Union Cabinet clears Rs 12,980 crore Bharat Maritime Insurance Pool to safeguard shipping amid geopolitical tensions

Apr 18, 2026

In a significant decision, the Union Cabinet on Saturday approved the creation of the 'Bharat Maritime Insurance Pool' (BMI pool) with a Rs 12,980...

Govt clears 'Bharat Maritime Insurance Pool' with Rs 12,980 cr sovereign guarantee

Apr 19, 2026

The Union Cabinet on Saturday approved creation of a domestic 'Bharat Maritime Insurance Pool' backed by a Rs. 12,980-crore sovereign guarantee, aiming to ensure...

UK to crack down on British shipping, insurers aiding Russian oil exports: Report

Nov 13, 2025

British firms have continued to provide maritime and insurance services for tankers carrying Russian LNG nearly four years after Russian President Vladimir Putin invaded...

What Is 'Jettison' and How Is It Covered in Marine Insurance?

Aug 22, 2025

New Delhi [India], August 22: The maritime business involves significant risk to the cargo and vessel, given the unpredictability of the waters. Hence, most...

Trump orders maritime insurance to safeguard Gulf shipping, says US will "escort tankers through Strait of Hormuz" if necessary

Mar 04, 2026

"If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz as soon as possible. No matter what, the United...

Shipping Minister Sonowal hails PM Modi for 'Bharat Maritime Insurance Pool' to bolster India's shipping industry against global volatility

Apr 18, 2026

The move is expected to significantly reduce dependence on foreign underwriters and ensure uninterrupted risk coverage for Indian shipping.