What role has Insurance played in the globalization and growth of the IT & BPO Industry?
The IT & ITeS Industry has gained from the power of globalization more than any other industry, not only in India, but across the world. However, with globalization come the challenges and risks of dealing in a dynamic environment, one in which you are not always close to the markets you are exposed to. In this context, it is important for organizations to know that their risks of operating in such dynamic and diverse markets can be covered by an Insurance Program, so that they can pursue growth freely and aggressively. This past year we have seen more than a few businesses going bankrupt and their vendors would not have expected this just a few months earlier. Credit Insurance covers defaults by customers in paying for the goods or services received and ensure that there is no loss of revenue to the Insured. Similarly, Insurance Programs can cover Liabilities that may arise on account of claims made against them for violations by their On Site employees, or against their Directors and
