The approval for a domestic maritime insurance pool will reduce cost of cover for Indian vessels, lower reliance on overseas insurers and help build domestic underwriting expertise in complex marine ...

The Indian Union Cabinet has cleared the establishment of a domestic maritime insurance arrangement, the Bharat Maritime Insurance Pool (BMI pool), supported by a sovereign guarantee of Rs129.8bn ...

Why do we allow insurance pools, especially in health insurance? Obviously it is a moneymaker for the insurance company, but it appears unique to the insurance industry. My neighbors and I don't pay ...

India currently owns just over 1,500 ships, barely 1.2 per cent of the global shipping fleet, despite being one of the ...

The Bharat Maritime Insurance Pool of USD 1.5 billion, with a sovereign guarantee of USD 1.4 billion (Rs 12,980 crore), would facilitate continuous maritime insurance coverages, in the backdrop of ...

The Illinois Commercial Auto Assigned Risk Plan has posted underwriting losses approaching levels typically associated with market distress, raising new questions about oversight, exposure ...

After disruptions in the Strait of Hormuz drove up war-risk premiums and triggered insurance cancellations, the government has moved to set up the Bharat Maritime Insurance Pool (BMIP) -- a domestic ...

The pool covers all maritime risks such as hull and machinery, cargo and war risks for Indian flagged or controlled vessels or vessels destined to or starting from India.

With London-based insurers pulling out due to Hormuz crisis, India builds its own war-risk insurance cover for maritime ...