India Launches Maritime Insurance Pool for P&I Cover

India is taking steps to develop its own protection and indemnity (P\&I) framework through the creation of the Bharat Maritime Insurance Pool. The move is designed to reduce dependence on foreign insurers and improve the country’s maritime independence.

The proposed pool will offer liability insurance for Indian-flagged ships, covering risks such as pollution incidents, collisions, and crew-related claims. These areas have traditionally been handled by the International Group of P\&I Clubs.

This initiative forms part of a wider strategy to strengthen resilience across India’s maritime sector. Ongoing geopolitical tensions and sanctions have highlighted the risks of relying heavily on international insurance providers.

India’s shipping industry has been growing steadily, supported by government efforts to expand the national fleet and position the country as a key global maritime hub. Despite this progress, many Indian shipowners continue to rely on overseas P\&I clubs for essential coverage, leaving them vulnerable to changes in external policies.