India launches 1.5 billion Bharat maritime insurance pool with first covers issued

A sovereign guarantee promises insurance never stops

India has launched the Bharat Maritime Insurance Pool, a 1.5 billion initiative designed to strengthen domestic maritime trade by cutting reliance on foreign insurers. The pool comes with a sovereign guarantee meant to keep insurance coverage continuous for vessels. First insurance covers have already been issued to key entities, signaling immediate support for India’s expanding maritime sector.