India, Sept. 27 -- The Government of India has issued a release:
India relies heavily on maritime trade, with most of cargo and energy supplies transported through sea routes. The Bharat Maritime Insurance Pool (BMIP) offers marine insurance to Hull & Machinery risks in respect of vessels that are Indian flagged or are owned, managed or controlled by Indian entities or cargo vessels destined to or starting from India. It was launched in May 2026 with coverage up to Rs.13,906.50 crore (USD 1.5 billion). It provides domestic insurance coverage for Hull, Cargo, Protection and Indemnity (P&I), and War risks. BMIP reduces dependence on foreign insurers and ensures affordable, uninterrupted coverage during global disruptions. Policies are issued...