ICAI signs MOU for Insurance against Professional Indemnity for CAs

CA. Amarjit Chopra, President, ICAI has signed an MOU with New India Assurance Co. Ltd. on 10 th February 2011 extending facility for insurance against professional indemnity for members and CA Firms. Mr. Virander Kumar, Genral Manager, New India Assurance Co. Ltd. while signing the MOU on behalf of the Company stated that MOU provided cushioned insurance scheme for CAs being offered at heavily discounted rate for ICAI.

The scheme provides indemnity insurance for members covering risk of Rs 10 lakhs with extension of allied professional colleagues and for CA Firms including partners coverage of Rs 1 to 2 crores. This is a renewable scheme for 12 months applicable to all the members and CA Firms of ICAI.