| Key Aspect | Details |
|---|---|
| Initiative Name | Bharat Maritime Insurance Pool (BMI Pool) |
| Objective | Strengthen India's shipping and trade ecosystem, reduce dependence on foreign insurers, and ensure uninterrupted insurance coverage for vessels. |
| Approval | Approved by the Union Cabinet in April 2026, now operational. |
| First Insurance Covers | Issued to Vedanta Sterlite Copper Ltd, Balrampur Chini Mills Ltd, and Hoger Offshore and Marine Pvt Ltd. |
| Risks Covered | Hull and Machinery (H&M), Cargo Insurance, Protection & Indemnity (P&I), and War Risk Insurance. |
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