{"id":99103,"date":"2026-04-19T13:44:00","date_gmt":"2026-04-19T08:14:00","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=99103"},"modified":"2026-04-19T16:50:15","modified_gmt":"2026-04-19T11:20:15","slug":"bharat-maritime-insurance-pool","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/bharat-maritime-insurance-pool\/","title":{"rendered":"Bharat Maritime Insurance Pool"},"content":{"rendered":"<h2><b>Bharat Maritime Insurance Pool Latest News<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Recently, the union government took a decisive step to shield its seaborne trade from global disruptions with the creation of the Bharat Maritime Insurance Pool (BMI Pool).<\/span><\/p>\n<h2><b>About Bharat Maritime Insurance Pool<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It is a <\/span><b>new domestic maritime insurance<\/b><span style=\"font-weight: 400;\"> scheme designed to safeguard the country&#8217;s <\/span><b>shipping and trade interests<\/b><span style=\"font-weight: 400;\"> during periods of <\/span><b>global instability.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It is a <\/span><b>Centre-backed mechanism designed<\/b><span style=\"font-weight: 400;\"> to ensure uninterrupted and affordable maritime insurance coverage.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It is backed by a sovereign <\/span><b>guarantee of Rs 12,980 crore.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The BMI Pool will provide insurance support to <\/span><b>Indian-flagged vessels, Indian-controlled<\/b><span style=\"font-weight: 400;\"> ships, and vessels carrying cargo to or from India, including those passing through volatile maritime routes.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It will cover a wide range of risks, including <\/span><b>hull and machinery, cargo, protection and indemnity, and war risk insurance<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The BMI Pool will <\/span><b>initially run for 10 years,<\/b><span style=\"font-weight: 400;\"> with the possibility of a five-year extension.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Significance:<\/b><span style=\"font-weight: 400;\"> It is expected to <\/span><b>strengthen India\u2019s self-reliance<\/b><span style=\"font-weight: 400;\"> in marine insurance, build domestic expertise in underwriting and claims management, and ensure continuity of coverage in case of global disruptions or sanctions.\u00a0<\/span><\/li>\n<\/ul>\n<p><b>Source: <\/b><strong><a href=\"https:\/\/www.financialexpress.com\/business\/news\/what-is-bharat-maritime-insurance-pool-cabinet-clears-indias-12980-crore-safety-net-for-ships-in-risky-waters\/4211371\/\" target=\"_blank\" rel=\"nofollow noopener\">FE<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bharat Maritime Insurance Pool is a domestic scheme to protect India\u2019s shipping and trade during global instability. Read more about Bharat Maritime Insurance Pool, Significance, Latest News<\/p>\n","protected":false},"author":24,"featured_media":99135,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[6966,21,22,23],"class_list":{"0":"post-99103","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"tag-bharat-maritime-insurance-pool","9":"tag-prelims-pointers","10":"tag-upsc-current-affairs","11":"tag-upsc-prelims-current-affairs","12":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/99103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=99103"}],"version-history":[{"count":4,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/99103\/revisions"}],"predecessor-version":[{"id":99134,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/99103\/revisions\/99134"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/99135"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=99103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=99103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=99103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}