Cabinet Approves Bharat Maritime Insurance Pool

On 18th April 2026, the Union Cabinet approved the proposal for the creation of a domestic insurance pool, namely the ‘Bharat Maritime Insurance Pool’ (BMI pool), to facilitate continuous maritime insurance coverage.

What is BMI Pool?

  • It is a government-backed insurance system that will provide risk coverage to India’s maritime ecosystem.
  • It is designed for Indian-flagged as well as Indian-controlled vessels operating both domestically and internationally.

Objectives

  • Ensuring Operational Continuity: Maintains uninterrupted maritime trade and insurance access during periods of global geopolitical instability.
  • Strategic Risk Autonomy: Establishes sovereign control over maritime risk management through a domestic risk-sharing mechanism.
  • Reducing External Vulnerability: ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content

Already a Member? Login here

Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material since 2018 of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Be an Annual Subscriber

Economy Watch