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: ....
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