we move forward. Based on recent developments of CIRP timelines extending beyond 270 days, insurance policies also need to provide cover during this longer tenure. Risks faced by the insolvency professional are real and insurance cover is a norm in international markets,”

Ashish Chhawchharia
Partner, Restructuring Services, Grant Thornton Advisory Private Limited

This article appeared in Economic Times on 27th April, 2018.