India Launches First Sovereign-Backed Maritime Liability Insurance

India launches first sovereign-backed maritime liability insurance under BMIP

The new insurance product strengthens India’s maritime risk management framework while expanding domestic underwriting capacity and reducing reliance on overseas insurers.

India Launches First Sovereign-Backed Maritime Liability Insurance

Read more about India Launches First Sovereign-Backed Maritime Liability Insurance on Devdiscourse.

FinMin launches Protection & Indemnity Insurance product under Bharat Maritime Insurance Pool

On this occasion, Financial Services Secretary Sanjay Lohia handed over the first Protection & Indemnity (P&I) insurance policy document to Shipping Corporation of India Ltd

DFS launches sovereign-backed maritime protection & indemnity cover under BMIP

The Department of Financial Services (DFS), Ministry of Finance, has launched India's first sovereign-backed Protection & Indemnity (P&I) insurance product under the Bharat Maritime Insurance Pool (BMIP).

India’s first sovereign-backed maritime insurance product launched – The Indian Awaaz

Last Updated on July 31, 2026 1:32 am by INDIAN AWAAZ AMN The Department of Financial Services (DFS) has launched India’s first sovereign-backed Protection and Indemnity insurance product under Bharat Maritime Insurance Pool (BMIP). Addressing the launch event in New Delhi today, DFS Secretary Sanjay Lohiya congratulated all stakeholders involved in the process of formulation of the insurance product for achieving this milestone for India’s mari…

Govt launches India's first sovereign-backed maritime P&I insurance

Govt launches India’s first sovereign-backed maritime P&I insurance New Delhi, July 30 (IANS) The Department of Financial Services (DFS) on Thursday launched India’s first sovereign-backed Protection and Indemnity (P&I) insurance product under the Bharat Maritime Insurance Pool (BMIP), a move aimed at strengthening the country’s maritime risk management framework, reducing dependence on foreign insurers and boosting self-reliance in specialised …