Kolkata, New Delhi, INDIA. New York, USA.
Business To Business, New Delhi, 12th May 2026: On Tuesday, the government launched the Bharat Maritime Insurance Pool to provide risk coverage for Indian vessels operating on international sea routes, including in war and high-risk zones.
The USD 1.5 billion insurance pool, backed by a sovereign guarantee of USD 1.4 billion (Rs 12,980 crore), aims to ensure continuous maritime insurance coverage amid ongoing tensions in West Asia, the Finance Ministry announced.
Department of Financial Services Secretary M Nagaraju handed over insurance policies to three companies, stating that global uncertainties and the West Asia situation have increased insurance premiums compared to pre-war levels, impacting trade flows.