One of the defining characteristics of mature consumer markets is not simply the abundance of products, but the quality of consumer decision-making. Across sectors, rising financial awareness, easier access to information and digital discovery are changing what people choose to buy and how they
Imagine reaching retirement with a bond portfolio that works like a staircase. One bond matures this year, another next year, and another the year after, giving you access to money at different points instead of having to unlock the entire investment at once
Augmont Enterprises IPO Day 2: The initial public offering (IPO) of integrated gold and silver platform Augmont Enterprises Ltd is witnessing its second day of bidding today, August 24. So far, the public issue has been subscribed 2.88 times. The Rs 825-crore IPO
Gold prices remain high in India; check 22K, 24K rates in Mumbai, Delhi, Bengaluru International gold prices also climbed to a more than three-month high on Monday. Published on: Aug 24, 2026, 13:46:24 IST By HT News Desk Prefer HTon Google Share via Copy link Gold prices remained high in India on
Businesses from India and the U.S. have expressed interest in investing in Bangladesh and made proposals to improve the country's investment climate, Commerce Minister Khandakar Abdul Muktadir has said. Mr. Muktadir’s remarks on Saturday (August 22
Centre rolls out $1
Centre rolls out $1.5 billion maritime insurance pool
Centre rolls out $1.5 billion maritime insurance pool
The pool covers all maritime risks such as hull and machinery, cargo and war risks for Indian flagged or controlled vessels or vessels destined to or starting from India.
Published on: May 13, 2026 7:53 AM IST By Rajeev Jayaswal Share via Copy link The government on Tuesday launched a $1.5 billion Bharat Maritime Insurance Pool (BMIP) with a sovereign guarantee of $1.4 billion to facilitate continuous maritime insurance coverage amid the war in West Asia, Union finance ministry said in a statement. Indian-flagged LPG vessel Jag Vikram, carrying 20,400 MT of LPG, berthed at the Kandla Port in Gujarat. (Deendayal Port Authority) The pool covers all maritime risks such as hull and machinery, cargo and war risks for Indian flagged or controlled vessels or vessels destined to or starting from India, in the context of the current tensions in the West Asia, it said. Under BMIP, the New India Assurance Co Ltd on Tuesday issued the first policy providing financial protection against war perils while navigating through high-risk war zones, it said. The policy has been handed over by department of financial services (DFS) secretary M Nagaraju to Hoger Offshore and Marine Pvt Ltd in a ceremony. Another marine cargo war policy was presented to Vedanta Sterlite Copper Ltd, covering its import of cable wires, the statement said. Policy was also issued to Balrampur Chini Mills Ltd, it added. BMIP thus ensures insurance cover in high-risk areas or sanctioned environments and facilitate continued shipping operations and critical trade flows. “Due to sanctions, foreign re/insurers can withdraw support for any insurance policy that covers cargo or vessel carrying cargo, from the sanctioned country,” it said. The pool with sovereign guarantee will be able to provide sufficient underwriting capacity to cover the risks adequately and enable the country to increase sovereign control over maritime trade, it said. A governing body has been constituted to oversee the functioning of the pool, including approvals regarding the invocation of the sovereign guarantee, the statement said. “In addition, an Underwriting Committee (UC) responsible for ensuring prudent, consistent and technically sound underwriting of risks ceded to the pool has been formed. GIC Re is the pool administrator, which will submit the returns, details of re-insurance arrangement, and statements on performance of the pool,” it said. Policies will be issued by domestic insurers that are pool members, using the combined underwriting capacity of the pool. These risks would then be reinsured by all pool members, in proportion to their capacity commitment in the pool, it said. For claims arising up to $100 million, the pool will service the claim using its own capacity and for claims beyond $100 million, the sovereign guarantee will be invoked to service claims as a contingent backstop of last resort, after complete exhaustion of the pool’s accumulated reserves, member contributions and reinsurance arrangements, it said. The pool will enable the country to strengthen sovereign control over maritime trade and ensure continuity of trade even in the event of withdrawal of re-insurance coverage due to sanctions or geopolitical tensions. This would strengthen India’s maritime risk protection framework and support secure global trade operations in future, promoting India’s financial sovereignty, it said. Stay updated with the latest Business News on Petrol Price, Gold Rate, Silver Rates, Diesel Prices along with Income Tax Calculator Home/Business/Centre Rolls Out $1.5 Billion Maritime Insurance Pool See LessThe government on Tuesday launched a $1.5 billion Bharat Maritime Insurance Pool (BMIP) with a sovereign guarantee of $1.4 billion to facilitate continuous maritime insurance coverage amid the war in West Asia, Union finance ministry said in a statement.
The pool covers all maritime risks such as hull and machinery, cargo and war risks for Indian flagged or controlled vessels or vessels destined to or starting from India, in the context of the current tensions in the West Asia, it said.
Under BMIP, the New India Assurance Co Ltd on Tuesday issued the first policy providing financial protection against war perils while navigating through high-risk war zones, it said.
The policy has been handed over by department of financial services (DFS) secretary M Nagaraju to Hoger Offshore and Marine Pvt Ltd in a ceremony.
Another marine cargo war policy was presented to Vedanta Sterlite Copper Ltd, covering its import of cable wires, the statement said. Policy was also issued to Balrampur Chini Mills Ltd, it added.
BMIP thus ensures insurance cover in high-risk areas or sanctioned environments and facilitate continued shipping operations and critical trade flows. “Due to sanctions, foreign re/insurers can withdraw support for any insurance policy that covers cargo or vessel carrying cargo, from the sanctioned country,” it said.
The pool with sovereign guarantee will be able to provide sufficient underwriting capacity to cover the risks adequately and enable the country to increase sovereign control over maritime trade, it said.
A governing body has been constituted to oversee the functioning of the pool, including approvals regarding the invocation of the sovereign guarantee, the statement said.
“In addition, an Underwriting Committee (UC) responsible for ensuring prudent, consistent and technically sound underwriting of risks ceded to the pool has been formed. GIC Re is the pool administrator, which will submit the returns, details of re-insurance arrangement, and statements on performance of the pool,” it said.
Policies will be issued by domestic insurers that are pool members, using the combined underwriting capacity of the pool. These risks would then be reinsured by all pool members, in proportion to their capacity commitment in the pool, it said.
For claims arising up to $100 million, the pool will service the claim using its own capacity and for claims beyond $100 million, the sovereign guarantee will be invoked to service claims as a contingent backstop of last resort, after complete exhaustion of the pool’s accumulated reserves, member contributions and reinsurance arrangements, it said.
The pool will enable the country to strengthen sovereign control over maritime trade and ensure continuity of trade even in the event of withdrawal of re-insurance coverage due to sanctions or geopolitical tensions. This would strengthen India’s maritime risk protection framework and support secure global trade operations in future, promoting India’s financial sovereignty, it said.
Source: HindustanTimes
Related Posts: India maritime insurance,maritime insurance,india,Bharat Maritime Insurance Pool,maritime insurance coverage,sovereign guarantee
Minimalistic retractable door handles became a signature feature of electric vehicles (EVs), but the controversial designs are now at the centre of China's biggest car recall, affecting more than 4 million vehicles. The recall, which includes 2.98 million Chinese-made Teslas
11 hours ago
Tempsens Instruments India IPO Day 3: The initial public offering (IPO) of temperature sensing and heating solutions provider Tempsens Instruments Ltd is witnessing its final day of bidding today, August 24. So far, the public issue has been subscribed by a strong 31.34 times. The Rs 650-crore IPO
11 hours ago
S&P 500 just hit a level seen only once before in 155 years — could a market crash be next? The S&P 500 CAPE ratio hit 40 for only the second time in 155 years, raising concerns about valuations, future returns and a possible market correction. Updated on: Aug 23, 2026
14 hours ago
Anthropic $2 trillion IPO: Why investors think it could be worth more than SpaceX Anthropic could reach a $2 trillion IPO valuation as revenue surges, raising questions about whether the AI company can be worth more than SpaceX. Published on: Aug 23, 2026
14 hours ago
US President Donald Trump has said Canada wants "the benefits of being a State, without being one" after trade talks between the two countries collapsed late on Friday. In his first comments since negotiations broke down, triggering new 50% US tariffs on a range of Canadian goods
1 days ago
India’s payments sector has raised $5.8 billion across 371 equity funding rounds since January 2021, while producing eight initial public offerings (IPOs) and triggering 25 acquisitions, as the industry increasingly consolidates around a handful of well-funded players
1 days ago
Can Reddit survive in the AI era? It wants more cash for its data—and more of people’s time Published on: Aug 22, 2026, 16:40:48 IST The Economist Prefer HTon Google Share via Copy link Earlier this summer “Backrooms”, a horror flick, became one of the most successful independent films ever
1 days ago
What with a 250th birthday, Taylor Swift's wedding and the football World Cup, Americans could be forgiven for taking their eye off the ball this summer. But signs of economic trouble have been building. This week they hit the headlines when US national debt passed the $40tn (£29.4tn) mark
1 days ago
Insurance regulator IRDAI has directed Edelweiss Life Insurance and Pramerica Life Insurance, in separate orders on August 20, not to open new place of business for six months for non-compliance with Expenses of Management (EoM) limits in 2024-25
2 days ago
India remains a very attractive destination for global investments and its economic fundamentals form the basis for strong investor confidence, Jyoti Jeetun, the Minister of Financial Services and Economic Planning of Mauritius told The Hindu in an interview
2 days ago
A fresh wave of US tariffs on a wide array of Canadian goods has come into effect as of midnight on Saturday after a last minute break down in trade talks. Announcing the suspension of negotiations shortly before the Friday night deadline, Canadian Prime Minister Mark Carney said he would impose
2 days ago
TCS Employee Surveillance Row: Tata Consultancy Services (TCS), India’s largest IT services company, on Friday denied reports that it is using monitoring tools to track individual employee activity on company-issued laptops. The IT giant said the purpose of the tools is to monitor the overall
2 days ago
Walmart stock falls 9% as retailer finally brings Apple Pay, Google Pay Walmart stock fell 9% after earnings despite beating estimates and raising guidance. The retailer will add Apple Pay and Google Pay Tap to Pay from August 24. Updated on: Aug 21, 2026
2 days ago
TikTok has agreed to pay $400m (£293m) to the US to end a lawsuit alleging its platform violated children‘s privacy, marking one of the largest ever settlements over the issue. The deal stems from a 2024 suit by the Department of Justice under former President Joe Biden alleging TikTok and its
2 days ago
What’s next for Nvidia after the AI chip boom? Wall Street wants more—here’s what investors need to know Nvidia stock faces high expectations ahead of August 26 earnings as Wall Street watches AI growth, valuation, open-source models and Nvidia's next big story. Updated on: Aug 22, 2026
2 days ago
Costco dividend rises: Why a $10,000 investment pays only $61 yearly A $10,000 Costco investment earns only about $61 a year in regular dividends. Here’s why investors still buy COST for growth and special dividends. Updated on: Aug 20, 2026
3 days ago
Leaving education, getting a job, buying a home and perhaps starting a family: the path previous generations followed may seem a distant dream to many now. But is it getting a bit easier - at least when it comes to getting on the housing ladder? Today's prospective first-time buyers may well feel
3 days ago
Nearly six months after US President Donald Trump vowed a swift victory over Iran, the conflict appears to be at a standstill, with prospects of a military victory or negotiated settlement growing dimmer. To break the deadlock, Trump has vowed an "economic D-Day" under which any country that does
3 days ago
Why US stocks fell today: Dow, S&P 500, Nasdaq drop as oil and bond yields rise US stocks fell as oil prices and Treasury yields rose. Dow, S&P 500 and Nasdaq dropped as Trump's Iran threat, Walmart and the bond market hit Wall Street. Published on: Aug 20, 2026
3 days ago
Crypto stocks surge as Trump backs Clarity Act: Coinbase, Circle, miners rise Crypto stocks surge as Trump backs the Clarity Act. Coinbase, Circle, Bitcoin miners and other crypto shares rise as investors expect clearer US crypto rules. Updated on: Aug 20, 2026
4 days ago
Stock Market Today, August 20: The domestic equity market snapped its seven-day losing streak and ended sharply higher on Thursday, August 20, as broad-based buying lifted sentiment across sectors after the US Treasury stepped in to contain the surge in global bond yields
4 days ago
The Reserve Bank of India RBI has accorded its approval to Life Insurance Corporation of India (LIC) for acquiring an aggregate holding of up to 9.99% of the paid-up share capital or voting rights in HDFC Bank Ltd., the bank said in a filing with the exchanges on Wednesday (August 19, 2026) night
4 days ago
Customers have shared their outrage after an app used by many businesses to track timesheets and produce invoices hiked bills by as much as 1500%, with one person calling it "daylight robbery". Richard Haldenby, head of UK consultancy firm Salentis
4 days ago
Bitcoin Price Today, August 20: Bitcoin surged to the $70,000 mark on Thursday, recording one of its sharpest gains in recent months as a combination of lower US Treasury yields, a weaker dollar, strong institutional demand and large-scale short liquidations pushed the broader cryptocurrency market
4 days ago
US President Donald Trump has said he will launch tougher economic measures against Iran, as well as any country and that helps or does business with the country. He wrote in all capital letters on Truth Social that he was launching "the most crushing economic operation ever taken against any
4 days ago
The domestic equity markets were trading firmly higher on Thursday, August 20, with buying visible across large-cap, mid-cap and small-cap stocks. The gains strengthened through the session, with the benchmark Sensex rising more than 600 points by 1:20 pm
4 days ago
U.S. President Donald Trump will host cryptocurrency executives at the White House on Wednesday as U.S. financial regulators this week prepare to advance their framework for certain digital assets. Trump, who has earned more than $1.4 billion from his family’s crypto ventures
4 days ago
