Back to today’s briefing

Story perspectives

India Launches INR12,980 Crore Maritime Insurance Pool for Trade

4/19/2026

35 5 Full Breakdown

Summary

Story summary

The Union Cabinet of India approved the Bharat Maritime Insurance Pool (BMI Pool) with a sovereign guarantee of INR12,980 crore.
The BMI Pool will provide uninterrupted and affordable insurance coverage for Indian maritime trade.
It will cover hull and machinery, cargo, and war-related liabilities.
A governing body will oversee operations and reduce dependence on foreign insurers.

1 of 1

Story summary

The Union Cabinet of India approved the Bharat Maritime Insurance Pool (BMI Pool) with a sovereign guarantee of INR12,980 crore.
The BMI Pool will provide uninterrupted and affordable insurance coverage for Indian maritime trade.
It will cover hull and machinery, cargo, and war-related liabilities.
A governing body will oversee operations and reduce dependence on foreign insurers.