India launched the Bharat Maritime Insurance Pool with sovereign backing to provide maritime risk insurance coverage for Indian vessels operating across international and high-risk sea routes.

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• India launched the Bharat Maritime Insurance Pool in New Delhi on 12 May 2026 to strengthen domestic maritime insurance capabilities and shipping security.
• The insurance pool provides coverage for Indian vessels operating on international sea routes including war-risk and conflict-prone maritime zones across global waters.
• Bharat Maritime Insurance Pool has a total insurance value of USD 1.5 billion supported by a sovereign guarantee worth approximately USD 1.4 billion.
• General Insurance Corporation of India administers the insurance pool while participating insurers collectively provide underwriting support and maritime risk coverage services.
• The arrangement covers Hull and Machinery insurance, Cargo insurance, Protection and Indemnity insurance, and comprehensive War Risk insurance protection.
• Hull and Machinery insurance protects ships against physical damage while Cargo insurance covers losses or damages affecting transported goods during sea transit.
• Protection and Indemnity insurance covers third-party liabilities including pollution, collision damage, and injury claims arising during maritime shipping operations.
• The initiative aims to reduce India’s dependence on foreign insurers and strengthen maritime trade resilience during periods of geopolitical uncertainty and shipping disruptions.