India considers ₹1,000 crore war-risk insurance fund
pre-market1 source ↓written by the desknot a recommendation
- fund to support
- ₹1,000 crore
The Indian government is evaluating a ₹1,000 crore fund to support insurers offering war-risk coverage for vessels navigating conflict zones, particularly the Strait of Hormuz. This initiative aims to mitigate disruptions in trade caused by the ongoing Iran conflict, as global reinsurers withdraw from providing necessary coverage. The fund would act as a backstop facility, enabling domestic insurers to extend coverage amid rising costs and risks.
Not investment advice. For informational purposes only.