 "Two new product structures for title insurance likely: Here're the details")
A working group of the Insurance Regulatory and Development Authority of India (Irdai), formed to revisit the product structure of “title insurance”, has suggested two new product structures apart from a comprehensive cover for all promoters, allottees, and successors.
The working group, in its report, said, there is a need to expand “title insurance” products to improve the marketability of this specialised category.
The product has to be necessarily aligned with the requirements of developers and customised to the needs of individual buyers. These can spur the demand for products in the segment.
Title insurance is a form of indemnity insurance that insures
