The Hindu·3 min read·medium
FinMin launches Protection & Indemnity Insurance product under Bharat Maritime Insurance Pool
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PTI
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The Indian Ministry of Finance has launched a sovereign-backed Protection and Indemnity (P&I) insurance product under the Bharat Maritime Insurance Pool. This initiative aims to provide financial protection for maritime liabilities and reduce reliance on foreign insurance markets.
The Department of Financial Services under the Ministry of Finance on Thursday (July 30, 2026) launched India's first sovereign-backed Protection and Indemnity insurance product under Bharat Maritime Insurance Pool (BMIP), designed by the New India Assurance Company.
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