On Saturday, the Indian government decided to set up a guarantee sovereign with the aim of safeguarding the continuity of the Insurance of the ships of the Indian fleet. The resolution of the Council of Ministers provides for the creation of Bharat Maritime Insurance Pool (BMI pool), fund with an endowment of 129.8 billion rupees ($1.4 billion) that will cover all risks insurance-related marine products such as body and machinery, cargo protection & indemnity coverage and the risks of war and which will cover ships flying the flag or controlled by from India to or from India carrying goods of any origin even when transiting through maritime corridors critics.

Justifying the decision to establish this new fund domestic insurance policy, the Indian government noted that, with the increase in global volatility and instability geopolitically, maritime trade has been impacted the most, with an increased risk of losses for goods and ships that results in an increase in insurance costs and uncertainty about the continuous availability of insurance coverage. By detecting, Also, that Indian ships are mainly dependent on by the International Group of Protection and Indemnity (IGP&I) P&I insurance club, which covers liability to third parties such as liability for pollution by removal of wrecks, damage to cargo, accidents and crew repatriation, responsibilities collision and so on, the government has highlighted that it has been therefore it became necessary to create an insurance pool maritime sovereignty and continuity of trade in the face of the withdrawal of the coverage due to sanctions or geopolitical crises.

Policies are expected to be issued by the companies pool members using the ability to pool's combined risk underwriting, which is estimated at around 9.5 billion rupees ($102 million).