India has approximately 6.33 Crore MSMEs. MSMEs contribute nearly 30% of the country’s GDP. Uttar Pradesh has a share of 14.20% of the total MSMEs, making it the largest number of states with MSMEs in the country. It is followed by West Bengal which has a share of 14%, which is then followed by Tamil Nadu and Maharashtra at 8%.
Class of Business
MSME setup typically purchase following types of insurance covers:
- Asset Protection – Fire & Burglary Insurance, Marine Insurance etc.
- Liability Insurance – Employer’s Liability, Errors & Omissions etc.
- Employee Benefits – Group Health Insurance etc.
IRDAI has prescribed the following policies for mid-size warehouses/manufacturing w.e.f. 1st April 2021 –
- Bharat Griha Raksha
- Bharat Sookshma Udyam Suraksha
- Bharat Laghu Udyam Suraksha
For more information kindly write to our broker email@example.com