कोशिश गोल्ड - मुक्त
India Club Eyed for Offering Insurance to Domestic Ships
Mint Kolkata
|July 14, 2025
Insurance coverage is denied to shipping lines operating between countries facing sanctions
The Centre has begun consultations to set up India's first protection and indemnity (P&I) entity—to be called India Club—that will provide third-party insurance to Indian ships operating in the country's coastal region and inland waterways, said shipping secretary T.K. Ramachandran.
The plan is to get domestic companies to provide insurance cover to Indian ships, which now depend on global clubs for securing ships and cargoes, the secretary said in an interview.
The need for an India-focused P&I entity has also been felt to reduce the country's vulnerability to international sanctions and pressures where insurance coverage is denied to shipping lines operating between countries facing sanctions.
At present, third-party risks in the shipping sector are insured with the International Group of P&I Clubs, a 13-member group based in London that provides liability cover to over 90% of shipping lines globally.
यह कहानी Mint Kolkata के July 14, 2025 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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