new delhi, April 8 -- India is planning sovereign guarantees to support insurers that provide cover for vessels travelling in the Persian Gulf, as the West Asia war increases the risks to shipping, said government and industry sources familiar with the matter. The plan includes a $1.5 billion sovereign guarantee fund to provide insurers with reinsurance support and liquidity should insurance costs remain high, said one government source. A separate $300 million fund with contributions from the country's insurance industry is also being set up to help settle any large increase in insurance claims, the same source said. Maritime war risk insurance premiums have surged as much as 1,000% in some cases, as the West Asia conflict heightens risks ...