The Institute of Company Secretaries of India (ICSI) has tied up with New India Assurance and Oriental Insurance to protect its 55,000 members from liability arising out of frauds and financial disputes.
The Individual Professional Indemnity cover starts from ₹10 lakh for a premium of ₹1,000-1,200. Makarand Lele, President, ICSI, said the liability on the company secretary is rising with frequent changes in regulations.
The institute has 600 insolvency resolution professionals and 330 are engaged by banks.