New Delhi, July 5 -- New Delhi: The Bharat Maritime Insurance Pool (BMIP), launched in May to ensure uninterrupted insurance coverage for Indian-flagged and -controlled ships amid rising geopolitical risks, has underwritten risks worth more than Rs.40,000 crore, according to two people aware of the development.

The pool has issued over 500 policies, largely covering war-related maritime risks, including hull and machinery, cargo and protection and indemnity.

The rapid uptake reflects strong demand from Indian shipowners and maritime companies seeking reliable and competitively priced insurance amid continued uncertainty in key global shipping routes.

".given the changing geopolitical landscape, Indian insurers stepping into this space ...