Government approves marine insurance pool of ₹12,980 crore. business News & more related News Here
The Union Cabinet meeting chaired by Prime Minister Narendra Modi on Saturday approved the creation of a sovereign guarantee-backed marine insurance pool, Bharat Marine Insurance Pool (BMI). ₹The move, worth Rs 12,980 crore, aims to reduce Indian merchant shippers’ dependence on global risk-coverage firms, including reinsurers, amid rising underwriting costs due to the West Asia…