The Indian government’s approval of a Bharat Maritime Insurance Pool for Indian ships has been hailed as a significant policy move aimed at strengthening the country’s shipping and risk management ecosystem. Reacting to the development, Rishi Mehra, CEO (India) and Head of Strategy, Human Capital, Asia Pacific at Aon, described the decision as a “landmark step” toward enhancing maritime resilience and economic sovereignty.
He noted that the initiative would help provide cost stability and build domestic expertise by enabling locally underwritten risk capacity. According to Mehra, this would protect India’s shipping industry from global uncertainties while reinforcing confidence in key trade corridors.
“The government’s approval of a Bharat Maritime Insurance pool for Indian ships is a landmark step providing maritime resilience, cost stability, domestic expertise and economic sovereignty,” he said. He further highlighted that the move aligns with India’s broader ambition to develop robust risk management frameworks. The initiative is also expected to create new opportunities for collaboration between insurers, reinsurers and corporates, strengthening the overall insurance ecosystem linked to maritime trade. The approval comes at a time when India is seeking to enhance its global trade competitiveness and reduce dependency on external risk underwriting mechanisms.