Unlocking the Legal Aspects of Trade Credit Insurance in India
Trade credit insurance serves as a critical safety net for businesses engaging in domestic and international trade. By protecting suppliers against the risk of default in payment by buyers, this financial tool fosters economic growth and provides stability to supply chains. Given the complexities of modern commerce, understanding the legal framework governing trade credit insurance […]
Supreme Court decision on Section 64VB: Insurance Agents Cannot Override Advance Premium Requirement
The Supreme Court of India, in its judgment dated August 18, 2026, for Civil Appeal Nos. 7687-7688 of 2025, has ruled in favor of The New India Assurance Company Limited, overturning a previous decision by the National Consumer Disputes Redressal Commission (NCDRC). The judgment establishes that an insurance agent cannot bind an insurance company to […]