Answer: Bharat Maritime Insurance Pool
Notes: The Government of India has launched the Bharat Maritime Insurance Pool (BMI Pool) to safeguard seaborne trade from global disruptions. It is a Centre-backed domestic maritime insurance mechanism ensuring affordable and uninterrupted coverage for shipping. The scheme covers Indian-flagged vessels, Indian-controlled ships, and vessels carrying cargo to or from India, including high-risk routes. It provides comprehensive risk coverage including hull and machinery, cargo, protection and indemnity, and war risk insurance. The BMI Pool will operate initially for 10 years, with a provision for a five-year extension.
