MUMBAI: India has approved a maritime insurance pool of INR129.8 billion ($1.4 billion), Ashwini Vaishnav, minister for Information and Broadcasting, said on Saturday.
The pool is for 10 years can be extended to five more years, Vaishnav said in a briefing. The fund comes at a time when the Iran war has increased the risks to shipping and hiked up insurance costs for businesses.
