HDFC ERGO Launches Business Kisht Suraksha to Protect MFIs & Financial Institutions against Calamities & Natural Disasters


HDFC ERGO General Insurance, India’s leading non-life insurance company in the private sector, announced the launch of Business Kisht Suraksha, a unique cover aimed at protecting the balance sheet of MFIs, financial institutions and banks in the event of a catastrophe or natural disaster.

With growing concerns of climate change and its effect on the environment, Business Kisht Suraksha aims to limit the impacts on balance sheet of financial institutions, due to non-payment of EMIs by borrowers, resulting out of listed calamities such as floods, earthquakes, cyclones, etc.

Commenting on the launch, Mr. Anurag Rastogi, Chief Actuary & Chief Underwriting Officer, HDF ERGO General Insurance Company said, “Over the past few years, we have seen a rise in natural calamities such as floods and cyclone, which impact the livelihoods of people residing in these calamity-prone areas. Moreover, such calamities also severely impact the lending businesses in these areas. Business Kisht Suraksha aims to address these concerns by indemnifying against these climatic changes whilst also protecting financial institutions from rising NPAs occurring due to the impact of natural disasters.”

Business Kisht as a product can be customised as per the needs of an individual MFI or financial institution. The product can also be tailor-made depending on the geographical presence of the borrower, MFI or any financial institution basis the perils/climatic conditions that the location is prone to. Additionally, MFIs or financial institutions also have the option of selecting the number of EMIs that might need insurance coverage concerning the lenders exposure.


HDFC ERGO General Insurance Company is a 51:49 joint venture between Housing Development Finance Corporation Ltd. (HDFC) and ERGO International AG; the primary insurance entity of the Munich Re Group of Germany. With complimentary skill sets and strengths of both the companies, the JV formed in 2008, is among India’s top 3 General Insurance companies in the private sector. HDFC ERGO offers the complete range of General Insurance products including Motor, Health, Home, Agriculture, Travel, Credit, Cyber and Personal Accident in the retail space and Property, Marine, Engineering, Marine Cargo, Group Health and Liability Insurance in the corporate space. The Company also offers a range of products for rural India, including Gramin Suraksha, Parivaar Suraksha, Crop, Weather and Cattle insurance. Innovative insurance products like Mosquito Disease Protection Policy, E@secure, Title and Solar Energy Shortfall Insurance have also set milestones in the way insurance can adapt to and cater for whatever it is that the customers need.

Over the last few years, HDFC ERGO has constantly endeavoured to not just align itself to the evolving market needs, but instead be a pioneer in terms of its offerings. Having its ears to the ground has helped HDFC ERGO create a stream of highly targeted new products and AI-based tools and technology. Be it unique insurance products, integrated customer service models, top-in-class claim process or a host of technologically innovative solutions, the Company has been able to delight its customers at every touch-point and every milestone. The Company has been a market leader in using technology to advance the reach and impact of insurance in the country.

Recently, the Company announced the completion of the merger of HDFC ERGO Health Insurance (formerly known as Apollo Munich Health Insurance) with HDFC ERGO, which came in to effect on November 13th, 2020. This merger marked the second successful merger in India’s general insurance sector, following the merger of L&T General Insurance in 2017.

With a wide distribution network and a 24×7 support team, the Company has been offering seamless customer service and innovative products to its customers. Please log on to for more information on HDFC ERGO and the products and services offered by the Company.


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